1 January 2022 false No description of principal activity Taxfiler 2023.9.1 12849993business:PrivateLimitedCompanyLtd2022-01-012022-12-31 128499932021-12-31 128499932022-01-012022-12-31 12849993business:AuditExemptWithAccountantsReport2022-01-012022-12-31 12849993business:FilletedAccounts2022-01-012022-12-31 128499932022-12-31 12849993business:Director32022-01-012022-12-31 12849993business:RegisteredOffice2022-01-012022-12-31 128499932021-12-31 12849993core:WithinOneYear2022-12-31 12849993core:WithinOneYear2021-12-31 12849993core:AfterOneYear2022-12-31 12849993core:AfterOneYear2021-12-31 12849993core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 12849993core:ShareCapitalcore:PreviouslyStatedAmount2021-12-31 12849993core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 12849993core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2021-12-31 12849993core:PreviouslyStatedAmount2022-12-31 12849993core:PreviouslyStatedAmount2021-12-31 12849993business:SmallEntities2022-01-012022-12-31 12849993countries:EnglandWales2022-01-012022-12-31 12849993core:ComputerEquipment2022-01-012022-12-31 12849993core:ComputerEquipment2021-12-31 12849993core:ComputerEquipment2022-12-31 12849993business:OrdinaryShareClass12022-01-012022-12-31 12849993business:OrdinaryShareClass12021-01-012021-12-31 128499932021-01-012021-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 12849993 (England and Wales)
NOVADE UK LTD Unaudited accounts for the year ended 31 December 2022
NOVADE UK LTD Unaudited accounts Contents
Page
- 2 -
NOVADE UK LTD Company Information for the year ended 31 December 2022
Director
Denis Branthorne
Company Number
12849993 (England and Wales)
Registered Office
BECKET HOUSE NOVADE UK LTD BECKET HOUSE, 1 LAMBETH PALACE ROAD LONDON SE1 7EU UNITED KINGDOM
Accountants
Sleek Accounting Ltd 107 Kirkgate Leeds West Yorkshire LS1 6DP
- 3 -
NOVADE UK LTD Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,653 
4,219 
Current assets
Debtors
198,753 
17,721 
Cash at bank and in hand
447,759 
1,664 
646,512 
19,385 
Creditors: amounts falling due within one year
(540,606)
(223,867)
Net current assets/(liabilities)
105,906 
(204,482)
Total assets less current liabilities
108,559 
(200,263)
Creditors: amounts falling due after more than one year
(343,916)
- 
Net liabilities
(235,357)
(200,263)
Capital and reserves
Called up share capital
50,000 
50,000 
Profit and loss account
(285,357)
(250,263)
Shareholders' funds
(235,357)
(200,263)
For the year ending 31 December 2022 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 10 October 2023 and were signed on its behalf by
Denis Branthorne Director Company Registration No. 12849993
- 4 -
NOVADE UK LTD Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
NOVADE UK LTD is a private company, limited by shares, registered in England and Wales, registration number 12849993. The registered office is BECKET HOUSE NOVADE UK LTD, BECKET HOUSE, 1 LAMBETH PALACE ROAD, LONDON, SE1 7EU, UNITED KINGDOM.
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.
Presentation currency
The accounts are presented in £ sterling.
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:
Computer equipment
33% Straight line
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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
- 5 -
NOVADE UK LTD Notes to the Accounts for the year ended 31 December 2022
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2022
4,700 
At 31 December 2022
4,700 
Depreciation
At 1 January 2022
481 
Charge for the year
1,566 
At 31 December 2022
2,047 
Net book value
At 31 December 2022
2,653 
At 31 December 2021
4,219 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
VAT
- 
4,177 
Trade debtors
191,941 
10,500 
Accrued income and prepayments
6,367 
2,598 
Other debtors
445 
446 
198,753 
17,721 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade creditors
214 
444 
Amounts owed to group undertakings and other participating interests
388,339 
165,190 
Taxes and social security
85,633 
8,844 
Other creditors
- 
1,299 
Accruals
795 
1,000 
Deferred income
65,625 
47,090 
540,606 
223,867 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Deferred income
343,916 
- 
8
Share capital
2022 
2021 
£ 
£ 
Allotted, called up and fully paid:
10,000 Ordinary shares of £5 each
50,000 
50,000 
- 6 -
NOVADE UK LTD Notes to the Accounts for the year ended 31 December 2022
9
Transactions with related parties
Included in creditors is an amount of £337,568 owed to Novade Solutions PTE Ltd, an entity controlled by a director of the company. The amount is unsecured, interest free and repayable on demand. Included in creditors is an amount of £50,771 owed to Novade Solutions Europe, an entity controlled by a director of the company. The amount is unsecured, interest free and repayable on demand.
10
Controlling party
The company is a wholly owned subsidiary of Novade Solutions PTE Ltd, which is the ultimate controlling party.
11
Average number of employees
During the year the average number of employees was 5 (2021: 7).
- 7 -