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

REGISTERED NUMBER: 10197986 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2021

for

N & N 3 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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

First Floor, New Barnes Mill

Cottonmill Lane

St Albans

AL1 2HA

FIXED ASSETS

Investments

4

6

CURRENT ASSETS

Debtors

5

41,764,798

34,308,153

Cash at bank

1,919

92,126

41,766,717

34,400,279

CREDITORS

Amounts falling due within one year

6

2,071,316

7,385,308

NET CURRENT ASSETS

39,695,401

27,014,971

TOTAL ASSETS LESS CURRENT
LIABILITIES

39,695,407

27,014,977

CREDITORS

Amounts falling due after more than one
year

7

39,695,406

27,014,976

NET ASSETS

1

CAPITAL AND RESERVES

Called up share capital

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 31 May 2022 and were signed by:

N Zamek - Director

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 or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised over the period of the recharged expense. The interest is recognised as it becomes receivable.

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.

Government grants

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2020

and 31 May 2021

6

NET BOOK VALUE

At 31 May 2021

6

At 31 May 2020

6

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

Amounts owed by group undertakings

31,089,986

24,158,133

Amounts owed by associates

10,671,212

10,150,020

Prepayments and accrued income

3,600

-

41,764,798

34,308,153

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

Bounce Back Loan

4,594

-

Trade creditors

6,103

1,500

Amounts owed to group undertakings

1,908,662

7,227,886

Mortgage interest

150,720

95,074

Directors' current accounts

37

57,848

Accrued expenses

1,200

3,000

2,071,316

7,385,308

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.5.21

31.5.20

£

RBS loan

-

27,014,976

Arbuthnot loan

39,650,000

-

Bounce Back Loan - 2-5 years

21,325

-

Bounce Back Loan - over 5 year

24,081

-

39,695,406

27,014,976

Amounts falling due in more than five years:

Repayable otherwise than by instalments

RBS loan

-

27,014,976

Arbuthnot loan

39,650,000

-

39,650,000

27,014,976

Repayable by instalments

Bounce Back Loan - over 5 year

24,081

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.21

31.5.20

£

Bank loans

39,650,000

27,014,976

Arbuthnot Latham & Co., Limited holds fixed charges over N & N 3 Limited. The charges also contain a negative pledge.

CBRE Loan Services Limited holds fixed and floating charges over N & N 3 Limited. The floating charge covers all of the property or undertaking of the company. The charges also contain a negative pledge.

The Royal Bank of Scotland PLC holds fixed and floating charges over N & N 3 Limited. The floating charge covers all of the property or undertaking of the company. The charges also contain a negative pledge.

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

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