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REGISTERED NUMBER: 08418986 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

NOVOSCOPE IP LIMITED

NOVOSCOPE IP LIMITED (REGISTERED NUMBER: 08418986)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NOVOSCOPE IP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: J R Clube





REGISTERED OFFICE: 4 Office Village
Forder Way
Cygnet Park
Hampton
Peterborough
PE7 8GX





REGISTERED NUMBER: 08418986 (England and Wales)





ACCOUNTANTS: TC Group
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

NOVOSCOPE IP LIMITED (REGISTERED NUMBER: 08418986)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,594 1,992
Tangible assets 5 - -
1,594 1,992

CURRENT ASSETS
Debtors 6 12,743 -
Cash at bank 19 8,067
12,762 8,067
CREDITORS
Amounts falling due within one year 7 65,329 61,247
NET CURRENT LIABILITIES (52,567 ) (53,180 )
TOTAL ASSETS LESS CURRENT LIABILITIES (50,973 ) (51,188 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (51,073 ) (51,288 )
SHAREHOLDERS' FUNDS (50,973 ) (51,188 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 November 2023 and were signed by:





J R Clube - Director


NOVOSCOPE IP LIMITED (REGISTERED NUMBER: 08418986)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Novoscope IP 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.

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 have also been consistently applied within the same accounts.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operation existence for the foreseeable future. The validity of this assumption depends upon an improvement in the company's trading position and continued financial support from its owner.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

NOVOSCOPE IP LIMITED (REGISTERED NUMBER: 08418986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 3,986
AMORTISATION
At 1 March 2022 1,994
Charge for year 398
At 28 February 2023 2,392
NET BOOK VALUE
At 28 February 2023 1,594
At 28 February 2022 1,992

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2022
and 28 February 2023 856
DEPRECIATION
At 1 March 2022
and 28 February 2023 856
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Deferred tax asset 12,743 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' loan accounts 64,908 60,947
Accruals and deferred income 421 300
65,329 61,247

NOVOSCOPE IP LIMITED (REGISTERED NUMBER: 08418986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. DEFERRED TAX
£   
Provided during year (12,743 )
Accelerated capital allowances
Balance at 28 February 2023 (12,743 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000,000 Ordinary 0.000 1 100 100

10. RELATED PARTY DISCLOSURES

Included in creditors is an amount owed to the director, Mr J R Clube, of £64,908 (2022: £60,947). This loan is interest free and repayable on demand

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J R Clube.