Notenom Limited |
|
Statement of Financial Position |
|
31 December 2023 |
|
|
|
|
Notes |
|
2023 |
|
|
2022 |
$ |
$ |
Fixed assets |
Tangible assets |
|
3 |
|
925,381 |
|
|
930,000 |
Investments |
|
4 |
|
144,430 |
|
|
29,309 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,069,811 |
|
|
959,309 |
|
Current assets |
Debtors |
|
5 |
96,890 |
|
|
103,376 |
Cash at bank and in hand |
|
|
5,171,851 |
|
|
5,685,510 |
|
|
|
|
|
|
|
|
|
|
|
5,268,741 |
|
|
5,788,886 |
|
Creditors: amounts falling due within one year |
|
6 |
(204,685) |
|
|
(56,915) |
|
Net current assets |
|
|
|
5,064,056 |
|
|
5,731,971 |
|
|
Net assets |
|
|
|
6,133,867 |
|
|
6,691,280 |
|
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
3 |
|
|
3 |
Profit and loss account |
|
|
|
6,133,864 |
|
|
6,691,277 |
|
|
|
|
|
|
|
|
|
Shareholders' funds |
|
|
|
6,133,867 |
|
|
6,691,280 |
|
|
|
|
|
|
|
|
|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
|
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
|
Directors' responsibilities: |
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- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; |
|
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. |
|
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024, and are signed on behalf of the board by: |
|
|
|
Mr C Paravani |
Director |
|
Company registration number: |
08730725 |
|
Notenom Limited |
|
Notes to the Financial Statements |
|
Year ended 31 December 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
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The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. |
|
|
The financial statements are prepared in US Dollars, which is the functional currency of the entity. |
|
|
Revenue recognition |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and Value Added Tax. |
|
|
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
|
|
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Financial instruments |
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A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. |
|
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Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
|
|
Provisions |
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Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Fixtures, fittings & equipment |
|
Buildings |
|
Total |
$ |
$ |
$ |
|
Cost |
|
At 1 January 2023 |
23,156 |
|
909,414 |
|
932,570 |
|
|
|
|
|
|
|
|
|
|
|
At 31 December 2023 |
23,156 |
|
909,414 |
|
932,570 |
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2023 |
2,570 |
|
- |
|
2,570 |
|
Charge for the year |
4,619 |
|
- |
|
4,619 |
|
|
|
|
|
|
|
|
|
|
|
At 31 December 2023 |
7,189 |
|
- |
|
7,189 |
|
|
|
|
|
|
|
|
|
|
|
Net book value |
|
|
At 31 December 2023 |
15,967 |
|
909,414 |
|
925,381 |
|
|
|
|
|
|
|
|
|
|
|
At 31 December 2022 |
20,586 |
|
909,414 |
|
930,000 |
|
|
|
|
|
|
|
|
|
|
4 |
Investments |
Investments in |
subsidiary |
undertakings |
$ |
|
Cost |
|
At 1 January 2023 |
29,309 |
|
Additions |
115,121 |
|
|
|
|
|
|
|
|
|
|
|
At 31 December 2023 |
144,430 |
|
|
|
5 |
Debtors |
2023 |
|
2022 |
$ |
$ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
90,168 |
|
90,168 |
|
Other debtors |
6,722 |
|
13,208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
96,890 |
|
103,376 |
|
|
6 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
$ |
$ |
|
|
Trade creditors |
57,560 |
|
- |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
- |
|
258 |
|
Corporation tax |
|
|
|
|
49,118 |
|
2,755 |
|
Accruals |
5,500 |
|
5,500 |
|
Other creditors |
92,507 |
|
48,402 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
204,685 |
|
56,915 |
|
|
|
|
|
|
|
|
|
|
7 |
Other information |
|
|
Notenom Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
|
71-75 Shelton Street |
|
Covent Garden |
|
London |
|
England |
|
WC2H 9JQ |