N & N 3 Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10197986 (England and Wales)

Unaudited Financial Statements

for the Period 25 May 2016 to 31 May 2017

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:

CAAS

Chartered Accountants

Suite 203, 2nd Floor

China House

401 Edgware Road

London

NW2 6GY

FIXED ASSETS

Investments

4

6

CURRENT ASSETS

Debtors

5

36,625,291

Cash at bank

4,960

36,630,251

CREDITORS

Amounts falling due within one year

6

9,615,281

NET CURRENT ASSETS

27,014,970

TOTAL ASSETS LESS CURRENT LIABILITIES

27,014,976

CREDITORS

Amounts falling due after more than one year

7

27,014,975

NET ASSETS

1

CAPITAL AND RESERVES

Called up share capital

1

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 22 February 2018 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.

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.

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 less diminution in value where applicable.

Taxation

Taxation for the period 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 period 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 period was 1 .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

6

At 31 May 2017

6

NET BOOK VALUE

At 31 May 2017

6

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Gowerlane Limited

Registered office: The Office, Inglewood Mansions, 289 West End Lane, London, NW6 1RE

Nature of business: Property investment and trading

%

Class of shares:

holding

Ordinary

100.00

31.12.16

31.12.15

£

£

Aggregate capital and reserves

5,606,431

1,306,434

Profit for the year

4,624,997

16,899

Evebay Limited

Registered office: The Office, Inglewood Mansions, 289 West End Lane, London, NW6 1RE

Nature of business: Property investment

%

Class of shares:

holding

Ordinary

100.00

30.9.16

30.9.15

£

£

Aggregate capital and reserves

995,017

80,816

Profit for the year

914,201

76,533

Stickland Developments Limited

Registered office: The Office, Inglewood Mansions, 289 West End Lane, London, NW6 1RE

Nature of business: Holding company.

%

Class of shares:

holding

Ordinary

100.00

31.3.17

31.3.16

£

£

Aggregate capital and reserves

26,365

22,283

Profit for the year

4,082

1,194

Finlaw 450 Limited

Registered office: The Office, Inglewood Mansions, 289 West End Lane, London, NW6 1RE

Nature of business: Property investment and trading

%

Class of shares:

holding

Ordinary

100.00

31.1.17

31.1.16

£

£

Aggregate capital and reserves

8,406,983

1,968,577

Profit for the year

6,510,406

219,533

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by group undertakings

26,089,294

Amounts owed by associates

10,535,997

36,625,291

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to group undertakings

9,513,296

Mortgage interest

95,985

Accrued expenses

6,000

9,615,281

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

RBS loan

27,014,975

Amounts falling due in more than five years:

Repayable otherwise than by instalments

RBS loan

27,014,975

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

27,014,975

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.