NPS London Ltd
Contingent Liabilities -
Directors must reveal the existence of liabilities they consider likely to occur in the future -
However, especially in the building industry, there are many areas in which risks exist, for example the existence of poisons/toxic substances in building sites and, very commonplace today, the presence of asbestos in building materials and structures, often worse on demolition projects. Any connection between materials in design or in survey could be a risk area. Failure to disclose such possibilities is a breach of requirements of Standards in Accounting for Liabilities and therefore misleading to investors, banks, creditors who depend on full disclosure.
Have the NPS London directors any knowledge of any possible circumstance which should be disclosed in any area? Does the company carry insurance which could be called on in the event of any claim or has any such cover ever been refused?
NPS London No 06078945
Financial Statements Year to 31/1/12
All formal connections are in Norwich -
Principal Activity -
Outlook "positive" -
Pension Fund -
However, 2010 values updated at 2012 are
Assets to meet these £13,896,000
Shortfall (loss) written off
The actuary made many assumptoms for the future (always tricky as we know to our cost). These included Retail Price Index, Consumer Price Index, future salaries, future pensions.
As a member of a group which is registered as a group it is jointly and severally liable for the whole group which liability stands at
£2,765,456 2012 (2011 -
Finance is provided by NPS Property Consultants Ltd. Hence the ability to be regarded as a going concern. The parent guarantees to provide finance for one year from 05/07/2012 -
Major creditor is therefore NPS Property Consultants
£152,000 a year is paid to parent for management fees.
£51,000 (all interest cost) is paid to parent.
NPS London Ltd
Ultimate Control Norfolk County Council (100%)
Norse Group (100%) ultimate parent
NPS Property Consultants Ltd
80% A shares
NPS London Ltd (Minority shareholder 20% B shares London Borough of Waltham Forest)