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REGISTERED NUMBER: 10357460 (England and Wales)




















Unaudited Financial Statements

FOR THE PERIOD

1 May 2023 to 31 January 2024

for

NOE GROUP HOLDINGS LIMITED

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460)

Contents of the Financial Statements
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NOE GROUP HOLDINGS LIMITED

Company Information
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024







DIRECTORS: S M Noe
R D Noe





REGISTERED OFFICE: 2nd Floor, The Hide
3 Kingly Court
London
W1B 5PW





REGISTERED NUMBER: 10357460 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460)

Balance Sheet
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 195,078
Investments 5 1,039,753 2,458,117
1,039,753 2,653,195

CURRENT ASSETS
Debtors 6 947,950 451,044
Investments 7 429,317 1,636,333
Cash at bank and in hand 749,990 52,025
2,127,257 2,139,402
CREDITORS
Amounts falling due within one year 8 435,746 1,818,143
NET CURRENT ASSETS 1,691,511 321,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,731,264

2,974,454

CREDITORS
Amounts falling due after more than one year 9 (780,203 ) (2,364,596 )

PROVISIONS FOR LIABILITIES 13 (70,000 ) (24,909 )
NET ASSETS 1,881,061 584,949

CAPITAL AND RESERVES
Called up share capital 14 3 3
Profit and loss account 1,881,058 584,946
SHAREHOLDERS' FUNDS 1,881,061 584,949

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460)

Balance Sheet - continued
31 JANUARY 2024


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

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 30 October 2024 and were signed on its behalf by:





Noe Group (Corporate Services) Limited - Director


NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460)

Notes to the Financial Statements
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


1. STATUTORY INFORMATION

Noe Group Holdings 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents revenue recognised for the provision of asset management and other related services. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Turnover not invoiced at the balance sheet date is included within accrued income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

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.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
Taxation for the period 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
The financial statements are prepared in sterling, which is the functional currency of the entity.

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Investments
Investments are measured at cost less provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 32 (2023 - 41 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 126,655 407,479 163,399 697,533
Disposals (126,655 ) (407,479 ) (163,399 ) (697,533 )
At 31 January 2024 - - - -
DEPRECIATION
At 1 May 2023 104,942 373,279 24,234 502,455
Charge for period 7,989 14,275 26,304 48,568
Eliminated on disposal (112,931 ) (387,554 ) (50,538 ) (551,023 )
At 31 January 2024 - - - -
NET BOOK VALUE
At 31 January 2024 - - - -
At 30 April 2023 21,713 34,200 139,165 195,078

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 466,215 1,991,902 2,458,117
Disposals (466,215 ) (952,149 ) (1,418,364 )
At 31 January 2024 - 1,039,753 1,039,753
NET BOOK VALUE
At 31 January 2024 - 1,039,753 1,039,753
At 30 April 2023 466,215 1,991,902 2,458,117

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 January 2024 is represented by:

Other
investments
£   
Valuation in 2021 16,313
Valuation in 2022 (416,687 )
Valuation in 2023 (24,779 )
Cost 1,464,906
1,039,753

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 612,934 99,119
Amounts owed by group undertakings - 68,374
Other debtors 118,469 19,375
Directors' current accounts - 1,349
VAT 45,017 81,291
Prepayments and accrued income 171,530 181,536
947,950 451,044

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other investments 429,317 1,636,333

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) - 572,119
Trade creditors 2,376 12,420
Amounts owed to group undertakings - 759,215
Social security and other taxes 89,226 157,415
Other creditors 216,418 42,272
Directors' current accounts 79,267 223,588
Accruals and deferred income 48,459 51,114
435,746 1,818,143

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) - 1,602,370
Other loans (see note 10) 780,203 762,226
780,203 2,364,596

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - 572,119

Amounts falling due between one and two years:
Bank loans - 1-2 years - 1,303,921

Amounts falling due between two and five years:
Bank loans - 2-5 years - 298,449
Other loans - 2-5 years 780,203 762,226
780,203 1,060,675

Other loans relates to a £2,000,000 loan facility from a family trust registered in Gibraltar. Interest is provided by reference to the "Sterling Overnight Index Average". The loan is unsecured.

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 489,404 430,440
Between one and five years - 489,404
489,404 919,844

Operating lease costs were recharged to other related companies.

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 2,174,489

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances - 24,909
Other provisions 70,000 -
70,000 24,909

NOE GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10357460)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


13. PROVISIONS FOR LIABILITIES - continued

Deferred Other
tax provisions
£    £   
Balance at 1 May 2023 24,909 -
Provided during period - 70,000
Credit to Income Statement during period (24,909 ) -
Balance at 31 January 2024 - 70,000

Provision for deferred tax relates to accelerated capital allowances.

Other provisions represent the dilapidations provision on the future expected repair and removal costs required to restore the company´s leased buildings to their fair and original condition at the end of the lease term. The dilapidation costs has been settled since the period end.

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary 1p 3 3

15. RELATED PARTY DISCLOSURES

The Directors maintain current accounts with the company, at the balance sheet date amount owed to the directors by the company was £79,267 (2023: £94,642).

Included in Debtors:Amounts falling due within one year is £109,465 (2023:£68,374) owed by companies controlled by the directors.

Included in Creditors; Amounts falling due within one year is £172,165 (2023:£759,215) owed by companies controlled by the directors.

The amounts are interest free and repayable on demand.