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Registration number: 10695822

Noon Roberts Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Noon Roberts Holdings Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Noon Roberts Holdings Limited

(Registration number: 10695822)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

598,244

470,000

Investments

5

100

100

Other financial assets

6

1,000

-

 

599,344

470,100

Current assets

 

Debtors

7

1,424

1,413

Cash at bank and in hand

 

260,108

294,105

 

261,532

295,518

Creditors: Amounts falling due within one year

8

(171,890)

(105,342)

Net current assets

 

89,642

190,176

Total assets less current liabilities

 

688,986

660,276

Creditors: Amounts falling due after more than one year

8

(37,215)

(50,652)

Provisions for liabilities

(17,234)

(13,484)

Net assets

 

634,537

596,140

Capital and reserves

 

Called up share capital

200

200

Revaluation reserve

68,936

53,936

Profit and loss account

565,401

542,004

Shareholders' funds

 

634,537

596,140

 

Noon Roberts Holdings Limited

(Registration number: 10695822)
Statement of Financial Position as at 31 December 2024 (continued)

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 21 March 2025
 


Mr A Noon
Director

 

Noon Roberts Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
26-28 Southernhay East
Exeter
EX1 1NS

Principal activity

The principal activity of the company is holding company and property investment.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Noon Roberts Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

The current income 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Fixed asset investments

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

 

Noon Roberts Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 January

470,000

Additions

113,244

Fair value adjustments

15,000

At 31 December

598,244

The investment properties held in long leasehold properties are held a fair value which is based on the directors valuation.

There has been no valuation of investment property by an independent valuer.

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 January 2024

100

Provision

Carrying amount

At 31 December 2024

100

At 31 December 2023

100

 

Noon Roberts Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Investments (continued)

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

1,000

1,000

At 31 December 2024

1,000

1,000

Impairment

Carrying amount

At 31 December 2024

1,000

1,000

7

Debtors

2024
£

2023
£

Other debtors

100

100

Prepayments

1,324

1,313

1,424

1,413

 

Noon Roberts Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

12,960

11,832

Amounts owed to group undertakings and undertakings in which the company has a participating interest

130,472

66,471

Taxation and social security

 

10,579

9,485

Accruals and deferred income

 

2,960

2,780

Other creditors

 

14,919

14,774

 

171,890

105,342

The bank loan is secured on charges over the property held by the company.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

37,215

50,652

Included within creditors: amounts falling due after more than one year is an amount of £nil (2023 £827) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The bank loan is secured on charges over the property held by the company.

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Revaluation reserve:

This reserve records the proportion of the profit and loss account that represents accumulated gains and losses from investment properties and is displayed separately to retain a record of these the reserves no distributable to holders of equity by way of dividends.