Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2023
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NOE AND ASSOCIATES LIMITED
CONTENTS
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NOE AND ASSOCIATES LIMITED
COMPANY INFORMATION
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NOE AND ASSOCIATES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The directors present their strategic report for the company for the year ended 31 December 2023.
The company's principal trade is to provide strategy, design, identity and content services for brands.
Noe & Associates Limited faces competition from both global giants and niche, specialised firms. The company’s competitive advantage lies in its ability to combine strategic marketing expertise with innovative digital solutions, providing clients with a comprehensive service offering that addresses both traditional and modern business challenges.
For 2023, Noe & Associates focused on the following strategic objectives:
∙Expansion into the Luxury Hospitality Sector: Successfully broaden our client base by entering the luxury hospitality sector, won prestigious hotel projects. This strategic move allowed us to leverage our expertise in branding and communication while tapping into a high-growth, premium market segment, further enhancing the company's reputation and revenue streams.
∙Operational Efficiency: Streamline internal processes through technology investments to improve service delivery efficiency and client satisfaction.
∙Talent Development: Attract, develop, and retain top talent to maintain a high level of expertise and innovation within the firm.
Key Financial Metrics
For 2023 Noe & Associates reported the following key financial metrics: Turnover: £11.2 million, representing a 20.3% decrease from the previous year (2022: £14.0 million). The decrease in turnover in 2023 is primarily due to a change in the structure of the company’s operations with its subsidiary company Noe & Associates Inc., including amendments to the company's transfer pricing methodology. During 2022, Noe & Associates Inc. operated primarily in a supporting role to Noe & Associates Limited, facilitating the fulfillment of client contracts where the UK entity acted as the principal. In 2023, the operational model of Noe & Associates Inc. was restructured, enabling the entity to independently engage in client contracts as a principal, thereby transitioning from a purely supportive function to a direct operational role. Previously, in 2022, operating costs of Noe & Associates Inc. (plus a markup) amounting to £5.7 million were being recharged to the company. In 2023, the methodology was adjusted so that the company collected all central costs and recharged them to the respective subsidiaries and related group entities, including a markup. This shift resulted in other operating income for 2023 of £1.6 million. The change in financial structuring better aligns with long-term strategic goals and ensures improved transparency in cost allocation across the group. Gross Profit: £6.7 million, representing a 8.5% increase from the previous year (2022: £6.1 million). This increase in gross profit reflects the company’s ability to enhance operational efficiency and scale delivery across a growing number of projects. Despite the overall decline in turnover, Noe & Associates was able to improve its margins by focusing on higher-value service offerings and maintaining cost discipline. The increase in gross profit demonstrates resilience in the company’s core operations and its ability to extract more value from each engagement.
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NOE AND ASSOCIATES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Financial performance (continued)
Operating Profit: £2.7 million, reflecting a 2.9% increase from the previous year (2022: £2.6 million). The growth in operating profit is primarily due to the increased volume of projects completed during the year, coupled with the company’s enhanced operational efficiencies. By improving project delivery timelines and optimizing resource allocation, Noe & Associates successfully managed the impact of salary inflation and contained its overhead costs. This result underscores the company’s strategic focus on operational excellence and cost management. Profit After Tax: £2.3 million, flat compared to the previous year (2022: £2.4 million). Despite the growth in operating profit, profit after tax remained flat due to higher tax liabilities. Strategic Priorities For The Future Noe & Associates aims to build on its success by focusing on the following priorities:
1.Further Market Expansion: Target additional markets in Asia.
2.Innovation: Invest in new technologies to enhance service delivery and client engagement.
3.Client Relationships: Strengthen client relationships through personalized service and value-added offerings.
4.Service Line Expansion: Expand our portfolio by adding new service lines, such as interior design, experiential and marketing plans, to diversify revenue streams and provide comprehensive solutions to clients.
Market Risk
Economic downturns or changes in client industries could lead to reduced demand for brand consultancy services. To mitigate this risk, Noe & Associates is diversifying its client base and service offerings. Competitive Risk The consultancy market is highly competitive, with the risk of losing market share to existing or new entrants. The company is addressing this risk by continuously innovating its service portfolio and maintaining high standards of client service. Key Talent Risk The success of Noe & Associates is highly dependent on the skills, expertise, and creativity of its employees. The brand consultancy sector faces intense competition for top talent, and there is a risk of losing key personnel to competitors or failing to attract the right talent to support business growth. Additionally, high turnover could disrupt client relationships and service delivery. To mitigate this risk, Noe & Associates is committed to maintaining a strong employee value proposition by offering competitive compensation packages, clear career development pathways, and a supportive work environment. The company also invests in ongoing professional development and employee engagement programs to retain and motivate key talent.
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NOE AND ASSOCIATES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Principal risks and uncertainties (continued)
Foreign Exchange Risk Noe & Associates operates in multiple countries and serves clients in regions outside of its main operational hubs. As a result, the company enters into contracts in various currencies, exposing it to foreign exchange risk. Fluctuations in exchange rates between the currencies in which we invoice clients and those in which we incur costs could impact profitability. To mitigate this risk, Noe & Associates closely monitors currency movements and may hedge significant foreign exchange exposures through financial instruments when appropriate. Additionally, where possible, we aim to structure contracts in currencies aligned with our operational costs to minimize potential exchange rate mismatches.
This report was approved by the board and signed on its behalf.
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NOE AND ASSOCIATES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The directors present their report and the financial statements for the year ended 31 December 2023.
The profit for the year, after taxation, amounted to £2,337,290 (2022 - £2,350,878).
The directors have not declared a dividend during the year or the prior year.
The directors who served during the year were:
As permitted by s414c(11) of the Companies Act 2006, the directors have elected to disclose information, required to be in the directors' report by Schedule 7 of the 'Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008', in the strategic report.
This report was approved by the board and signed on its behalf.
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NOE AND ASSOCIATES LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
The directors are responsible for preparing the strategic report, the directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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NOE AND ASSOCIATES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NOE AND ASSOCIATES LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023
We have audited the financial statements of Noe and Associates Limited (the 'company') for the year ended 31 December 2023, which comprise the profit and loss account, the balance sheet, the statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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NOE AND ASSOCIATES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NOE AND ASSOCIATES LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
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NOE AND ASSOCIATES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NOE AND ASSOCIATES LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company's sector;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and employment legislation;
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙tested a sample of journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures
which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation; and
∙enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
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NOE AND ASSOCIATES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NOE AND ASSOCIATES LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
16 Great Queen Street
Covent Garden
WC2B 5AH
Date:
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NOE AND ASSOCIATES LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
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NOE AND ASSOCIATES LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
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NOE AND ASSOCIATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 15 to 34 form part of these financial statements.
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NOE AND ASSOCIATES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Noe and Associates Limited provides brand strategy and consultancy, content and production services with a focus on premium brands, architecture and the built environment.
The company is a private company limited by shares incorporated in Scotland. The address of its registered office is Consilium, 169 West George Street, Glasgow, G2 2LB. The company's financial statements are presented in Sterling (£), which is also the company's functional currency. Monetary amounts in these financial statements are rounded to the nearest £.
2.Accounting policies
The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).
The company was, at the end of the year, a subsidiary of TGHB2 Limited, whose registered address is North Suite Third Floor, 32/34 Great Marlborough Street, London, United Kingdom, W1F 7JB . The ultimate parent undertaking and for which group financial statements are drawn up and of which the company is a member is Together Group Holdings Plc, whose registered office address is North Suite Third Floor, 32/34 Great Marlborough Street, London, United Kingdom, W1F 7JB. In accordance with the exemption given in Section 400 of the Companies Act 2006, the company is not required to produce, and has not published, consolidated accounts.
The following principal accounting policies have been applied:
The company has taken advantage of the following disclosure exemptions under FRS 101:
∙the requirements of IFRS 7 Financial Instruments: Disclosures
∙the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers
∙the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
- paragraph 79(a)(iv) of IAS 1;
- paragraph 73(e) of IAS 16 Property, Plant and Equipment;
∙the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
∙the requirements of IAS 7 Statement of Cash Flows
∙the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
The directors of the controlling entity, Together Group Holdings Plc, have prepared forecasts until 31 December 2025 which show that the Group will have sufficient cash available from a combination of existing facilities and generated from its principal trading activity in order to settle liabilities in the due course of business and will maintain compliance with covenants with the borrowing facilities (a $55m borrowing facility entered into on 7 April 2023 which is due for repayment in quarterly instalments commencing on 31 March 2025 and a $65m borrowing facility entered into on 19 May 2024 which is due for repayment on 19 October 2029).
Group management has performed sensitivity analysis on these forecasts which show that if growth, which is forecast by the Group’s acquired agencies, were not achieved in the timeframe which is expected the Group would continue to maintain compliance with its borrowing covenants. Accordingly, the directors have prepared the financial statements on the going concern basis, notwithstanding the fact that the company has a deficiency on total equity at the end of the year, having assessed that the Group and the company has a reasonable expectation of continuing to settle liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements Amounts invoiced to customers in advance of services under retainers are included within receivables until the promised services are transferred to the customer. The company does not expect to have any contracts where the period between the transfer of the promised services to the customer and payment by the customer exceeds one year. As a consequence, the company does not adjust any of the transaction prices for the time value of money. Gross revenue comprises all amounts receivable exclusive of sales taxes. Pass-through costs incurred on behalf of clients where the company is acting as agent for the delivery of the recharged services are deducted from revenue presented in the financial statements. Pass-through costs incurred on behalf of clients where the company is acting as principal for the delivery of the recharged services are presented as part of revenue in the financial statements.
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss. Foreign exchange gains and losses are presented in the profit and loss account within 'administrative expenses'.
The company as a lessee
At the inception of the contact, the company assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.
The company recognises a right-of-use asset and a lease liability at the commencement date. The right-of-use asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement day and any initial direct costs, less any lease incentives received. The assets are depreciated over the shorter period of the lease term and useful life of the underlying asset on a straight line basis. The lease term includes periods covered by an option to extend if the company is reasonably certain to exercise that option. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, then the company uses its incremental borrowing rate. The lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is a change in the future lease payments arising in rate, extension or termination options. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The company has elected to apply the practical expedient not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low value assets. The lease payments associated with these leases are recognised as an expense on a straight-line basis over the lease term.
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
The company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The company's accounting policies in respect of financial instruments transactions are explained below:
Financial assets and financial liabilities are initially measured at fair value. Financial assets All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets. Trade and other receivables Trade and other receivables where payment is due within one year do not constitute a financing transaction and are recorded at the undiscounted amount expected to be received, less attributable transaction costs. Any subsequent impairment is recognised as an expense in profit or loss. If payment is due after more than one year or if there is any other indication of a financing transaction, trade and other receivables are recorded initially at fair value less attributable transaction costs. In this situation, fair value is equal to the amount expected to be received, discounted at a market related interest rate. All trade and other receivables are subsequently measured at amortised cost, net of impairment. Impairment and write-offs The company makes an estimate of the recoverable value of trade and other receivables. When assessing impairment of trade and other receivables, management considers factors including the credit rating of the receivable, the ageing profile of receivables and historical experience. The company applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected credit loss allowance for all trade receivables. The company writes off a receivable when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the debtor has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over one year past due, whichever occurs sooner. Financial assets written off are still subject to enforcement activities. Any recoveries made are recognised in profit or loss. Financial liabilities Trade and other payables Trade and other payables are initially recognised at fair value less attributable transaction costs. They are subsequently measured at amortised cost. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Impairment of trade receivables The company makes an estimate of the recoverable value of trade and other receivables. When assessing impairment of trade and other receivables, management considers factors including the credit rating of the receivable, the ageing profile of receivables and historical experience. The company applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected credit loss allowance for all trade receivables. See note 13 for the net carrying amount of the receivables and associated impairment provision.
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of turnover by country of destination:
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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NOE AND ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10.Taxation (continued)
There were no factors that may affect future tax charges.
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