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REGISTERED NUMBER: 08850364 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Fully Novel Limited

Fully Novel Limited (Registered number: 08850364)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Fully Novel Limited (Registered number: 08850364)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 2,068 3,598

Current assets
Debtors 5 17,461 2,723
Cash at bank 16,408 47,762
33,869 50,485
Creditors
Amounts falling due within one year 6 11,818 15,897
Net current assets 22,051 34,588
Total assets less current liabilities 24,119 38,186

Capital and reserves
Called up share capital 7 100 100
Retained earnings 24,019 38,086
Shareholders' funds 24,119 38,186

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Fully Novel Limited (Registered number: 08850364)

Balance Sheet - continued
31 January 2024


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 director and authorised for issue on 27 March 2024 and were signed by:





T L Klein - Director


Fully Novel Limited (Registered number: 08850364)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. Statutory information

Fully Novel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08850364

Registered office: Pound House
62a Highgate High Street
London
N6 5HX

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost

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.


Fully Novel Limited (Registered number: 08850364)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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.

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.

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.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Tangible fixed assets
Plant and
machinery
£   
Cost
At 1 February 2023 12,347
Additions 225
At 31 January 2024 12,572
Depreciation
At 1 February 2023 8,749
Charge for year 1,755
At 31 January 2024 10,504
Net book value
At 31 January 2024 2,068
At 31 January 2023 3,598

Fully Novel Limited (Registered number: 08850364)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 16,764 2,026
Other debtors 697 697
17,461 2,723

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 116 137
Corporation tax 6,105 9,340
VAT 4,164 5,983
Directors' loan accounts 1,316 320
Accrued expenses 117 117
11,818 15,897

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
51 A Ordinary £1 51 51
49 B Ordinary £1 49 49
100 100

8. Ultimate controlling party

The controlling party is T L Klein.