Nolan Holdings Limited - Accounts to registrar (filleted) - small 17.3

Nolan Holdings Limited - Accounts to registrar (filleted) - small 17.3


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REGISTERED NUMBER: 02023134 (England and Wales)















Financial Statements for the Year Ended 31 March 2017

for

Nolan Holdings Limited

Nolan Holdings Limited (Registered number: 02023134)






Contents of the Financial Statements
for the Year Ended 31 March 2017




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Nolan Holdings Limited

Company Information
for the Year Ended 31 March 2017







DIRECTORS: H Nolan
Mrs M E Nolan
Mrs T A Westlake
M Nolan





SECRETARY: Streatham Secretarial Limited





REGISTERED OFFICE: Foresters Hall
25/27 Westow Street
Upper Norwood
London
SE19 3RY





REGISTERED NUMBER: 02023134 (England and Wales)





ACCOUNTANTS: Gibsons Financial Limited
Chartered Accountants
Foresters Hall
25/27 Westow Street
Upper Norwood
London
SE19 3RY

Nolan Holdings Limited (Registered number: 02023134)

Abridged Balance Sheet
31 March 2017

31/3/17 31/3/16
Notes £    £   
FIXED ASSETS
Tangible assets 4 24 32
Investments 5 15,000 15,000
Investment property 6 560,000 560,000
575,024 575,032

CURRENT ASSETS
Cash at bank 92,213 68,561

CREDITORS
Amounts falling due within one year (146,188 ) (145,350 )
NET CURRENT LIABILITIES (53,975 ) (76,789 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

521,049

498,243

CAPITAL AND RESERVES
Called up share capital 900 900
Revaluation reserve 7 514,061 514,061
Retained earnings 7 6,088 (16,718 )
521,049 498,243

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

The members have not required the company to obtain an audit of its financial statements for the year 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.

Nolan Holdings Limited (Registered number: 02023134)

Abridged Balance Sheet - continued
31 March 2017


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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 December 2017 and were signed on its behalf
by:





H Nolan - Director


Nolan Holdings Limited (Registered number: 02023134)

Notes to the Financial Statements
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

Nolan Holdings 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 represents net rents received, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Taxation
Taxation for the year 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 year 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.

Nolan Holdings Limited (Registered number: 02023134)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

2. ACCOUNTING POLICIES - continued

Depreciation
Depreciation is not provided in respect of the company's investment property, which is reflected at valuation.
This treatment has been adopted to comply with the requirements of the Financial Reporting Standard for
Smaller Entities (effective April 2008) for investment purposes.

Although this is a departure from the accounting requirements of the Companies Act 2006, which requires such
properties to be depreciated, the directors consider the departure in this regard justified on the grounds of
compliance with the Accounting Standard and the overriding requirement under the Companies Act 2006 for
the financial statements to show a true and fair view.

If this departure from the Companies Act 2006 had not been made, the profit for the financial year would have
been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified, because
depreciation is only one of the many factors reflected in the valuation of the property and the amount which
might otherwise have been shown cannot be separately identified or quantified.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2016
and 31 March 2017 3,200
DEPRECIATION
At 1 April 2016 3,168
Charge for year 8
At 31 March 2017 3,176
NET BOOK VALUE
At 31 March 2017 24
At 31 March 2016 32


Nolan Holdings Limited (Registered number: 02023134)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2016
and 31 March 2017 15,000
NET BOOK VALUE
At 31 March 2017 15,000
At 31 March 2016 15,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2016
and 31 March 2017 560,000
NET BOOK VALUE
At 31 March 2017 560,000
At 31 March 2016 560,000

The company's freehold property is held as investment and has been included in the accounts at the directors'
valuation. They consider the market value of the investment properties to be £560,000 as at 31/12/2015
.

7. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2016 (16,718 ) 514,061 497,343
Profit for the year 77,206 77,206
Dividends (54,400 ) (54,400 )
At 31 March 2017 6,088 514,061 520,149

Nolan Holdings Limited (Registered number: 02023134)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

8. CONTINGENT LIABILITIES

There is a contingent liability with regards to the bank borrowings of the company's wholly owned subsidiary,
Collinstown Construction Limited, of £340,000.

The bank also holds a first legal charge dated 16.8.89 over the investment freehold property as shown in these
accounts

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs M E Nolan.

The ultimate controlling party is H Nolan.