ACCOUNTS - Final Accounts preparation

Hire purchase and finance leases

Minimum lease payments under hire purchase fall due as follows:

Company registration number: 13846908

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 JANUARY 2025

	NOAKES INCORPORATING LTD


NOAKES INCORPORATING LTD

COMPANY INFORMATION

Directors	D Noakes
	J Noakes (resigned 28 January 2025)


Registered number	13846908


Registered office	182 Goddington Lane
	Orpington
	BR6 9DH


Accountants	Menzies LLP
	Chartered Accountants
	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


NOAKES INCORPORATING LTD REGISTERED NUMBER:13846908

BALANCE SHEET

AS AT 31 JANUARY 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		3,664		7,330
Investment property	5		631,908		608,794
			635,572		616,124
Current assets
Stocks		631,908		608,794
Debtors: amounts falling due within one year	6	2,072		57,630
Cash at bank and in hand		2,996		14,767
		636,976		681,191
Creditors: amounts falling due within one year	7	(1,585,853)		(1,431,289)
Net current liabilities			(948,877)		(750,098)
Total assets less current liabilities			(313,305)		(133,974)
Creditors: amounts falling due after more than one year	8		(2,345)		(5,158)

Net liabilities			(315,650)		(139,132)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(315,750)	(139,232)
	(315,650)	(139,132)

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NOAKES INCORPORATING LTD REGISTERED NUMBER:13846908

BALANCE SHEET (CONTINUED)

AS AT 31 JANUARY 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 October 2025.

D Noakes

Director

The notes on pages 3 to 7 form part of these financial statements.

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NOAKES INCORPORATING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

1.	General information

Noakes Incoporating Ltd is a private company, limited by shares, registered in England and Wales, company registration number 13846908. The registered office is stated on the company information page. There is no principle place of business.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Property sales are recognised on completion.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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NOAKES INCORPORATING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Plant and machinery	-	25%	Straight line
				Computer equipment	-	25%	Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Investment property

Investment property is carried at fair value determined annually by the director, and derived from the current
market rents and investment property yields for comparable real estate, adjusted if necessary for any difference
in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are
recognised in profit or loss.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 2).

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NOAKES INCORPORATING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

4.	Tangible fixed assets

	Plant and machinery	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 February 2024	13,454	1,207	14,661
At 31 January 2025	13,454	1,207	14,661
Depreciation
At 1 February 2024	6,728	603	7,331
Charge for the year on owned assets	3,364	302	3,666
At 31 January 2025	10,092	905	10,997
Net book value
At 31 January 2025	3,362	302	3,664
At 31 January 2024	6,726	604	7,330

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 February 2024	608,794
	Additions at cost	23,114
	At 31 January 2025	631,908

The investment property is held at cost at the year end as the property is currently within development.

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NOAKES INCORPORATING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Debtors

					2025	2024
					£	£


Trade debtors	54	-
Other debtors	2,018	55,926
Prepayments and accrued income	-	1,704
	2,072	57,630

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	2,562	8,708
Bank loans	1,262,942	1,065,236
Other loans	20,781	25,000
Trade creditors	5,286	25,813
Obligations under finance lease and hire purchase contracts	2,813	2,814
Other creditors	288,109	298,221
Accruals and deferred income	3,360	5,497
	1,585,853	1,431,289

The bank loan is secured against the assets of the company.

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Net obligations under finance leases and hire purchase contracts	2,345	5,158
	2,345	5,158

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NOAKES INCORPORATING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Within one year	2,813	2,814
Between 1-5 years	2,345	5,158
	5,158	7,972

10.	Related party transactions
	Included within other creditors are amounts totalling £189,152 (2024: £296,533) owed to the directors. These loans are interest free and repayable on demand.

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