NoBlue Limited - Filleted accounts

NoBlue Limited - Filleted accounts

NOBLUE LIMITED - Company Information

Print Friendly Version

Registered number
03979449
NoBlue Limited
Filleted Accounts
31 December 2022
NoBlue Limited
Registered number: 03979449
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 29,052 -
Tangible assets 4 206,834 30,539
Investments 5 9 9
235,895 30,548
Current assets
Stocks 11,968 3,600
Debtors 6 2,950,203 2,474,162
Cash at bank and in hand 87,751 92,513
3,049,922 2,570,275
Creditors: amounts falling due within one year 7 (602,179) (554,629)
Net current assets 2,447,743 2,015,646
Total assets less current liabilities 2,683,638 2,046,194
Creditors: amounts falling due after more than one year 8 (64,190) -
Provisions for liabilities (16,082) -
Net assets 2,603,366 2,046,194
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,603,364 2,046,192
Shareholders' funds 2,603,366 2,046,194
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R J Doar
Director
Approved by the board on 25 August 2023
NoBlue Limited
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 10 years
Plant and machinery over 4 years
Motor vehicles - leased vehicles over 3 years
Motor vehicles - owned vehicles over 10 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. For the majority of stock lines, cost is determined on a specific basis, with each item being identified and valued separately. For the remaining items, cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 63 52
3 Intangible fixed assets £
Development costs:
Cost
Additions 32,643
At 31 December 2022 32,643
Amortisation
Provided during the year 3,591
At 31 December 2022 3,591
Net book value
At 31 December 2022 29,052
Development costs are being written off in equal annual instalments over the estimated economic life of 5 years, commencing when the developed product is brought into use.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2022 - 120,067 - 120,067
Additions 18,186 33,303 166,950 218,439
At 31 December 2022 18,186 153,370 166,950 338,506
Depreciation
At 1 January 2022 - 89,528 - 89,528
Charge for the year 152 22,004 19,988 42,144
At 31 December 2022 152 111,532 19,988 131,672
Net book value
At 31 December 2022 18,034 41,838 146,962 206,834
At 31 December 2021 - 30,539 - 30,539
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2022 9
At 31 December 2022 9
6 Debtors 2022 2021
£ £
Trade debtors 334,515 197,527
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,111,635 2,198,482
Other debtors 504,053 78,153
2,950,203 2,474,162
7 Creditors: amounts falling due within one year 2022 2021
£ £
Obligations under finance lease and hire purchase contracts 16,331 -
Trade creditors 71,862 116,946
Amounts owed to group undertakings and undertakings in which the company has a participating interest 12,692 4,325
Taxation and social security costs 179,957 407,263
Other creditors 321,337 26,095
602,179 554,629
8 Creditors: amounts falling due after one year 2022 2021
£ £
Obligations under finance lease and hire purchase contracts 64,190 -
9 Loans to (from) directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr I Irwin
Interest free and repayable on demand 7,567 195,470 (204,000) (963)
Mr P Baker (resigned 30th June 2023)
Director's loan account
Interest free and repayable on demand (9,500) 185,249 (204,000) (28,251)
Mr D Atherton (resigned 30th June 2023)
Interest free and repayable on demand 30,000 51,489 (26,131) 55,358
28,067 432,208 (434,131) 26,144
10 Related party transactions
During the year the company lent funds to and borrowed funds from its subsidiary company NoBlue SaaS Limited (registered in England and Wales). No interest is charged on these loans. At the period end NoBlue Limited was owed £2,111,635 (2021: £2,198,482) by NoBlue SaaS Limited. This amount is included within debtors.
During the year NoBlue Limited charged NoBlue SaaS Limited management fees of £4,200,000 (2021: £3,620,000). This was for goods and services provided by NoBlue Limited for NoBlue SaaS Limited.
At the period end NoBlue Limited owed £12,692 (2021 £4,325) to an overseas associated company NoBlue Spain S.L.
11 Ultimate parent company
The ultimate parent company of the group is Goodman Topco Limited, whose registered office is 2/3 H2o Business Park, Lake View Drive, Annesley, Nottingham, NG15 0HT.
12 Other information
NoBlue Limited is a private company limited by shares and incorporated in England. Its registered office is:
2/3 H2o Business Park
Lake View Drive
Annesley
Nottingham
NG15 0HT
NoBlue Limited 03979449 false 2022-01-01 2022-12-31 2022-12-31 VT Final Accounts April 2022 Mr R J Doar No description of principal activity 03979449 2021-01-01 2021-12-31 03979449 core:WithinOneYear 2021-12-31 03979449 core:AfterOneYear 2021-12-31 03979449 core:ShareCapital 2021-12-31 03979449 core:RetainedEarningsAccumulatedLosses 2021-12-31 03979449 2022-01-01 2022-12-31 03979449 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 03979449 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 03979449 bus:Director40 2022-01-01 2022-12-31 03979449 1 2022-01-01 2022-12-31 03979449 2 2022-01-01 2022-12-31 03979449 core:Goodwill 2022-01-01 2022-12-31 03979449 core:LandBuildings 2022-01-01 2022-12-31 03979449 core:PlantMachinery 2022-01-01 2022-12-31 03979449 core:Vehicles 2022-01-01 2022-12-31 03979449 bus:Director2 2022-01-01 2022-12-31 03979449 bus:Director2 2 2022-01-01 2022-12-31 03979449 bus:Director3 2022-01-01 2022-12-31 03979449 bus:Director3 2 2022-01-01 2022-12-31 03979449 countries:England 2022-01-01 2022-12-31 03979449 bus:FRS102 2022-01-01 2022-12-31 03979449 bus:FullAccounts 2022-01-01 2022-12-31 03979449 2022-12-31 03979449 core:WithinOneYear 2022-12-31 03979449 core:AfterOneYear 2022-12-31 03979449 core:ShareCapital 2022-12-31 03979449 core:RetainedEarningsAccumulatedLosses 2022-12-31 03979449 core:Goodwill 2022-12-31 03979449 core:LandBuildings 2022-12-31 03979449 core:PlantMachinery 2022-12-31 03979449 core:Vehicles 2022-12-31 03979449 bus:Director2 2 2022-12-31 03979449 bus:Director3 2 2022-12-31 03979449 2021-12-31 03979449 core:LandBuildings 2021-12-31 03979449 core:PlantMachinery 2021-12-31 03979449 core:Vehicles 2021-12-31 03979449 bus:Director2 2 2021-12-31 03979449 bus:Director3 2 2021-12-31 iso4217:GBP xbrli:pure