Noah Beers Limited - Accounts to registrar - small 17.2
Noah Beers Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| NOAH BEERS LIMITED |
| NOAH BEERS LIMITED (REGISTERED NUMBER: SC335515) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| NOAH BEERS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 169 West George Street |
| Glasgow |
| G2 2LB |
| NOAH BEERS LIMITED (REGISTERED NUMBER: SC335515) |
| BALANCE SHEET |
| 31 DECEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Share premium |
| Revaluation reserve | 13 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her responsibilities for: |
| (a) | ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company. |
| NOAH BEERS LIMITED (REGISTERED NUMBER: SC335515) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| NOAH BEERS LIMITED (REGISTERED NUMBER: SC335515) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| Noah Beers Limited is a |
| registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Information on the impact of the first-time adoption of FRS 102 is given in the last note to the financial statements. |
| Turnover |
| The turnover shown in the Income Statement represents the value of all goods sold during the year at selling price |
| exclusive of Value Added Tax. Sales are recognised at the point at which the Company has fulfilled its contractual |
| obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the |
| customer. |
| Goodwill |
| Goodwill arising on the acquisition of a business represents the excess of the cost of acquisition (being the cash paid and |
| the fair value of other consideration given) over the fair value of the separable net assets acquired. The fair value of the |
| acquired assets and liabilities are assessed in the year of acquisition and the subsequent year, which may impact on the |
| goodwill recognised. Goodwill is capitalised and written off on a straight line basis over its useful economic life of 20 years. |
| Provision is made for any impairment in its value. The useful economic life is the expected period over which the Company |
| expects to derive an economic benefit, and is reviewed on an annual basis. |
| Amortisation |
| Amortisation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the estimated |
| useful economic life of that asset as follows: |
| Goodwill - 20 years straight line |
| NOAH BEERS LIMITED (REGISTERED NUMBER: SC335515) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets are stated at cost or valuation less depreciation. Cost represents purchase price together with any |
| incidental costs of acquisition. |
| Assets that have been revalued are subject to subsequent revaluation every three or five years, or when there are |
| indications of a significant change in the value of the revalued assets. Assets are valued on an open market value basis. |
| Revaluation surpluses are taken to the revaluation reserve through Other Comprehensive Income in the Statement of |
| Comprehensive Income. Deficits on revaluation are charged to the revaluation reserve up to the amount of the associated |
| revaluation surplus. Any excess deficits are charged to operating profit in the Statement of Comprehensive Income. |
| Where an asset that was previously revalued is disposed of, its book value is eliminated and an appropriate transfer is |
| made from the revaluation reserve to retained earnings. |
| An amount equal to excess of the annual depreciation charge on revalued assets over the notional historical cost |
| depreciation charge on those assets is transferred annually from the revaluation reserve to retained earnings. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
| items. Cost represents purchase price. |
| Financial instruments |
| The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
| Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, |
| according to the substance of the contractual arrangement. |
| Financial instruments which are assets are stated at cost less any provision for impairment. Financial liabilities are stated at |
| principal capital amounts outstanding at the period end. Issue costs relating to financial liabilities are deducted from the |
| outstanding balance and are amortised over the period to the due date for repayment of the financial liability. |
| An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of |
| its liabilities. A financial liability is any contractual arrangement for an entity to deliver cash to the holder of the associated |
| financial instrument. |
| NOAH BEERS LIMITED (REGISTERED NUMBER: SC335515) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent |
| that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
| date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in |
| which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been |
| enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Leasing agreements |
| Rentals payable under operating leases are charged in the Income Statement on a straight line basis over the lease term. |
| Pension costs and other post-retirement benefits |
| The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of |
| the Company in an independently administered fund. Contributions to the Company's defined contribution scheme are |
| charged to the Income Statement in the year in which they become payable. |
| Foreign currencies |
| Transactions denominated in foreign currencies are recorded at the rates of exchange ruling at the dates of the |
| transactions, or at an average rate for the period if the rates do not fluctuate significantly. Monetary assets and liabilities |
| are translated at year end exchange rates. The resulting exchange rate differences are charged to the Income Statement. |
| Research and development |
| Research expenditure is written off to the Income Statement in the year in which it is incurred. Development expenditure |
| is written off in the same way unless the director is satisfied as to the technical, commercial and financial viability of |
| individual projects. In this situation, the expenditure is deferred and amortised over the period during which the Company |
| is expected to benefit. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| NOAH BEERS LIMITED (REGISTERED NUMBER: SC335515) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 January 2016 |
| and 31 December 2016 |
| AMORTISATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Cost or valuation at 31 December 2016 is represented by: |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2016 | 50,000 | - | - | - | 50,000 |
| Cost | 975,892 | 293,970 | 16,830 | 51,277 | 1,337,969 |
| 1,025,892 | 293,970 | 16,830 | 51,277 | 1,387,969 |
| NOAH BEERS LIMITED (REGISTERED NUMBER: SC335515) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| If plant and machinery had not been revalued it would have been included at the following historical cost: |
| 2016 | 2015 |
| £ | £ |
| Cost | 975,892 | 959,163 |
| Aggregate depreciation | 471,460 | 366,164 |
| The value of plant and machinery has been reviewed by the director and she considers the value as recorded in the |
| financial statements as at 31 December 2016 to be reasonable. |
| 6. | DEBTORS |
| 2016 | 2015 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts owed by related companies |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by related companies |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans |
| Other creditors |
| NOAH BEERS LIMITED (REGISTERED NUMBER: SC335515) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2016 | 2015 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2016 | 2015 |
| £ | £ |
| Bank loans |
| Bank loans are secured by a floating charge over the assets of the Company. |
| 11. | PROVISIONS FOR LIABILITIES |
| 2016 | 2015 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2016 |
| Charge to Income Statement during year |
| Balance at 31 December 2016 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £0.01 | 200 | 200 |
| 13. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 January 2016 |
| and 31 December 2016 |
| 14. | RELATED PARTY DISCLOSURES |
| The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
| Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
| owned subsidiaries within the group. |
| NOAH BEERS LIMITED (REGISTERED NUMBER: SC335515) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 14. | RELATED PARTY DISCLOSURES - continued |
| The following transactions with related parties took place during the year: |
| 2016 | 2015 |
| £ | £ |
| Amounts owed from associated companies | 839,935 | 940,717 |
| Amounts owed to associated companies | 18,297 | - |
| Amounts owed to director | - | 110 |
| The director received remuneration totalling £2,700 (2015 - £4,037) during the year. |
| The Company's bank and other loans have been personally guaranteed by the director. |
| The Company is the guarantor to Heidi Beers Limited in respect of it's obligation under the lease for the property. |
| No other transactions with related parties were undertaken such as are required to be disclosed under the provisions of |
| Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and |
| Republic of Ireland". |
| 15. | ULTIMATE CONTROLLING PARTY |
| The Company was under the control of P Wetzel by virtue of her interest in the ultimate parent company, Noah Beers |
| Holdings Limited. |
| 16. | FIRST YEAR ADOPTION |
| The policies applied under the Company's previous accounting framework are not materially different to FRS 102 and have |
| not impacted on equity or profit or loss. The transition date for FRS 102 reporting is 1 January 2015. |