4 2 Noizee Limited SC574740 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is the manufacture and sale of candles and diffusers. Digita Accounts Production Advanced 6.30.9574.0 true true SC574740 2023-09-01 2024-08-31 SC574740 2024-08-31 SC574740 bus:OrdinaryShareClass1 2024-08-31 SC574740 core:CurrentFinancialInstruments 2024-08-31 SC574740 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 SC574740 core:Non-currentFinancialInstruments 2024-08-31 SC574740 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 SC574740 core:FurnitureFittingsToolsEquipment 2024-08-31 SC574740 bus:SmallEntities 2023-09-01 2024-08-31 SC574740 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC574740 bus:FilletedAccounts 2023-09-01 2024-08-31 SC574740 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 SC574740 bus:RegisteredOffice 2023-09-01 2024-08-31 SC574740 bus:Director1 2023-09-01 2024-08-31 SC574740 bus:Director2 2023-09-01 2024-08-31 SC574740 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 SC574740 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC574740 bus:Agent1 2023-09-01 2024-08-31 SC574740 core:FurnitureFittings 2023-09-01 2024-08-31 SC574740 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 SC574740 core:ToolsEquipment 2023-09-01 2024-08-31 SC574740 countries:Scotland 2023-09-01 2024-08-31 SC574740 2023-08-31 SC574740 core:FurnitureFittingsToolsEquipment 2023-08-31 SC574740 2022-09-01 2023-08-31 SC574740 2023-08-31 SC574740 bus:OrdinaryShareClass1 2023-08-31 SC574740 core:CurrentFinancialInstruments 2023-08-31 SC574740 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 SC574740 core:Non-currentFinancialInstruments 2023-08-31 SC574740 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 SC574740 core:FurnitureFittingsToolsEquipment 2023-08-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: SC574740

Noizee Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Noizee Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Noizee Limited

Company Information

Directors

Gordon Robertson

Georgina Robertson

Registered office



Registration number

14 Simpson Wynd
Kinross
KY13 8GP

SC574740 (Scotland)

Accountants

Brown, Scott & Main
Chartered Accountants31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Noizee Limited
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Noizee Limited for the year ended 31 August 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of The Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance

This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information of Noizee Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of The Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our work or for this report.

It is your duty to ensure that Noizee Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Noizee Limited. You consider that Noizee Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Noizee Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Brown, Scott & Main
Chartered Accountants
31 Townsend Place
Kirkcaldy
Fife
KY1 1HB

28 April 2025

 

Noizee Limited

(Registration number: SC574740)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

12,176

12,371

Current assets

 

Stock

73,100

41,500

Debtors

6

81,206

43,620

Cash at bank and in hand

 

985

3,773

 

155,291

88,893

Creditors: Amounts falling due within one year

7

(171,649)

(96,413)

Net current liabilities

 

(16,358)

(7,520)

Total assets less current liabilities

 

(4,182)

4,851

Creditors: Amounts falling due after more than one year

7

(15,945)

(4,334)

Provisions for liabilities

10

-

(2,351)

Net liabilities

 

(20,127)

(1,834)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(20,227)

(1,934)

Shareholders' deficit

 

(20,127)

(1,834)

For the financial 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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 April 2025 and signed on its behalf by:
 

.........................................
Gordon Robertson
Director

 

Noizee Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
14 Simpson Wynd
Kinross
KY13 8GP
Scotland

The principal place of business is:
Unit 37 Fife Food Centre
Faraday Road
Glenrothes
Fife
KY6 2RU
Scotland

These financial statements were authorised for issue by the Board on 28 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

The presentation currency is sterling.

Going concern

The company made a loss of £18,293 (2023 £3,117) and had net liabilities of £20,127 (2023 £1,834). The financial statements have been prepared on the going concern basis. The directors consider this is appropriate as the company expects to meet its day to day commitments from working capital and existing financial arrangements as they fall due with the directors' support and believe the company will become profitable in the near future.

Revenue recognition

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 and discounts.

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Current or deferred taxation assets and liabilities are not discounted.

 

Noizee Limited

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

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is provided at rates calculated so as to write off the cost less residual value of each asset over its expected useful life, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% per annum on the straight line basis

Catering equipment

25% per annum on the straight line basis


Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
 

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stock

Stock is stated at the lower of cost and net realisable value and comprises materials for the production of candles and diffusers.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective rate of interest.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

The company operates a defined contribution pension scheme, whose assets are held separately from those of the company. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. The company currently makes contributions for one director.

 

Noizee Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 2).

4

Taxation

The tax charge / (credit) comprises:

2024

2023

£

£

Corporation tax

-

-

Deferred tax

(2,351)

(371)

(2,351)

(371)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 September 2023

16,654

16,654

Additions

1,950

1,950

At 31 August 2024

18,604

18,604

Depreciation

At 1 September 2023

4,283

4,283

Charge for the year

2,145

2,145

At 31 August 2024

6,428

6,428

Carrying amount

At 31 August 2024

12,176

12,176

At 31 August 2023

12,371

12,371

6

Debtors

Current

2024
£

2023
£

Trade debtors

45,051

15,761

Prepayments

22,667

23,183

Other debtors

13,488

4,676

 

81,206

43,620

 

Noizee Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

22,000

30,350

Trade creditors

 

39,813

9,660

Taxation and social security

 

3,462

3,881

Accruals and deferred income

 

3,500

3,500

Other creditors

 

102,874

49,022

 

171,649

96,413

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

15,945

4,334

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,334

4,334

Other borrowings

13,611

-

15,945

4,334

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,000

2,000

Other borrowings

20,000

28,350

22,000

30,350

 

Noizee Limited

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

10

Provisions for liabilities

2024

2023

£

£

Deferred tax: accelerated capital allowances

-

2,351

Deferred tax

£

Balance at 1 September 2023

2,351

Charge / (credit) to P&L during the year

(2,351)

Balance at 31 August 2024

-