REGISTERED NUMBER:
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NOAA PARTNERS UK LTD. |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 26TH SEPTEMBER 2019 TO 30TH SEPTEMBER 2020 |
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REGISTERED NUMBER:
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NOAA PARTNERS UK LTD. |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 26TH SEPTEMBER 2019 TO 30TH SEPTEMBER 2020 |
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NOAA PARTNERS UK LTD. (REGISTERED NUMBER: 12229374) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 26TH SEPTEMBER 2019 TO 30TH SEPTEMBER 2020 |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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NOAA PARTNERS UK LTD. |
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COMPANY INFORMATION |
FOR THE PERIOD 26TH SEPTEMBER 2019 TO 30TH SEPTEMBER 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
923 Finchley Road |
London |
NW11 7PE |
NOAA PARTNERS UK LTD. (REGISTERED NUMBER: 12229374) |
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ABRIDGED STATEMENT OF FINANCIAL POSITION |
30TH SEPTEMBER 2020 |
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Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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NOAA PARTNERS UK LTD. (REGISTERED NUMBER: 12229374) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 26TH SEPTEMBER 2019 TO 30TH SEPTEMBER 2020 |
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1. | STATUTORY INFORMATION |
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NOAA Partners UK Ltd. is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Intangible assets |
Intangible assets are under construction, therefore the directors have decided not to amortise them during the period. Upon completion, these intangibles will be amortised at 20% on cost. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Going concern |
The directors have undertaken not to withdraw their loans to the company without alternative facilities being put in place. For this reason they believe that the going concern basis is appropriate. |
NOAA PARTNERS UK LTD. (REGISTERED NUMBER: 12229374) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 26TH SEPTEMBER 2019 TO 30TH SEPTEMBER 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
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Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
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Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
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Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
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Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL. |
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
Additions |
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At 30th September 2020 |
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NET BOOK VALUE |
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At 30th September 2020 |
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NOAA PARTNERS UK LTD. (REGISTERED NUMBER: 12229374) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 26TH SEPTEMBER 2019 TO 30TH SEPTEMBER 2020 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary shares | £0.0001 | 150 |
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1,500,000 Ordinary shares shares of £0.0001 each were allotted and fully paid for
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6. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of the directors. |