Node Living Leeds Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10065697 (England and Wales)

Unaudited Financial Statements

for the Period 16 March 2016 to 31 March 2017

for

Node Living Leeds Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTORS:

Mrs G M Guptara

A Khera

REGISTERED OFFICE:

4th Floor, 64

North Row

London

W1K 7DA

REGISTERED NUMBER:

10065697 (England and Wales)

ACCOUNTANTS:

Lee Accounting Services Limited

Trading as Lee & Co

Chartered Accountants

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

FIXED ASSETS

Tangible assets

3

4,655

Investment property

4

2,005,000

2,009,655

CURRENT ASSETS

Stocks

5

424,897

Debtors

6

13,538

Cash at bank

11,569

450,004

CREDITORS

Amounts falling due within one year

7

848,135

NET CURRENT LIABILITIES

(398,131

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,611,524

CREDITORS

Amounts falling due after more than one year

8

(1,478,444

)

PROVISIONS FOR LIABILITIES

10

(28,464

)

NET ASSETS

104,616

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

11

104,615

104,616

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 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 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 Board of Directors on 15 December 2017 and were signed on its behalf by:

A Khera - Director

1.	STATUTORY INFORMATION

Node Living Leeds 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

25% 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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

Debtors

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

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective

interest method, less any impairment.

Creditors

Short term trade 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.

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.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

7,000

Disposals

(792

)

At 31 March 2017

6,208

DEPRECIATION

Charge for period

1,553

At 31 March 2017

1,553

NET BOOK VALUE

At 31 March 2017

4,655

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

2,182,808

Disposals

(320,128

)

Revaluations

142,320

At 31 March 2017

2,005,000

NET BOOK VALUE

At 31 March 2017

2,005,000

Fair value at 31 March 2017 is represented by:

£

Valuation in 2017

142,320

Cost

1,862,680

2,005,000

The valuations were undertaken by an external valuations consultant.

5.

STOCKS

£

Stocks

424,897

Stock is made up of residential property held for sale.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

4,060

Other debtors

250

Called up share capital not paid

1

Prepayments and accrued income

1,802

Prepayments

7,425

13,538

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

5,739

Amounts owed to group undertakings

832,457

Accruals and deferred income

8,583

Accrued expenses

1,356

848,135

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other loans more than 5yrs non-installments

1,478,444

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more than 5yrs non-installments

1,478,444

9.	SECURED DEBTS

The following secured debts are included within creditors:

£

Other loans

1,478,444

The other loans are secured by a fixed and floating charge over the assets of the company.

The other loans have been personally guaranteed by Mr A Khera, a company director and the ultimate

controlling party.

10.	PROVISIONS FOR LIABILITIES

£

Deferred tax

Other timing differences

28,464

Deferred

tax

£

Charge to Income Statement during period

28,464

Balance at 31 March 2017

28,464

11.

RESERVES

The distributable reserves included in retained earnings are in deficit by £37,705.

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 Node Living Leeds Limited for the period ended 31 March 2017 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Node Living Leeds Limited, 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 Node Living Leeds Limited and state those matters that we have agreed to state to the Board of Directors of Node Living Leeds 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/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Node Living Leeds Limited 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 profit of Node Living Leeds Limited. You consider that Node Living Leeds Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Node Living Leeds 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 financial statements.

Lee Accounting Services Limited

Trading as Lee & Co

Chartered Accountants

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

15 December 2017