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REGISTERED NUMBER: 13637228 (England and Wales)


Noble Premium Limited

Abridged Audited Financial Statements

for the Year Ended 31 March 2024






Noble Premium Limited (Registered number: 13637228)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Noble Premium Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr S Cagin
Mr C Agcagul



REGISTERED OFFICE: Unit 1 The Britannia Centre
Lenthall Road
Loughton
London
IG10 3SQ



REGISTERED NUMBER: 13637228 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Altan Kemal FCA FCCA



AUDITORS: Alton & Co
Chartered Accountants
& Statutory Auditors
239-241 Kennington Lane
London
SE11 5QU

Noble Premium Limited (Registered number: 13637228)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 106,928 34,616

CURRENT ASSETS
Stocks 5 1,121,876 1,154,540
Debtors 6 1,469,556 884,440
Cash at bank and in hand 391,456 195,516
2,982,888 2,234,496
CREDITORS
Amounts falling due within one year 7 3,699,286 2,801,727
NET CURRENT LIABILITIES (716,398 ) (567,231 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(609,470

)

(532,615

)

CREDITORS
Amounts falling due after more than one
year

8

(7,797

)

(11,139

)

PROVISIONS FOR LIABILITIES 10 (26,732 ) (8,654 )
NET LIABILITIES (643,999 ) (552,408 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (644,099 ) (552,508 )
SHAREHOLDERS' FUNDS (643,999 ) (552,408 )

Noble Premium Limited (Registered number: 13637228)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2024 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 and authorised for issue on 12 September 2024 and were signed on its behalf by:




Mr S Cagin - Director



Mr C Agcagul - Director


Noble Premium Limited (Registered number: 13637228)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Noble Premium 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.

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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Masca Holdings Limited is the parent company of the group and copies of the consolidated accounts can be obtained from Unit 2, The Britannia Centre, Lenthall Road, Loughton, IG10 3SQ.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the customer takes delivery of the goods and is derived from the ordinary activities of the business. All turnover are derived from sales in the UK.

The accrual model is used in recognition of grants where grants are matched against the expenditure it is compensating for.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined on a first in first out basis. Net realisable value is the selling price less any direct cost to sell.


Noble Premium Limited (Registered number: 13637228)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company is dependent on the financial support from the parent company. The directors expect that this support will continue. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this support.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 15 ) .

Noble Premium Limited (Registered number: 13637228)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 29,029 20,495 - 49,524
Additions 1,567 - 106,388 107,955
At 31 March 2024 30,596 20,495 106,388 157,479
DEPRECIATION
At 1 April 2023 9,784 5,124 - 14,908
Charge for year 5,203 3,843 26,597 35,643
At 31 March 2024 14,987 8,967 26,597 50,551
NET BOOK VALUE
At 31 March 2024 15,609 11,528 79,791 106,928
At 31 March 2023 19,245 15,371 - 34,616

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 20,495
DEPRECIATION
At 1 April 2023 5,124
Charge for year 3,843
At 31 March 2024 8,967
NET BOOK VALUE
At 31 March 2024 11,528
At 31 March 2023 15,371

5. STOCKS
2024 2023
£    £   
Finished goods 1,121,876 1,154,540

Noble Premium Limited (Registered number: 13637228)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,462,556 790,840
Amounts owed by group undertakings 7,000 7,000
Other debtors - 86,600
1,469,556 884,440

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 301
Hire purchase contracts (see note 9) 3,342 3,342
Trade creditors 1,666,132 898,322
Amounts owed to group undertakings 1,992,248 1,868,008
Taxation and social security 24,164 17,154
Other creditors 13,400 14,600
3,699,286 2,801,727

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 7,797 11,139

Noble Premium Limited (Registered number: 13637228)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 4,576 4,576
Between one and five years 10,677 15,253
15,253 19,829

Finance charges repayable:
Within one year 1,234 1,234
Between one and five years 2,880 4,114
4,114 5,348

Net obligations repayable:
Within one year 3,342 3,342
Between one and five years 7,797 11,139
11,139 14,481

Non-cancellable operating leases
2024 2023
£    £   
Within one year 40,934 69,382
Between one and five years 40,934 69,382
81,868 138,764

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax provision 26,732 8,654

Noble Premium Limited (Registered number: 13637228)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 8,654
Provided during year 18,078
Excess cap. all. over depr.
Balance at 31 March 2024 26,732

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 April 2023 (552,508 )
Deficit for the year (91,591 )
At 31 March 2024 (644,099 )

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Altan Kemal FCA FCCA (Senior Statutory Auditor)
for and on behalf of Alton & Co

14. CONTINGENT LIABILITIES

All companies in the group are guarantors under a credit guarantee between Natwest Bank and Village Quality Products Limited. The balance outstanding at the year end was nil (2023 - nil).

All companies in the group have guaranteed a loan between Natwest Bank (the lender) and RS Properties London Ltd (a subsidiary in the same group). The balance outstanding at the year end was £11,658,160 (2023 - £12,650,356).

All companies in the group are guarantors under a overdraft facility between Natwest Bank and Cyprofood Limited. The balance outstanding at the year end was ££2,997,988 (2023 - 1,987,478)

Noble Premium Limited (Registered number: 13637228)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

15. OTHER FINANCIAL COMMITMENTS

The company is to pay a total annual rental fee of £40,934 under an operating lease agreement for the hire of Motor vehicles and other warehouse equipments.

16. PARENT COMPANY

The controlling party is Masca Holding Limited.