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
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
Novo Enterprises Ltd
Statement of financial position
as at 31 May 2023
Tangible assets
18,098
23,458
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
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
Novo Enterprises Ltd
Notes to the Accounts
for the year ended 31 May 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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 in relation to expenditure are credited when the expenditure is charged to profit and loss.
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
At 31 May 2023
4,813
37,180
41,993
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
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
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).