NHB Investments Limited Small abridged accounts
NHB Investments Limited Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
06217255
|
|
|
|
Abridged Financial Statements |
Year ended 30 April 2018
Contents |
Page |
Abridged statement of financial position |
1 |
Notes to the abridged financial statements |
3 |
|
Abridged Statement of Financial Position |
2018 |
2017 |
|
Note |
£ |
£ |
Current assets
Stocks |
|
|
Debtors |
|
|
Cash at bank and in hand |
|
|
------------ |
------------ |
|
|
|
|
Creditors: amounts falling due within one year |
|
|
------------ |
------------ |
|
Net current assets |
|
|
------------ |
------------ |
|
Total assets less current liabilities |
|
|
Creditors: amounts falling due after more than one year |
4 |
|
|
------------ |
------------ |
||
Net assets |
|
|
|
------------ |
------------ |
||
Capital and reserves
Called up share capital |
|
|
Profit and loss account |
|
|
------------ |
--------- |
|
Shareholders funds |
|
|
------------ |
--------- |
|
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
|
Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
21 November 2018
, and are signed on behalf of the board by:
|
|
Director |
Director |
Company registration number:
06217255
|
Notes to the Abridged Financial Statements |
Year ended 30 April 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sterling House, 20 Victoria Way, Burgess Hill, West Sussex, RH15 9NF.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Stocks
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Creditors:
amounts falling due after more than one year
The bank loans have been secured by charges over the company's assets.
5.
Related party transactions
At 30th April 2018 the company owed Home Buyers UK Limited £2,772,656 (2017: £2,624,410) and this is included in creditors. Home Buyers UK Limited is controlled by
J King
and C Newman. At 30th April 2018 the company owed Momentum Homes Limited £1,144,853 (2017: £Nil) and this is included in creditors. Momentum Homes Limited is controlled by J King
and C Newman. At 30th April 2018 the company owed Storage Land Limited £520 (2017: £Nil) and this is included in creditors. Storage Land Limited is controlled by J King
and C Newman. At 30th April 2018 the company was owed £1,388 by Momentum Asset Management Limited (2017: £Nil) and this is included in debtors. Momentum Asset Management Limited is controlled by J King
and C Newman. During the year the company was charged £108,963 + VAT (2017: £79,350 + VAT) for procurement fees by Momentum Asset Management Limited, a company controlled by J King
and C Newman.
6.
Controlling party
The company was controlled throughout the period by J King and C Newman by virtue of their holding of the ordinary shares of Home Buyers UK Limited.