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Company Registration No. 12467887 (England and Wales)
Novitas Decorators Ltd Unaudited accounts for the year ended 31 March 2023
Novitas Decorators Ltd Unaudited accounts Contents
Page
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Novitas Decorators Ltd Company Information for the year ended 31 March 2023
Director
JCD Savage
Company Number
12467887 (England and Wales)
Registered Office
71-75 Shelton Street Covent Garden London WC2H 9JQ
Accountants
Clayton Stirling & Co 123 Cross Lane East Gravesend Kent DA12 5HA
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Novitas Decorators Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,954 
2,162 
Current assets
Debtors
29,620 
36,716 
Cash at bank and in hand
17,955 
12,985 
47,575 
49,701 
Creditors: amounts falling due within one year
(26,976)
(26,539)
Net current assets
20,599 
23,162 
Total assets less current liabilities
22,553 
25,324 
Creditors: amounts falling due after more than one year
(22,412)
(24,930)
Net assets
141 
394 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
140 
393 
Shareholders' funds
141 
394 
For the year ending 31 March 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 September 2022 and were signed on its behalf by
JCD Savage Director Company Registration No. 12467887
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Novitas Decorators Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Novitas Decorators Ltd is a private company, limited by shares, registered in England and Wales, registration number 12467887. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance basis
Motor vehicles
25% reducing balance basis
Computer equipment
20% straight line basis
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments
Investments in shares are included at fair value.
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Novitas Decorators Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
128 
3,661 
- 
3,789 
Additions
- 
- 
333 
333 
At 31 March 2023
128 
3,661 
333 
4,122 
Depreciation
At 1 April 2022
26 
1,601 
- 
1,627 
Charge for the year
20 
515 
6 
541 
At 31 March 2023
46 
2,116 
6 
2,168 
Net book value
At 31 March 2023
82 
1,545 
327 
1,954 
At 31 March 2022
102 
2,060 
- 
2,162 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
29,620 
36,716 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,517 
2,378 
VAT
10,596 
13,668 
Taxes and social security
10,916 
10,183 
Other creditors
2,622 
- 
Accruals
325 
310 
26,976 
26,539 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
22,412 
24,930 
Aggregate of amounts that fall due for payment after five years
7,738 
10,952 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
JCD Savage
Director
36,716 
29,620 
36,716 
29,620 
36,716 
29,620 
36,716 
29,620 
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Novitas Decorators Ltd Notes to the Accounts for the year ended 31 March 2023
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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