N & H Properties Limited - Period Ending 2018-03-31

Registration number: 08437363

N & H Properties Limited

trading as N & H Properties Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

Tahas & Co Ltd
Certified Accountants & Tax Advisors
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU

N & H Properties Limited

trading as N & H Properties Ltd

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Balance Sheet	4 to 5
Statement of Changes in Equity	6
Notes to the Financial Statements	7 to 9

N & H Properties Limited

trading as N & H Properties Ltd

Company Information

Directors

Mr Kantibhai Patel Mr Himish Patel

Registered office

397 St. Marys Lane Upminster Essex RM14 3HR

Accountants

Tahas & Co Ltd Certified Accountants & Tax Advisors Suite 3, Second Floor 760 Eastern Avenue Newbury Park London IG2 7HU

Page 1

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
N & H Properties Limited

trading as N & H Properties Ltd
for the Year Ended 31 March 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of N & H Properties Limited for the year ended 31 March 2018 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of N & H Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of N & H Properties Limited and state those matters that we have agreed to state to the Board of Directors of N & H Properties Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than N & H Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that N & H Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of N & H Properties Limited. You consider that N & H Properties Limited 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 accounts of N & H Properties Limited. 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 accounts.

......................................

Tahas & Co Ltd
Certified Accountants & Tax Advisors
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU

12 December 2018

Page 2

N & H Properties Limited

trading as N & H Properties Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2018

	Note	2018 £	2017 £
Profit/(loss) for the year		22,596	(1,560)
Total comprehensive income for the year		22,596	(1,560)

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 3

N & H Properties Limited

trading as N & H Properties Ltd

(Registration number: 08437363)
Balance Sheet as at 31 March 2018

	Note	2018 £	2017 £
Fixed assets
Investment property	4	511,135	500,912
Current assets
Debtors	5	31	33
Cash at bank and in hand		13,837	8,036
		13,868	8,069
Creditors: Amounts falling due within one year	6	(13,512)	(13,565)
Net current assets/(liabilities)		356	(5,496)
Total assets less current liabilities		511,491	495,416
Creditors: Amounts falling due after more than one year	6	(485,472)	(491,993)
Net assets		26,019	3,423
Capital and reserves
Called up share capital		100	100
Profit and loss account		25,919	3,323
Total equity		26,019	3,423

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 4

N & H Properties Limited

trading as N & H Properties Ltd

(Registration number: 08437363)
Balance Sheet as at 31 March 2018

Approved and authorised by the Board on 12 December 2018 and signed on its behalf by:
 

.........................................

Mr Kantibhai Patel

Director

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 5

N & H Properties Limited

trading as N & H Properties Ltd

Statement of Changes in Equity for the Year Ended 31 March 2018

	Share capital £	Profit and loss account £	Total £
At 1 April 2017	100	3,323	3,423
Profit for the year	-	22,596	22,596
Total comprehensive income	-	22,596	22,596
At 31 March 2018	100	25,919	26,019

	Share capital £	Profit and loss account £	Total £
At 1 April 2016	100	4,883	4,983
Loss for the year	-	(1,560)	(1,560)
Total comprehensive income	-	(1,560)	(1,560)
At 31 March 2017	100	3,323	3,423

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 6

N & H Properties Limited

trading as N & H Properties Ltd

Notes to the Financial Statements for the Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
397 St. Marys Lane
Upminster
Essex
RM14 3HR
England and Wales

These financial statements were authorised for issue by the Board on 12 December 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Page 7

N & H Properties Limited

trading as N & H Properties Ltd

Notes to the Financial Statements for the Year Ended 31 March 2018

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2017 - 2).

4	Investment properties

	2018 £
At 1 April	500,912
Fair value adjustments	10,223
At 31 March	511,135

The historical costs of the properties is £511,135 (2017 - £511,135). The surplus on revaluation of the investment properties of £10,222 (2017- deficit of £10,223) has been credited to the income statement in the year

There has been no valuation of investment property by an independent valuer.

Page 8

N & H Properties Limited

trading as N & H Properties Ltd

Notes to the Financial Statements for the Year Ended 31 March 2018

5

Debtors

	2018 £	2017 £
Other debtors	31	33
Total current trade and other debtors	31	33

6

Creditors

	Note	2018 £	2017 £
Due within one year
Other creditors		13,512	13,565
Due after one year
Loans and borrowings	7	485,472	491,993

7	Loans and borrowings

	2018 £	2017 £
Non-current loans and borrowings
Bank borrowings	236,573	243,094
Other borrowings	248,899	248,899
	485,472	491,993

Page 9