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Company Registration No. 07630992 (England and Wales)
Novo Enterprises Ltd Unaudited accounts for the year ended 31 May 2023
Novo Enterprises Ltd Unaudited accounts Contents
Page
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Novo Enterprises Ltd Company Information for the year ended 31 May 2023
Directors
Mr D P Phillips Mrs T R Phillips
Company Number
07630992 (England and Wales)
Registered Office
Churchill House, Suite 112 120 Bunns Lane London NW7 2AS
Accountants
Platts Churchill House, Suite 112 120 Bunns Lane Mill Hill London NW7 2AS
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Novo Enterprises Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
18,098 
23,458 
Current assets
Cash at bank and in hand
38,220 
38,014 
Creditors: amounts falling due within one year
(11,761)
(10,969)
Net current assets
26,459 
27,045 
Net assets
44,557 
50,503 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
44,555 
50,501 
Shareholders' funds
44,557 
50,503 
For the year ending 31 May 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 directors acknowledge their 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 of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by
Mr D P Phillips Director Company Registration No. 07630992
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Novo Enterprises Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Novo Enterprises Ltd is a private company, limited by shares, registered in England and Wales, registration number 07630992. The registered office is Churchill House, Suite 112, 120 Bunns Lane, London, NW7 2AS.
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.
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 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.
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.
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
20% straight line basis
Government grants
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Novo Enterprises Ltd Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2022
1,931 
37,180 
39,111 
Additions
2,882 
- 
2,882 
At 31 May 2023
4,813 
37,180 
41,993 
Depreciation
At 1 June 2022
781 
14,872 
15,653 
Charge for the year
806 
7,436 
8,242 
At 31 May 2023
1,587 
22,308 
23,895 
Net book value
At 31 May 2023
3,226 
14,872 
18,098 
At 31 May 2022
1,150 
22,308 
23,458 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
8,517 
8,318 
Loans from directors
844 
251 
Accruals
2,400 
2,400 
11,761 
10,969 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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