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REGISTERED NUMBER: 10514214 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Novara Technologies Limited

Novara Technologies Limited (Registered number: 10514214)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Novara Technologies Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: I Aldridge
N J Foster
D R Smith





REGISTERED OFFICE: Unit 7 Taplins Court
Church Lane
Hartley Wintney
Hampshire
RG27 8XU





REGISTERED NUMBER: 10514214 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Novara Technologies Limited (Registered number: 10514214)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000 4,000
Tangible assets 5 149,950 152,507
152,950 156,507

CURRENT ASSETS
Stocks 57,470 26,142
Debtors 6 516,107 274,096
Cash at bank 377,299 192,243
950,876 492,481
CREDITORS
Amounts falling due within one year 7 381,292 80,611
NET CURRENT ASSETS 569,584 411,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

722,534

568,377

CREDITORS
Amounts falling due after more than one
year

8

478,334

388,334
NET ASSETS 244,200 180,043

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Share premium 239,000 239,000
Retained earnings 4,200 (59,957 )
SHAREHOLDERS' FUNDS 244,200 180,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Novara Technologies Limited (Registered number: 10514214)

Balance Sheet - continued
31 August 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 February 2024 and were signed on its behalf by:





N J Foster - Director


Novara Technologies Limited (Registered number: 10514214)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Novara Technologies 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Improvements - 4% on cost
Plant and machinery - 10% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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


Novara Technologies Limited (Registered number: 10514214)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 September 2022
and 31 August 2023 5,000
AMORTISATION
At 1 September 2022 1,000
Amortisation for year 1,000
At 31 August 2023 2,000
NET BOOK VALUE
At 31 August 2023 3,000
At 31 August 2022 4,000

Novara Technologies Limited (Registered number: 10514214)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


5. TANGIBLE FIXED ASSETS
Leasehold Plant and Computer
Improvements machinery equipment Totals
£    £    £    £   
COST
At 1 September 2022 148,482 5,087 2,113 155,682
Additions 4,656 - - 4,656
At 31 August 2023 153,138 5,087 2,113 160,338
DEPRECIATION
At 1 September 2022 2,475 170 530 3,175
Charge for year 6,063 509 641 7,213
At 31 August 2023 8,538 679 1,171 10,388
NET BOOK VALUE
At 31 August 2023 144,600 4,408 942 149,950
At 31 August 2022 146,007 4,917 1,583 152,507

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 377,106 68,654
Other debtors 139,001 205,442
516,107 274,096

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 352,328 49,155
Taxation and social security 3,313 6,456
Other creditors 15,651 15,000
381,292 80,611

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 23,333 33,333
Other creditors 455,001 355,001
478,334 388,334

Novara Technologies Limited (Registered number: 10514214)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
425 A Ordinary £1 425 425
575 B Ordinary £1 575 575
1,000 1,000