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Company No: 02598368 (England and Wales)

# NOBLE FOODS (WE) LIMITED

### Unaudited Financial Statements
For the financial year ended 28 February 2025
Pages for filing with the registrar

NOBLE FOODS (WE) LIMITED

## Unaudited Financial Statements

For the financial year ended 28 February 2025

Contents

NOBLE FOODS (WE) LIMITED

## COMPANY INFORMATION

For the financial year ended 28 February 2025
NOBLE FOODS (WE) LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 28 February 2025

DIRECTORS | S L Dean
| P D Dean
| S J Rutt

REGISTERED OFFICE | Beeches Farm
| Icknield Way
| Tring
| HP23 4LA
| United Kingdom

COMPANY NUMBER | 02598368 (England and Wales)

NOBLE FOODS (WE) LIMITED

## BALANCE SHEET

As at 28 February 2025
NOBLE FOODS (WE) LIMITED

## BALANCE SHEET (continued)

As at 28 February 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 4,121,736 |  | 4,875,001
|  | 4,121,736 |  | 4,875,001
Current assets |  |  |  |
Debtors | 4 | 260,662 |  | 424,751
Cash at bank and in hand |  | 1,068,452 |  | 986,639
|  | 1,329,114 |  | 1,411,390
Creditors: amounts falling due within one year | 5 | ( 75,580) |  | ( 10,372)
Net current assets |  | 1,253,534 |  | 1,401,018
Total assets less current liabilities |  | 5,375,270 |  | 6,276,019
Provision for liabilities | 6, 7 | ( 1,015,077) |  | ( 1,031,193)
Net assets |  | 4,360,193 |  | 5,244,826
Capital and reserves |  |  |  |
Called-up share capital |  | 2 |  | 1,000,002
Revaluation reserve |  | 990,112 |  | 1,556,890
Capital redemption reserve |  | 2,000,000 |  | 0
Profit and loss account |  | 1,370,079 |  | 2,687,934
Total shareholders' funds |  | 4,360,193 |  | 5,244,826

For the financial year ending 28 February 2025 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 financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Noble Foods (WE) Limited (registered number: 02598368) were approved and authorised for issue by the Board of Directors on 18 September 2025. They were signed on its behalf by:

S J Rutt Director |

NOBLE FOODS (WE) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
NOBLE FOODS (WE) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Noble Foods (WE) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Beeches Farm, Icknield Way, Tring, HP23 4LA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of plant and machinery, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received for the provision of electricity in the period in which it is provided, shown net of value added tax.

##### Taxation

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

##### Tangible fixed assets

Plant and machinery is valued using the revaluation model and are revalued annually by the directors to an amount equal to fair value, based on value in use from discounted cashflows. Land and buildings are held at historic cost.

Land and buildings | not depreciated
Plant and machinery etc. | not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. On the disposal of a revalued asset a transfer would be made from the revaluation reserve to profit and loss account.
Revaluation increases are recognised in the statement of other comprehensive income unless the increase reverses a revaluation decrease of the same asset previously recognised in the statement of profit or loss. Revaluation decreases are recognised in statement of comprehensive income unless it exceeds accumulated revaluation gains. The non-depreciation of plant and machinery is a departure from FRS 102 and Companies Act. The Directors consider that the revaluation model presents a true and fair view of the assets held.

##### Trade and other debtors

Trade and other debtors are amounts due from customers for services provided in the ordinary course of business. Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

##### Trade and other creditors

Trade and other creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. Trade creditors are recognised initially at the transaction price.

##### Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Ordinary share capital

The ordinary share capital of the company is presented as equity.

##### Borrowings

Borrowings are initially recorded at fair value, net of transaction costs.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 1 |  | 1

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost/Valuation |  |  |  |  |
At 01 March 2024 | 67,850 |  | 4,807,151 |  | 4,875,001
Additions | 0 |  | 2,439 |  | 2,439
Revaluations | 0 |  | ( 755,704) |  | ( 755,704)
At 28 February 2025 | 67,850 |  | 4,053,886 |  | 4,121,736
Accumulated depreciation |  |  |  |  |
At 01 March 2024 | 0 |  | 0 |  | 0
At 28 February 2025 | 0 |  | 0 |  | 0
Net book value |  |  |  |  |
At 28 February 2025 | 67,850 |  | 4,053,886 |  | 4,121,736
At 29 February 2024 | 67,850 |  | 4,807,151 |  | 4,875,001

The fair value of the company's plant and machinery was revalued on 28 February 2025 by the Directors based on value in use from discounted cashflows. An independent valuer was not involved. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £2,733,737 (2024 - £2,731,298).

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 243,202 |  | 421,433
Other debtors | 17,460 |  | 3,318
| 260,662 |  | 424,751

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 3,000 |  | 10,372
Taxation and social security | 72,580 |  | 0
| 75,580 |  | 10,372

#### 6. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 931,329 |  | 949,884
Other provisions | 83,748 |  | 81,309
| 1,015,077 |  | 1,031,193

#### 7. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 949,884) |  | ( 773,821)
Charged to the Profit and Loss Account | ( 170,371) |  | ( 256,840)
Credited to the Statement of Comprehensive Income | 188,926 |  | 80,777
At the end of financial year | ( 931,329) |  | ( 949,884)

#### 8. Related party transactions

The company advanced a loan to one of the Directors which was interest free and repayable upon demand. At the balance sheet date the amount due to the company was £4,013 (2024 - £nil).