N & N 3 Limited - Accounts to registrar (filleted) - small 18.2

N & N 3 Limited - Accounts to registrar (filleted) - small 18.2

N & N 3 LIMITED - Company Information

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REGISTERED NUMBER: 10197986 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 May 2020

for

N & N 3 Limited
N & N 3 Limited (Registered number: 10197986)






Contents of the Financial Statements
for the Year Ended 31 May 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


N & N 3 Limited

Company Information
for the Year Ended 31 May 2020







DIRECTOR: N Zamek





REGISTERED OFFICE: The Office
Inglewood Mansions
289 West End Lane
London
NW6 1RE





REGISTERED NUMBER: 10197986 (England and Wales)





ACCOUNTANTS: Town & Forest
Chartered Accountants
Suite 203, Second Floor
China House
401 Edgware Road
London
NW2 6GY
Page 1
N & N 3 Limited (Registered number: 10197986)

Balance Sheet
31 May 2020

31.5.20 31.5.19
Notes £    £    £    £   
FIXED ASSETS
Investments 4 6 6

CURRENT ASSETS
Debtors 5 34,308,153 35,214,821
Cash at bank 92,126 105,502
34,400,279 35,320,323
CREDITORS
Amounts falling due within one year 6 7,385,308 8,305,352
NET CURRENT ASSETS 27,014,971 27,014,971
TOTAL ASSETS LESS CURRENT
LIABILITIES
27,014,977
27,014,977

CREDITORS
Amounts falling due after more than one
year
7
27,014,976
27,014,976
NET ASSETS 1 1

CAPITAL AND RESERVES
Called up share capital 1 1
1 1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 May 2021 and were signed by:



N Zamek - Director


The notes form part of these financial statements

Page 2
N & N 3 Limited (Registered number: 10197986)

Notes to the Financial Statements
for the Year Ended 31 May 2020

1. STATUTORY INFORMATION

N & N 3 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, and in accordance with the accounting policies set out below.

Preparation of consolidated financial statements
The financial statements contain information about N & N 3 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised over the period of the recharged expense.

Investments in subsidiaries
Investments in subsidiaries are valued at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

Page 3 continued...
N & N 3 Limited (Registered number: 10197986)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2020

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2019
and 31 May 2020 6
NET BOOK VALUE
At 31 May 2020 6
At 31 May 2019 6

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.20 31.5.19
£    £   
Amounts owed by group undertakings 24,158,133 25,266,845
Amounts owed by associates 10,150,020 9,947,976
34,308,153 35,214,821

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.20 31.5.19
£    £   
Trade creditors 1,500 -
Amounts owed to group undertakings 7,227,886 8,208,778
Mortgage interest 95,074 95,074
Directors' current accounts 57,848 -
Accrued expenses 3,000 1,500
7,385,308 8,305,352

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.20 31.5.19
£    £   
RBS loan 27,014,976 27,014,976

Amounts falling due in more than five years:

Repayable otherwise than by instalments
RBS loan 27,014,976 27,014,976

Page 4 continued...
N & N 3 Limited (Registered number: 10197986)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2020

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.20 31.5.19
£    £   
Bank loans 27,014,976 27,014,976

CBRE Loan Services Limited and Royal Bank of Scotland plc hold fixed and floating charges over N & N 3 Limited. The floating charges cover all of the property or undertaking of the company. The charges also contain negative pledges.

Page 5