ACCOUNTS - Final Accounts

Registered number: 01935717

NOBLELINK LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024


NOBLELINK LIMITED REGISTERED NUMBER:01935717

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Stocks	5	23,141,917		23,428,143
		23,141,917		23,428,143
Creditors: amounts falling due within one year	6	(21,468,096)		(20,859,909)
Net current assets			1,673,821		2,568,234
Total assets less current liabilities			1,673,821		2,568,234
Provisions for liabilities
Net assets excluding pension asset			1,673,821		2,568,234
Net assets			1,673,821		2,568,234

Capital and reserves
Called up share capital	7,102,111	7,102,111
Share premium account	3,173,475	3,173,475
Profit and loss account	(8,601,765)	(7,707,352)
Equity attributable to owners of the Parent Company	1,673,821	2,568,234
	1,673,821	2,568,234

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NOBLELINK LIMITED REGISTERED NUMBER:01935717

CONSOLIDATED BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider 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 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.

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 consolidated statement of comprehensive income 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 by:

S W Evans

Director

Date: 17 December 2025

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NOBLELINK LIMITED REGISTERED NUMBER:01935717

COMPANY BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	4		5,459,569		6,299,273

Creditors: amounts falling due within one year	6	(3,785,746)		(3,731,039)
Net current liabilities			(3,785,746)		(3,731,039)
Total assets less current liabilities			1,673,823		2,568,234


Net assets			1,673,823		2,568,234

Capital and reserves
Called up share capital		7,102,111		7,102,111
Share premium account		3,173,475		3,173,475
Profit and loss account brought forward	(7,707,352)		(9,351,505)
Loss/(profit) for the year	(894,411)		1,644,153
Profit and loss account carried forward		(8,601,763)		(7,707,352)
		1,673,823		2,568,234

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of 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 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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 consolidated statement of comprehensive income 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 by:

S W Evans

Director

Date: 17 December 2025

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NOBLELINK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Noblelink Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is 20 Harcourt Street, London, W1H 4HG.

The principal activity of the company continued to be that of the development of a leisure project in the eastern Algarve, Portugal.

2.Accounting policies

2.1

Basis of preparation of financial statements

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. 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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2015.

2.3

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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NOBLELINK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

2.5

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.7

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.

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NOBLELINK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 3 (2023 -3).

4.	Fixed asset investments

	Company

	Investments in subsidiary companies	Loans to subsidiaries	Total
	£	£	£
Cost or valuation
At 1 January 2024	19,011	6,280,262	6,299,273
Additions	-	118,100	118,100
Revaluations	-	(957,804)	(957,804)
At 31 December 2024	19,011	5,440,558	5,459,569

Net book value
At 31 December 2024	19,011	5,440,558	5,459,569
At 31 December 2023	19,011	6,280,262	6,299,273

Subsidiary undertaking
The following was a subsidiary undertaking of the Company:
Name	Registered office	Principal activity	Class of shares	Holding

Almada De Ouro Investimentos Touristicos Lda

Qunita Das Chocas, Castro Marim, Faro, Portugal

Leisure development

Ordinary shares

100%

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NOBLELINK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Stocks
		Group	Group
		2024	2023
		£	£

Long-term contract balances	23,141,917	23,428,143
	23,141,917	23,428,143

6.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Trade creditors	666,988	649,428	212,142	171,902
Other creditors	13,879,779	13,627,253	3,173,789	3,217,632
Accruals and deferred income	6,921,329	6,583,228	399,815	341,505
	21,468,096	20,859,909	3,785,746	3,731,039

Caixa Geral de Depositas continues to provide a guarantee in the amount of €7,291,579 to the municipality of Castro Marim. This guarantee provided by the bank is for security against any future development costs of the infrastructures.

Related party transactions

Group
During the year professional and administration services have been charged to Noblelink Limited by William Evans and Partners of which S. Evans is a partner, amounting to £55,000 (2023: £55,000). Included within creditors is £825,847 (2023: £820,727) which is due to Williams Evans and Partners. During the year interest of £58,100 (2023: £55,084) was accrued on the outstanding loan.

Included within creditors are loans from M. Kallen, a director and shareholder of the company totalling £19,453,928 (2023: £18,926,357). During the year interest of £590,483 (2023: £459,957) was accrued on the outstanding loans.

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