Company No:
Contents
Note | 31.03.2023 | |
£ | ||
Fixed assets | ||
Intangible assets | 3 |
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20,858 | ||
Current assets | ||
Debtors | 4 |
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Cash at bank and in hand |
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6,871 | ||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (22,464) | |
Total assets less current liabilities | (1,606) | |
Net liabilities | (
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Capital and reserves | ||
Called-up share capital |
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Profit and loss account | (
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Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of Novola Limited (registered number:
David Richard Anthony Mack
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
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 £.
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.
Website costs | not amortised |
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.
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.
14 month period to 31.03.2023 |
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Number | |
Monthly average number of persons employed by the Company during the period. |
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Website costs | Total | ||
£ | £ | ||
Cost | |||
At 04 February 2022 |
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Additions |
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At 31 March 2023 |
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Accumulated amortisation | |||
At 04 February 2022 |
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At 31 March 2023 |
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Net book value | |||
At 31 March 2023 |
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31.03.2023 | |
£ | |
Prepayments |
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Deferred tax asset |
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VAT recoverable |
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31.03.2023 | |
£ | |
Amounts owed to Parent undertakings |
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Accruals |
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31.03.2023 | |
£ | |
At the beginning of financial period |
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Credited to the Income Statement |
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At the end of financial period |
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