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NOVA ALUMINIUM SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021






NOVA ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 04994857)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NOVA ALUMINIUM SYSTEMS LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2021







DIRECTORS: P T Harvey
R W Hill
B R Harvey
J P Harvey





SECRETARY: P T Harvey





REGISTERED OFFICE: 22 Union Street
Newton Abbot
Devon
TQ12 2JS





REGISTERED NUMBER: 04994857 (England and Wales)

NOVA ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 04994857)

BALANCE SHEET
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 516,018 556,445

CURRENT ASSETS
Stocks 509,757 478,360
Debtors 5 692,565 740,969
Cash at bank and in hand 1,770,591 1,400,345
2,972,913 2,619,674
CREDITORS
Amounts falling due within one year 6 1,117,964 1,140,902
NET CURRENT ASSETS 1,854,949 1,478,772
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,370,967

2,035,217

CREDITORS
Amounts falling due after more than one
year

7

(159,003

)

(215,427

)

PROVISIONS FOR LIABILITIES (14,564 ) (19,842 )
NET ASSETS 2,197,400 1,799,948

CAPITAL AND RESERVES
Called up share capital 1,505 1,505
Retained earnings 2,195,895 1,798,443
SHAREHOLDERS' FUNDS 2,197,400 1,799,948

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

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

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.

NOVA ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 04994857)

BALANCE SHEET - continued
31 December 2021


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2022 and were signed on its behalf by:





P T Harvey - Director


NOVA ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 04994857)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Nova Aluminium Systems Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold - over the period of the lease
Plant & machinery - 1 to 5 years on a straight line basis

Stocks
Stock and work in progress are valued at the lower of cost or net realisable value, after making due allowance for obsolete and slow moving items.
Cost includes all direct expenditure.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

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.

NOVA ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 04994857)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing agreements
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2020 - 50 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 482,958 763,875 1,246,833
Additions - 45,012 45,012
Disposals - (25,138 ) (25,138 )
At 31 December 2021 482,958 783,749 1,266,707
DEPRECIATION
At 1 January 2021 65,081 625,307 690,388
Charge for year 10,596 73,146 83,742
Eliminated on disposal - (23,441 ) (23,441 )
At 31 December 2021 75,677 675,012 750,689
NET BOOK VALUE
At 31 December 2021 407,281 108,737 516,018
At 31 December 2020 417,877 138,568 556,445

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 592,100 662,615
Other debtors 100,465 78,354
692,565 740,969

NOVA ALUMINIUM SYSTEMS LIMITED (REGISTERED NUMBER: 04994857)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 18,666 18,666
Hire purchase contracts 57,177 52,452
Trade creditors 451,557 555,546
Tax 285,896 180,591
Social security and other taxes 239,734 272,483
Accrued expenses 64,934 61,164
1,117,964 1,140,902

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans - 2-5 years 123,959 142,625
Hire purchase contracts 35,044 72,802
159,003 215,427

8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 142,625 161,291

9. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had total commitments under rental agreements over the remaining life of those agreements of £1,250,167 (2020 - £1,293,892)