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REGISTERED NUMBER: 02726646 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

NOBLE GIFT PACKAGING LIMITED

NOBLE GIFT PACKAGING LIMITED (REGISTERED NUMBER: 02726646)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


NOBLE GIFT PACKAGING LIMITED

COMPANY INFORMATION
for the year ended 29 February 2024







DIRECTORS: Mr D Stobiecki
Mr S Herzog





SECRETARY: Mrs M Stobiecki





REGISTERED OFFICE: 73 Lockfield Avenue
Enfield
Middlesex
EN3 7PY





REGISTERED NUMBER: 02726646 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

NOBLE GIFT PACKAGING LIMITED (REGISTERED NUMBER: 02726646)

ABRIDGED BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 873,779 674,887
Investment property 5 250,000 287,265
1,123,779 962,152

CURRENT ASSETS
Stocks 2,855,039 2,751,910
Debtors 4,789,165 5,139,261
Cash at bank and in hand 22,909 16,630
7,667,113 7,907,801
CREDITORS
Amounts falling due within one year 1,597,100 1,724,429
NET CURRENT ASSETS 6,070,013 6,183,372
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,193,792

7,145,524

CREDITORS
Amounts falling due after more than one year (157,322 ) (193,015 )

PROVISIONS FOR LIABILITIES (430 ) (6,947 )
NET ASSETS 7,036,040 6,945,562

NOBLE GIFT PACKAGING LIMITED (REGISTERED NUMBER: 02726646)

ABRIDGED BALANCE SHEET - continued
29 February 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 6,936,040 6,845,562
SHAREHOLDERS' FUNDS 7,036,040 6,945,562

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.

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 and an abridged Balance Sheet for the year ended 29 February 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 21 November 2024 and were signed on its behalf by:





Mr D Stobiecki - Director


NOBLE GIFT PACKAGING LIMITED (REGISTERED NUMBER: 02726646)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Noble Gift Packaging 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.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors.

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

Rental income from land and buildings is recognised on a straight-line basis over the term of the agreement.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Equipment - 25% on reducing balance

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or cancelled. The company holds the following financial instruments, all of which meet the conditions to be classified as basic instruments:

- Cash, short term trade debtors and creditors


NOBLE GIFT PACKAGING LIMITED (REGISTERED NUMBER: 02726646)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 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 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 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.

Foreign currencies
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.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

NOBLE GIFT PACKAGING LIMITED (REGISTERED NUMBER: 02726646)

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 35 (2023 - 35 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 1,515,066
Additions 275,782
At 29 February 2024 1,790,848
DEPRECIATION
At 1 March 2023 840,179
Charge for year 76,890
At 29 February 2024 917,069
NET BOOK VALUE
At 29 February 2024 873,779
At 28 February 2023 674,887

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 March 2023 49,500
Additions 108,910
At 29 February 2024 158,410
DEPRECIATION
At 1 March 2023 21,656
Charge for year 27,351
At 29 February 2024 49,007
NET BOOK VALUE
At 29 February 2024 109,403
At 28 February 2023 27,844

NOBLE GIFT PACKAGING LIMITED (REGISTERED NUMBER: 02726646)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 287,265
Impairments (37,265 )
At 29 February 2024 250,000
NET BOOK VALUE
At 29 February 2024 250,000
At 28 February 2023 287,265

Investment property was valued on an open market basis on 29 February 2024 by the directors.

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 279,604 281,283
Bank loans 159,838 245,652
Hire purchase contracts 105,085 39,820
544,527 566,755

The bank overdraft is secured by a personal guarantee from the director.

The bank loans are secured by way of a fixed and floating charge over the undertaking and all property and assets present and future.

Hire purchase contracts are secured over the assets to which they relate.

7. RELATED PARTY DISCLOSURES

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.

At the balance sheet date, the company owed £27,830 (2023 - £71,470) to Mr D Stobiecki, a director.