Silverfin false 31/03/2023 04/02/2022 31/03/2023 David Richard Anthony Mack 04/02/2022 George Christopher Ian Mack 04/02/2022 Robert Michael Edwin Mack 04/02/2022 Michael Iain Stiff 04/02/2022 03 November 2023 Business and domestic software development 13894612 2023-03-31 13894612 bus:Director1 2023-03-31 13894612 bus:Director2 2023-03-31 13894612 bus:Director3 2023-03-31 13894612 bus:Director4 2023-03-31 13894612 core:CurrentFinancialInstruments 2023-03-31 13894612 core:ShareCapital 2023-03-31 13894612 core:RetainedEarningsAccumulatedLosses 2023-03-31 13894612 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-02-03 13894612 2022-02-03 13894612 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-03-31 13894612 core:ImmediateParent core:CurrentFinancialInstruments 2023-03-31 13894612 2022-02-04 2023-03-31 13894612 bus:FullAccounts 2022-02-04 2023-03-31 13894612 bus:SmallEntities 2022-02-04 2023-03-31 13894612 bus:AuditExemptWithAccountantsReport 2022-02-04 2023-03-31 13894612 bus:PrivateLimitedCompanyLtd 2022-02-04 2023-03-31 13894612 bus:Director1 2022-02-04 2023-03-31 13894612 bus:Director2 2022-02-04 2023-03-31 13894612 bus:Director3 2022-02-04 2023-03-31 13894612 bus:Director4 2022-02-04 2023-03-31 13894612 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-02-04 2023-03-31 iso4217:GBP xbrli:pure

Company No: 13894612 (England and Wales)

NOVOLA LIMITED

Unaudited Financial Statements
For the 14 month period from 04 February 2022 to 31 March 2023
Pages for filing with the registrar

NOVOLA LIMITED

Unaudited Financial Statements

For the 14 month period from 04 February 2022 to 31 March 2023

Contents

NOVOLA LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
NOVOLA LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 31.03.2023
£
Fixed assets
Intangible assets 3 20,858
20,858
Current assets
Debtors 4 6,851
Cash at bank and in hand 20
6,871
Creditors: amounts falling due within one year 5 ( 29,335)
Net current liabilities (22,464)
Total assets less current liabilities (1,606)
Net liabilities ( 1,606)
Capital and reserves
Called-up share capital 100
Profit and loss account ( 1,706 )
Total shareholders' deficit ( 1,606)

For the financial period ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Novola Limited (registered number: 13894612) were approved and authorised for issue by the Director. They were signed on its behalf by:

David Richard Anthony Mack
Director

03 November 2023

NOVOLA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the 14 month period from 04 February 2022 to 31 March 2023
NOVOLA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the 14 month period from 04 February 2022 to 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Novola Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hill Farm, Lower Bodham, Holt, NR25 6PR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation


Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs not amortised
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company only enters into basic financial instrument 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 ordinary shares.

2. Employees

14 month period
to 31.03.2023
Number
Monthly average number of persons employed by the Company during the period. 0

3. Intangible assets

Website costs Total
£ £
Cost
At 04 February 2022 0 0
Additions 20,858 20,858
At 31 March 2023 20,858 20,858
Accumulated amortisation
At 04 February 2022 0 0
At 31 March 2023 0 0
Net book value
At 31 March 2023 20,858 20,858

4. Debtors

31.03.2023
£
Prepayments 1,871
Deferred tax asset 397
VAT recoverable 4,583
6,851

5. Creditors: amounts falling due within one year

31.03.2023
£
Amounts owed to Parent undertakings 28,360
Accruals 975
29,335

6. Deferred tax

31.03.2023
£
At the beginning of financial period 0
Credited to the Income Statement 397
At the end of financial period 397