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REGISTERED NUMBER: 11189067 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

No-Brainer Containers Ltd

No-Brainer Containers Ltd (Registered number: 11189067)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


No-Brainer Containers Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: I J Edwards
Mrs A E Edwards



REGISTERED OFFICE: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
GL3 3RS



REGISTERED NUMBER: 11189067 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Barclays Bank Plc
Leicester
LE87 2BB

No-Brainer Containers Ltd (Registered number: 11189067)

Statement of Financial Position
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 186,625 144,232

CURRENT ASSETS
Debtors 5 1,367 1,028
Cash at bank 1,261 7,213
2,628 8,241
CREDITORS
Amounts falling due within one year 6 57,538 86,226
NET CURRENT LIABILITIES (54,910 ) (77,985 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,715

66,247

CREDITORS
Amounts falling due after more than one
year

7

(4,750

)

(7,750

)

PROVISIONS FOR LIABILITIES (22,181 ) (9,804 )
NET ASSETS 104,784 48,693

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 104,782 48,691
SHAREHOLDERS' FUNDS 104,784 48,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

No-Brainer Containers Ltd (Registered number: 11189067)

Statement of Financial Position - continued
29 February 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 6 November 2024 and were signed on its behalf by:





I J Edwards - Director


No-Brainer Containers Ltd (Registered number: 11189067)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

No-Brainer Containers Ltd 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land - 0%
Plant and machinery - 25% on cost, Reducing balance over 25 years and Reducing balance over 10 years
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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

Going concern
Despite net current liabilities of £54,910 at 29 February 2024 (2023 - £77,985) the accounts have been prepared on a going concern basis. The directors have reviewed future cash flows and expressed their willingness to financially support the company for the foreseeable future and therefore consider it appropriate to prepare the financial statements on a going concern basis.

No-Brainer Containers Ltd (Registered number: 11189067)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
land machinery fittings equipment Totals
£    £    £    £    £   
Cost
At 1 March 2023 69,881 103,176 23,988 416 197,461
Additions - 54,900 3,073 3,716 61,689
At 29 February 2024 69,881 158,076 27,061 4,132 259,150
Depreciation
At 1 March 2023 - 30,091 22,722 416 53,229
Charge for year - 16,087 1,971 1,238 19,296
At 29 February 2024 - 46,178 24,693 1,654 72,525
Net book value
At 29 February 2024 69,881 111,898 2,368 2,478 186,625
At 28 February 2023 69,881 73,085 1,266 - 144,232

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 1,359 1,020
Other debtors 8 8
1,367 1,028

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 3,000 3,000
Taxation and social security 3,703 2,715
Other creditors 50,835 80,511
57,538 86,226

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Bank loans 4,750 7,750

No-Brainer Containers Ltd (Registered number: 11189067)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


8. RELATED PARTY DISCLOSURES

At 29 February 2024, the company owed the directors I J Edwards and Mrs A E Edwards £40,032 (2023 - £73,039) The balance owed, included within other creditors, is made up of business expenses and loans not yet reimbursed. The loan balance is interest free and repayable to the directors on demand.