Noah Design Limited
Noah Design Limited
Registered number: 04414927
Unaudited Financial Statements
For The Year Ended
30 June 2023
Square Mile Accounting Limited
Arquen House
4-6 Spicer Street
St. Albans
AL3 4PQ
Noah Design Limited
Unaudited Financial Statements
For The Year Ended
30 June 2023
Unaudited Financial Statements
| Contents | |
| Page | |
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| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—5 |
Noah Design Limited
Statement of Financial Position
As At
30 June 2023
Statement of Financial Position
Registered number:
04414927
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Income Statement |
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| SHAREHOLDERS' FUNDS | 131 | 2,823 | |||
Noah Design Limited
Statement of Financial Position (continued)
As At
30 June 2023
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Noah Design Limited
Notes to the Financial Statements
For The Year Ended
30 June 2023
Notes to the Financial Statements
1.
General Information
Noah Design Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04414927
. The registered office is Harpenden Hall, Southdown Road, Harpenden, Hertfordshire, AL5 1TE.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3.
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 is reduced for estimated customer returns, rebates and other similar allowances.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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| Fixtures & Fittings |
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| Computer Equipment |
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2.5.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Noah Design Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 June 2023
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
4.
Tangible Assets
| Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
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| Cost | ||||
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| Depreciation | ||||
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| Net Book Value | ||||
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5.
Debtors
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| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Directors' loan accounts |
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| Due after more than one year | |||
| Corporation tax recoverable assets |
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6.
Creditors: Amounts Falling Due Within One Year
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| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Corporation tax |
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| Other taxes and social security | - |
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| VAT |
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| Other creditors |
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| Directors' loan accounts | - |
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The loan from a director is repayable on demand and interest-free.
Noah Design Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 June 2023
7.
Creditors: Amounts Falling Due After More Than One Year
| 2023 | 2022 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Bank loans |
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The finance leases are secured on the assets concerned.
8.
Obligations Under Finance Leases and Hire Purchase
| 2023 | 2022 | ||
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| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
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| Later than one year and not later than five years |
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10.
Dividends
| 2023 | 2022 | ||
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| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
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| 75,488 | 87,907 | ||
11.
Related Party Transactions
During the year the directors owed £9,324 to the company (see note 5). The loan is repayable on demand and interest-free.
During the year, the company advanced a loan of £5,250 to a related company (see note 5), The loan is repayable on demand and interest-free.
During the year, the company advanced a loan of £5,250 to a related company (see note 5), The loan is repayable on demand and interest-free.
12.
Ultimate Controlling Party
The directors are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the
operational and financial policies of the company.