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REGISTERED NUMBER: 13511492 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 July 2023

for

Novu Salons Ltd

Novu Salons Ltd (Registered number: 13511492)

Contents of the Financial Statements
For The Year Ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Novu Salons Ltd

Company Information
For The Year Ended 31 July 2023







DIRECTOR: Mrs A Ali Said





SECRETARY:





REGISTERED OFFICE: Flat 3 Berrywood
62 Oriental Road
Woking
GU22 7BD





REGISTERED NUMBER: 13511492 (England and Wales)





ACCOUNTANTS: Hunt Ford & Co
Osborne House
143-145 Stanwell Road
Ashford
Middlesex
TW15 3QN

Novu Salons Ltd (Registered number: 13511492)

Balance Sheet
31 July 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,837 3,547

CURRENT ASSETS
Debtors 5 6,000 6,000
Cash at bank and in hand 20,401 17,459
26,401 23,459
CREDITORS
Amounts falling due within one year 6 24,442 26,530
NET CURRENT ASSETS/(LIABILITIES) 1,959 (3,071 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,796

476

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 4,795 475
SHAREHOLDERS' FUNDS 4,796 476

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

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

The director acknowledges her 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.

Novu Salons Ltd (Registered number: 13511492)

Balance Sheet - continued
31 July 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 director and authorised for issue on 24 April 2024 and were signed by:





Mrs A Ali Said - Director


Novu Salons Ltd (Registered number: 13511492)

Notes to the Financial Statements
For The Year Ended 31 July 2023


1. STATUTORY INFORMATION

Novu Salons Ltd 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

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.

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.

Novu Salons Ltd (Registered number: 13511492)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued

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 6 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022
and 31 July 2023 1,384 2,550 499 4,433
DEPRECIATION
At 1 August 2022 276 510 100 886
Charge for year 222 408 80 710
At 31 July 2023 498 918 180 1,596
NET BOOK VALUE
At 31 July 2023 886 1,632 319 2,837
At 31 July 2022 1,108 2,040 399 3,547

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Other debtors 6,000 6,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade creditors 1,547 -
Tax 2,850 -
Social security and other taxes 2,500 609
Pension 104 -
VAT 5,036 -
Other Loans 1,665 18,178
Directors' current accounts 9,450 6,453
Accrued expenses 1,290 1,290
24,442 26,530

Novu Salons Ltd (Registered number: 13511492)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/7/23 31/7/22
value: £    £   
1 Ordinary £1 1 1

8. RESERVES
Retained
earnings
£   

At 1 August 2022 475
Profit for the year 14,320
Dividends (10,000 )
At 31 July 2023 4,795