Company Registration No. 06971486 (England and Wales)
Nova Cars Limited
Unaudited accounts
for the year ended 31 July 2023
Nova Cars Limited
Unaudited accounts
Contents
Nova Cars Limited
Company Information
for the year ended 31 July 2023
Directors
T J Prew
S M Prew
Company Number
06971486 (England and Wales)
Registered Office
Nova Cars Limited
2 Granville Avenue
NEWPORT
Shropshire
TF10 7DX
England
Accountants
Pedley's Accountancy Services Ltd
Lichfield Lodge
Weston Under Lizard
Nr Shifnal
Shropshire
TF11 8LZ
Nova Cars Limited
Statement of financial position
as at 31 July 2023
Tangible assets
395,021
395,021
Inventories
450,624
428,125
Cash at bank and in hand
93,463
68,645
Creditors: amounts falling due within one year
(268,829)
(244,117)
Net current assets
224,468
244,854
Total assets less current liabilities
619,489
639,875
Creditors: amounts falling due after more than one year
(100,417)
(121,985)
Net assets
519,072
517,890
Called up share capital
2
2
Profit and loss account
519,070
517,888
Shareholders' funds
519,072
517,890
For the year ending 31 July 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 18 April 2024 and were signed on its behalf by
T J Prew
Director
Company Registration No. 06971486
Nova Cars Limited
Notes to the Accounts
for the year ended 31 July 2023
Nova Cars Limited is a private company, limited by shares, registered in England and Wales, registration number 06971486. The registered office is Nova Cars Limited, 2 Granville Avenue , NEWPORT, Shropshire, TF10 7DX, England.
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.
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:
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 August 2022
395,021
58,859
3,536
11,586
18,417
487,419
At 31 July 2023
395,021
58,859
3,536
11,586
18,417
487,419
At 1 August 2022
-
58,859
3,536
11,586
18,417
92,398
At 31 July 2023
-
58,859
3,536
11,586
18,417
92,398
At 31 July 2023
395,021
-
-
-
-
395,021
At 31 July 2022
395,021
-
-
-
-
395,021
Nova Cars Limited
Notes to the Accounts
for the year ended 31 July 2023
Amounts falling due within one year
Trade debtors
(33,898)
(20,114)
Accrued income and prepayments
4,370
8,529
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
22,199
22,830
Trade creditors
35,187
39,234
Taxes and social security
15,503
28,995
Other creditors
22,574
28,082
Loans from directors
146,356
119,164
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
100,417
121,985
8
Average number of employees
During the year the average number of employees was 4 (2022: 4).