Noble Trading (UK) Ltd
Registered number: 08043011
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 151,975 161,400
Tangible assets 4 184,586 217,160
336,561 378,560
Current assets
Stocks 144,462 142,068
Debtors 5 321,575 11,575
Cash at bank and in hand 157,015 286,946
623,052 440,589
Creditors: amounts falling due within one year 6 (223,805) (146,374)
Net current assets 399,247 294,215
Total assets less current liabilities 735,808 672,775
Creditors: amounts falling due after more than one year 7 (246,726) (271,883)
Net assets 489,082 400,892
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 488,082 399,892
Shareholders' funds 489,082 400,892
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jeyaseelan Thambirajah
Director
Approved by the board on 25 October 2023
Noble Trading (UK) Ltd
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipments,Fixtures & Fittings 15% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 29 24
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2022 188,500
At 30 April 2023 188,500
Amortisation
At 1 May 2022 27,100
Provided during the year 9,425
At 30 April 2023 36,525
Net book value
At 30 April 2023 151,975
At 30 April 2022 161,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Equipments,Fixtures & Fittings
£
Cost
At 1 May 2022 412,843
At 30 April 2023 412,843
Depreciation
At 1 May 2022 195,683
Charge for the year 32,574
At 30 April 2023 228,257
Net book value
At 30 April 2023 184,586
At 30 April 2022 217,160
5 Debtors 2023 2022
£ £
Other debtors 321,575 11,575
6 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 16,480
Trade creditors 181,817 94,049
Corporation tax 29,187 25,341
Other taxes and social security costs 12,350 10,080
Pension Liability 452 424
Other creditors (1) -
223,805 146,374
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 63,827 82,631
Director Loan Account 182,899 189,252
246,726 271,883
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 63,827 83,410
National Westminster Bank PLC hold fixed charges and floating charges cover all the properties undertaking of the company.
9 Related party transactions
Other debtors includes a inter company loan of £315,000 given to Noble Retail Limited which is 100% owned by the sole shareholder, Jeyaseelan Thambirajah.
10 Other information
Noble Trading (UK) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
34-36 Leys Road
St . Neots
Cambridgeshire
PE19 1ES
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