Company No:
Contents
DIRECTORS | S L Dean |
P D Dean | |
S J Rutt |
REGISTERED OFFICE | Beeches Farm |
Icknield Way | |
Tring | |
HP23 4LA | |
United Kingdom |
COMPANY NUMBER | 02598368 (England and Wales) |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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4,875,001 | 5,195,741 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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1,411,390 | 1,245,834 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 1,401,018 | 373,660 | ||
Total assets less current liabilities | 6,276,019 | 5,569,401 | ||
Provision for liabilities | 6, 7 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Revaluation reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Noble Foods (WE) Limited (registered number:
S J Rutt
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Noble Foods (WE) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Beeches Farm, Icknield Way, Tring, HP23 4LA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of plant and machinery, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
The tax expense for the period comprises current tax and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Current tax
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax
The deferred tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Land and buildings | not depreciated |
Plant and machinery etc. | not depreciated |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. On the disposal of a revalued asset a transfer would be made from the revaluation reserve to profit and loss account.
Revaluation increases are recognised in the statement of other comprehensive income unless the increase reverses a revaluation decrease of the same asset previously recognised in the statement of profit or loss. Revaluation decreases are recognised in statement of comprehensive income unless it exceeds accumulated revaluation gains. The non-depreciation of plant and machinery is a departure from FRS 102 and Companies Act. The Directors consider that the revaluation model presents a true and fair view of the assets held.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Borrowings are initially recorded at fair value, net of transaction costs.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the company during the year, including directors |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost/Valuation | |||||
At 01 March 2023 |
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Additions |
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Revaluations |
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At 29 February 2024 |
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Accumulated depreciation | |||||
At 01 March 2023 |
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At 29 February 2024 |
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Net book value | |||||
At 29 February 2024 |
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At 28 February 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Other taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Deferred tax |
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Other provisions |
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Other
Included in other provisions is a decommissioning provision of £81,309 in relation to the decommissioning of plant and machinery at the end of its useful life.
2024 | 2023 | ||
£ | £ | ||
At the beginning of financial year | (
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Charged to the Profit and Loss Account | (
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Credited/(charged) to the Statement of Comprehensive Income |
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At the end of financial year | (
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One of the company's directors had provided a loan to the company which was interest free and repayable upon demand. All amounts were repaid within the year. At the balance sheet date the amount due to the director was £nil (2023 - £849,807).