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REGISTERED NUMBER: 09115103 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

FOR

NOVUS RESOURCING LTD

NOVUS RESOURCING LTD (REGISTERED NUMBER: 09115103)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NOVUS RESOURCING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2021







DIRECTOR: Mr L R Paddington





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 09115103 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

NOVUS RESOURCING LTD (REGISTERED NUMBER: 09115103)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 514 685

CURRENT ASSETS
Debtors 5 87,509 83,440
Cash at bank and in hand 89,696 92,637
177,205 176,077
CREDITORS
Amounts falling due within one year 6 133,877 173,912
NET CURRENT ASSETS 43,328 2,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,842

2,850

CREDITORS
Amounts falling due after more than one year 7 39,172 -
NET ASSETS 4,670 2,850

CAPITAL AND RESERVES
Called up share capital 1 1
Capital redemption reserve 1 1
Retained earnings 4,668 2,848
SHAREHOLDERS' FUNDS 4,670 2,850

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 12 September 2022 and were signed by:





Mr L R Paddington - Director


NOVUS RESOURCING LTD (REGISTERED NUMBER: 09115103)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

1. STATUTORY INFORMATION

Novus Resourcing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

TURNOVER
Turnover represents net invoiced sales of services, excluding value added tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance.
Computer equipment - 25% on cost

GOVERNMENT GRANTS
The company received several Covid-19 related grants throughout the year, amounting to £60,282 (2020: £91,986). These were recognised in 'other income'.

The company also received Government grant of £1,140 (2020: £nil) which covers the interest due on the interest-free period of the Bounce Back Loan received during the year.

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 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.

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.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 5 ) .

NOVUS RESOURCING LTD (REGISTERED NUMBER: 09115103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2021

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2020
and 31 October 2021 2,152 7,469 9,621
DEPRECIATION
At 1 November 2020 1,467 7,469 8,936
Charge for year 171 - 171
At 31 October 2021 1,638 7,469 9,107
NET BOOK VALUE
At 31 October 2021 514 - 514
At 31 October 2020 685 - 685

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 46,546 15,887
Other debtors 40,963 67,553
87,509 83,440

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 10,000 50,000
Trade creditors 3,653 2,192
Taxation and social security 111,843 113,975
Other creditors 8,381 7,745
133,877 173,912

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 39,172 -

8. RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year, is an interest free amount of £462 (2020: £308), due to the director.