N.H.G. Accommodations Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00610302 (England and Wales)

Unaudited Financial Statements

for the Period 26 December 2016 to 24 December 2017

for

N.H.G. Accommodations Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTOR:

Mrs V Taylor

REGISTERED OFFICE:

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

BUSINESS ADDRESS:

Mill House

20 Uphill Road

Mill Hill

London

NW7 4RB

REGISTERED NUMBER:

00610302 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Investment property

4

1,920,000

1,920,000

CURRENT ASSETS

Debtors

5

90,604

74,570

Cash at bank

98,558

71,809

189,162

146,379

CREDITORS

Amounts falling due within one year

6

28,473

23,717

NET CURRENT ASSETS

160,689

122,662

TOTAL ASSETS LESS CURRENT LIABILITIES

2,080,689

2,042,662

CAPITAL AND RESERVES

Called up share capital

7

5,000

5,000

Revaluation reserve

8

1,832,264

1,832,264

Retained earnings

243,425

205,398

SHAREHOLDERS' FUNDS

2,080,689

2,042,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 24 December 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 24 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 10 December 2018 and were signed by:

Mrs V Taylor - Director

1.	STATUTORY INFORMATION

N.H.G. Accommodations Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the period ended 24 December 2017 are the first that are prepared in

accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK

GAAP, the date of transition to FRS 102 Section 1A is 26 December 2015.

There were no transitional adjustments require upon adoption of FRS 102 and therefore no reconciliation of

equity or profit at the date of transition is necessary.

Turnover

Turnover represents gross rental income.

Investment properties

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other

related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value

of the future payments and subsequently at amortised cost using the effective interest method. Debt

instruments that are payable or receivable within one year, typically trade payables or receivables, are

measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected

to be paid or received. However if the arrangements of a short-term instrument constitute a financing

transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of

interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset

or liability is measured, initially and subsequently, at the present value of the future payment discounted at a

market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original

effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any

impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference

between an asset's carrying amount and best estimate, which is an approximation of the amount that the

company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but

excluding investment properties, are assessed to determine whether there is an indication that the carrying

amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is

an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use

and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is

lower, the carrying amount of the asset is written down to its estimated recoverable amount and an

impairment loss is recognised in the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2016 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 26 December 2016

and 24 December 2017

1,920,000

NET BOOK VALUE

At 24 December 2017

1,920,000

At 25 December 2016

1,920,000

COMPRISING:

Original cost

87,736

Valuation:

25th December 2016

1,832,264

1,920,000

Investment property was revalued by the directors on an open market basis as at 25th December 2016.

If the property was realised at the holding value the directors estimate the liability to corporation tax would be

approximately £246,000.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

32,500

27,500

Other debtors

58,104

47,070

90,604

74,570

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

26,252

21,537

Other creditors

2,221

2,180

28,473

23,717

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

5,000

Ordinary

£1

5,000

5,000

8.

RESERVES

Revaluation

reserve

£

At 26 December 2016

and 24 December 2017

1,832,264

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 24 December 2017 and the

year ended 25 December 2016:

2017

2016

£

£

Mrs V Taylor

Balance outstanding at start of period

47,070

25,451

Amounts advanced

85,224

93,619

Amounts repaid

(74,190

)

(72,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

58,104

47,070

During the year interest of £1,534 was charged by the company on the above loan (2016: £619).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs V Taylor.