N B T Offices Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07304168 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

N B T OFFICES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

P W H Wild

M Pearson

Mrs V A Wild

REGISTERED OFFICE:

Office 1, The Chimney Building

Clock Tower Park

New Hall

Longmoor Lane

Liverpool

L10 1LD

REGISTERED NUMBER:

07304168 (England and Wales)

ACCOUNTANTS:

LBW Chartered Accountants

Enterprise House

The Courtyard

Old Courthouse Road

Bromborough

Merseyside

CH62 4UE

FIXED ASSETS

Tangible assets

4

42,670

53,175

Investment property

5

5,070,974

3,958,429

5,113,644

4,011,604

CURRENT ASSETS

Debtors

6

331,591

372,272

Cash at bank and in hand

63,226

1,666

394,817

373,938

CREDITORS

Amounts falling due within one year

7

121,805

124,763

NET CURRENT ASSETS

273,012

249,175

TOTAL ASSETS LESS CURRENT LIABILITIES

5,386,656

4,260,779

CREDITORS

Amounts falling due after more than one year

8

(2,968,638

)

(3,067,929

)

PROVISIONS FOR LIABILITIES

(285,666

)

(69,544

)

NET ASSETS

2,132,352

1,123,306

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

1,256,938

532,532

Retained earnings

11

875,314

590,674

SHAREHOLDERS' FUNDS

2,132,352

1,123,306

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 2 December 2022 and were signed on its behalf by:

P W H Wild - Director

1.	STATUTORY INFORMATION

N B T Offices Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2021

117,581

480

118,061

Additions

10,511

-

10,511

At 31 December 2021

128,092

480

128,572

DEPRECIATION

At 1 January 2021

64,517

369

64,886

Charge for year

20,980

36

21,016

At 31 December 2021

85,497

405

85,902

NET BOOK VALUE

At 31 December 2021

42,595

75

42,670

At 31 December 2020

53,064

111

53,175

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2021

3,958,429

Additions

102,474

Revaluations

1,010,071

At 31 December 2021

5,070,974

NET BOOK VALUE

At 31 December 2021

5,070,974

At 31 December 2020

3,958,429

Fair value at 31 December 2021 is represented by:

£

Valuation in 2019

632,158

Valuation in 2020

(99,626

)

Valuation in 2021

1,010,071

Cost

3,528,371

5,070,974

Investment Properties were valued during the year on an open market basis by chartered surveyors from Lambert Smith Hampton

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

8,923

48,682

Other debtors

322,668

323,590

331,591

372,272

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

5,566

20,161

Taxation and social security

102,514

102,007

Other creditors

13,725

2,595

121,805

124,763

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

2,494,084

2,600,495

Other creditors

474,554

467,434

2,968,638

3,067,929

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.21

31.12.20

£

£

Bank loans

2,494,084

2,600,495

The bank loan and other loan are secured by charges over the assets of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2021

590,674

532,532

1,123,206

Deficit for the year

(1,025

)

(1,025

)

Movement in the year

-

1,010,071

1,010,071

Transfer

285,665

(285,665

)

-

At 31 December 2021

875,314

1,256,938

2,132,252

The fair value reserve is non-distributable.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in long term other creditors as at 31 December 2021 are amounts of £200,000 and £229,507 (2020 £231,198 and £200,507) owing to P Wild and M Pearson respectively, the directors of the company.

13.	ULTIMATE CONTROLLING PARTY

Both M Pearson and P V Wild Holdings UK Limited each own 50% of the company's issued share capital.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of N B T Offices Ltd for the year ended 31 December 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of N B T Offices Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of N B T Offices Ltd and state those matters that we have agreed to state to the Board of Directors of N B T Offices Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than N B T Offices Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that N B T Offices Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of N B T Offices Ltd. You consider that N B T Offices Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of N B T Offices Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

LBW Chartered Accountants

Enterprise House

The Courtyard

Old Courthouse Road

Bromborough

Merseyside

CH62 4UE

Date: .............................................