Noba Capital Limited Filleted accounts for Companies House (small and micro)

NOBA CAPITAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11483220

Noba Capital Limited

Filleted Unaudited Financial Statements

31 December 2020

Noba Capital Limited

Financial Statements

Year ended 31 December 2020

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Noba Capital Limited

Statement of Financial Position

31 December 2020

	2020	2019
Note	£	£

Fixed assets

Tangible assets	5	12,498	5,244
Investments	6	445,004	300,001
		---------	---------
		457,502	305,245

Current assets

Debtors	7	299,556	111,354
Cash at bank and in hand		9,664	5,767
		---------	---------
		309,220	117,121

Creditors: amounts falling due within one year	8	765,783	426,374
		---------	---------
Net current liabilities		456,563	309,253
		---------	---------
Total assets less current liabilities		939	( 4,008)

Creditors: amounts falling due after more than one year	9	38,571	–
		--------	-------
Net liabilities		( 37,632)	( 4,008)
		--------	-------

Capital and reserves

Called up share capital	300	300
Profit and loss account	( 37,932)	( 4,308)
	--------	-------
Shareholders deficit	( 37,632)	( 4,008)
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2020 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Noba Capital Limited

Statement of Financial Position (continued)

31 December 2020

These financial statements were approved by the board of directors and authorised for issue on 23 June 2021 , and are signed on behalf of the board by:

Mr K A Fuller	Ms V Pazos-Chamorro
Director	Director

Company registration number: 11483220

Noba Capital Limited

Notes to the Financial Statements

Year ended 31 December 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Going concern

The directors have considered the forecasts for the next 12 months and will continue to support the business. On this basis the accounts have been prepared on a going concern basis.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2019: 4 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 January 2020	6,992
Additions	9,469
	--------
At 31 December 2020	16,461
	--------
Depreciation
At 1 January 2020	1,748
Charge for the year	2,215
	--------
At 31 December 2020	3,963
	--------
Carrying amount
At 31 December 2020	12,498
	--------
At 31 December 2019	5,244
	--------

6. Investments

	Shares in group undertakings	Shares in participating interests	Total
	£	£	£
Cost
At 1 January 2020	1	300,000	300,001
Additions	–	145,003	145,003
	----	---------	---------
At 31 December 2020	1	445,003	445,004
	----	---------	---------
Impairment
At 1 January 2020 and 31 December 2020	–	–	–
	----	---------	---------

Carrying amount
At 31 December 2020	1	445,003	445,004
	----	---------	---------
At 31 December 2019	1	300,000	300,001
	----	---------	---------

7. Debtors

	2020	2019
	£	£
Trade debtors	8,883	1,280
Amounts owed by group undertakings and undertakings in which the company has a participating interest	112,257	21,599
Other debtors	178,416	88,475
	---------	---------
	299,556	111,354
	---------	---------

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	4,154	–
Trade creditors	12,937	1,123
Social security and other taxes	34,628	2,901
Other creditors	714,064	422,350
	---------	---------
	765,783	426,374
	---------	---------

9. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Bank loans and overdrafts	38,571	–
	--------	----

10. Related party transactions

At the balance sheet date a director was owed £654,634 (2019: £396,440). At the balance sheet date another director was owed £52,504 (2019: £24,927). At the balance sheet date the company was owed £75,945 (2019: nil) by a company related by common directorship. At the balance sheet date the company was owed £36,312 (2019: £21,599) by another company related by common directorship.