ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31falsetrue2022-06-01No description of principal activity11falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10197986 2022-06-01 2023-05-31 10197986 2021-06-01 2022-05-31 10197986 2023-05-31 10197986 2022-05-31 10197986 c:Director1 2022-06-01 2023-05-31 10197986 d:CurrentFinancialInstruments 2023-05-31 10197986 d:CurrentFinancialInstruments 2022-05-31 10197986 d:Non-currentFinancialInstruments 2023-05-31 10197986 d:Non-currentFinancialInstruments 2022-05-31 10197986 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10197986 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 10197986 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 10197986 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 10197986 d:ShareCapital 2023-05-31 10197986 d:ShareCapital 2022-05-31 10197986 c:FRS102 2022-06-01 2023-05-31 10197986 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 10197986 c:FullAccounts 2022-06-01 2023-05-31 10197986 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10197986 2 2022-06-01 2023-05-31 10197986 6 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 10197986

N & N 3 LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

N & N 3 LIMITED

REGISTERED NUMBER: 10197986

STATEMENT OF FINANCIAL POSITION

AS AT 31 MAY 2023

		2023		2022
Note		£		£

Fixed assets
Investments	4		6		6
			6		6
Current assets
Debtors: amounts falling due within one year	5	40,265,054		42,388,282
Cash at bank and in hand	6	4,833		3,203
		40,269,887		42,391,485
Creditors: amounts falling due within one year	7	(2,244,024)		(2,701,217)
Net current assets			38,025,863		39,690,268
Total assets less current liabilities			38,025,869		39,690,274
Creditors: amounts falling due after more than one year	8		(38,025,868)		(39,690,273)

Net assets			1		1

Capital and reserves
Called up share capital	1	1
	1	1

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N & N 3 LIMITED

REGISTERED NUMBER: 10197986

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MAY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 February 2024.

N Zamek

Director

The notes on pages 3 to 5 form part of these financial statements.

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N & N 3 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

1.	General information

N & N 3 Limited is a private company limited by shares and was incorporated in England and Wales. The address of its registered office is The Office Inglewood Mansions, 287-289 West End Lane, London, NW6 1RE.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover is measured as 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.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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N & N 3 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

2.10

Dividends

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 June 2022	6
	At 31 May 2023	6

Debtors

					2023	2022
					£	£


Amounts owed by participating interests	39,343,990	41,814,941
Other debtors	921,064	573,341
	40,265,054	42,388,282

6.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	4,833	3,203
	4,833	3,203

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N & N 3 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Bank loans	5,263	5,133
Trade creditors	-	103
Amounts owed to participating interests	1,182,397	1,858,000
Other creditors	1,053,964	836,181
Accruals and deferred income	2,400	1,800
	2,244,024	2,701,217

8.	Creditors: Amounts falling due after more than one year
		2023	2022
		£	£

Bank loans	38,025,868	39,690,273
	38,025,868	39,690,273

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.

9.	Related party transactions
	The company is exempt from disclosing related party transactions between members of the group in accordance with FRS 102 paragraph 33.1A. At the reporting date £13,745.642 (2022: £11,142,448) was due from companies with common directors. At the reporting date £25,800 (2022: £16,800) was due to companies with common directors. The loans are interest free and repayable on demand.

10.	Controlling party

The company's immediate parent company is N & N 2 Limited, a company registered in England and Wales. The ultimate controlling party is N Zamek, who is the director of the company.

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