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COMPANY REGISTRATION NUMBER: 11495417
Nobel Thinking Ltd
Filleted Unaudited Financial Statements
31 August 2024
Nobel Thinking Ltd
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
34,514
45,138
Current assets
Debtors
6
1,394
3,392
Cash at bank and in hand
1,553
14,102
-------
--------
2,947
17,494
Creditors: amounts falling due within one year
7
( 7,327)
( 15,706)
-------
--------
Net current (liabilities)/assets
( 4,380)
1,788
--------
--------
Total assets less current liabilities
30,134
46,926
Creditors: amounts falling due after more than one year
8
( 27,615)
( 32,981)
Provisions
658
( 213)
--------
--------
Net assets
3,177
13,732
--------
--------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
2,177
12,732
-------
--------
Shareholders funds
3,177
13,732
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Nobel Thinking Ltd
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 13 February 2025 , and are signed on behalf of the board by:
F Roche
Director
Company registration number: 11495417
Nobel Thinking Ltd
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 41 Marlyns Drive, Guildford, Surrey, GU4 7LT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% straight line
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 September 2023
56,713
5,609
62,322
Additions
1,622
1,622
--------
-------
--------
At 31 August 2024
56,713
7,231
63,944
--------
-------
--------
Depreciation
At 1 September 2023
11,949
5,235
17,184
Charge for the year
11,342
904
12,246
--------
-------
--------
At 31 August 2024
23,291
6,139
29,430
--------
-------
--------
Carrying amount
At 31 August 2024
33,422
1,092
34,514
--------
-------
--------
At 31 August 2023
44,764
374
45,138
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
1,250
2,900
Other debtors
144
492
-------
-------
1,394
3,392
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
4,841
Other creditors
7,327
10,865
-------
--------
7,327
15,706
-------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
27,615
32,981
--------
--------