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REGISTERED NUMBER: 08727411 (England and Wales)















Financial Statements for the Year Ended 30 June 2023

for

Nova (Kent) Limited

Nova (Kent) Limited (Registered number: 08727411)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nova (Kent) Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: M S White
Mrs N F White





REGISTERED OFFICE: Mindora Heights
Mill Lane
Harbledown
Canterbury
Kent
CT2 8NG





REGISTERED NUMBER: 08727411 (England and Wales)





ACCOUNTANTS: A.K & Co (Accountancy Services) Ltd
19 Victoria Terrace
Hove
East Sussex
BN3 2WB

Nova (Kent) Limited (Registered number: 08727411)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 57,377 57,847
Tangible assets 5 645 860
58,022 58,707

CURRENT ASSETS
Stocks 1,288,591 3,385,071
Debtors 6 241,748 130,430
Cash at bank 128,179 23,430
1,658,518 3,538,931
CREDITORS
Amounts falling due within one year 7 3,235,812 3,565,107
NET CURRENT LIABILITIES (1,577,294 ) (26,176 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,519,272

)

32,531

PROVISIONS FOR LIABILITIES 33 163
NET (LIABILITIES)/ASSETS (1,519,305 ) 32,368

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings (1,519,315 ) 32,358
SHAREHOLDERS' FUNDS (1,519,305 ) 32,368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Nova (Kent) Limited (Registered number: 08727411)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2024 and were signed on its behalf by:





Mrs N F White - Director


Nova (Kent) Limited (Registered number: 08727411)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Nova (Kent) 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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

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.

Intangible assets
The mooring lease intangible asset is amortised over the 125 year life of the lease.

3. EMPLOYEES AND DIRECTORS

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

Nova (Kent) Limited (Registered number: 08727411)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022
and 30 June 2023 58,788
AMORTISATION
At 1 July 2022 941
Charge for year 470
At 30 June 2023 1,411
NET BOOK VALUE
At 30 June 2023 57,377
At 30 June 2022 57,847

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 1,075
DEPRECIATION
At 1 July 2022 215
Charge for year 215
At 30 June 2023 430
NET BOOK VALUE
At 30 June 2023 645
At 30 June 2022 860

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 12,000 29,500
Other debtors 189,413 -
Quayside Properties Limited (883 ) 11,656
Standard Quay Tearoom 238 -
Western Heights 87 -
VAT 369 39,722
Prepayments 40,524 49,552
241,748 130,430

Nova (Kent) Limited (Registered number: 08727411)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,711 73,777
Abbey Road Developments 729,483 729,483
Kent Properties Limited 3,015 98,757
Creekside Developments (Faversham) Limited 2,420,282 2,578,000
MW Leasing - 25,987
Abbey Park (Faversham) - 58,788
Directors' current accounts 69,081 -
Accrued expenses 240 315
3,235,812 3,565,107

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10 Ordinary £1 10 10

9. RELATED PARTY DISCLOSURES

The company received working capital from another company, Abbey Road Developments (Kent) Limited. At the year end the balance owed to that company was £729,483 (2022: £729,483).

The company was owed £883 (2022: £ 11,656) by Quayside Properties (Faversham) Limited, a company under joint ownership as at 30.06.2022.

The company owed £2,420,282 (2022: £2,578,000) to Creekside Developments (Faversham) Limited, a company under joint ownership as at 30.06.2022.

The company owed £3,015 (2022: £98,758) to Kent Properties Limited, a company under joint ownership as at 30.06.2022.

The company was owed £12,000 (2022: £29,500) from Creekside 2020 Limited, a company under joint ownership as at 30.06.2022.

The company owed £0 (2022: £58,788) to Abbey Park (Faversham) Limited, a company under the common control of Mr M White.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs N F White.