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REGISTERED NUMBER: SC304117 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

LA NOVIA LTD.

LA NOVIA LTD. (REGISTERED NUMBER: SC304117)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LA NOVIA LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2022







DIRECTOR: Ms L Dabic





REGISTERED OFFICE: 6 York Buildings
Queen Street
Edinburgh
EH2 1HY





REGISTERED NUMBER: SC304117 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

LA NOVIA LTD. (REGISTERED NUMBER: SC304117)

BALANCE SHEET
31 OCTOBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 349 246

CURRENT ASSETS
Stocks 45,127 27,768
Debtors 5 4,370 949
Cash at bank and in hand 1 3,146
49,498 31,863
CREDITORS
Amounts falling due within one year 6 382,664 88,013
NET CURRENT LIABILITIES (333,166 ) (56,150 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(332,817

)

(55,904

)

CREDITORS
Amounts falling due after more than one
year

7

13,750

295,777
NET LIABILITIES (346,567 ) (351,681 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (346,667 ) (351,781 )
(346,567 ) (351,681 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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.

LA NOVIA LTD. (REGISTERED NUMBER: SC304117)

BALANCE SHEET - continued
31 OCTOBER 2022


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 30 April 2024 and were signed by:





Ms L Dabic - Director


LA NOVIA LTD. (REGISTERED NUMBER: SC304117)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

1. STATUTORY INFORMATION

La Novia Ltd. is a private company, limited by shares , registered in Scotland. 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.

Going Concern Note

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The company's liabilities exceeded its assets by £346,567 at October 2022 (2021: £351,659). The company is thus dependent on the continued financial support of its creditors. The directors are confident of this continuing support and of the company's long term trading prospects and on this basis considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of financial support.

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 - 25% on a straight line basis
Fixtures and fittings - 20% on a straight line basis
Computer equipment - 33% on a straight line basis

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.

LA NOVIA LTD. (REGISTERED NUMBER: SC304117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022

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 3 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2021 5,796 23,753 3,236 32,785
Additions 245 207 - 452
At 31 October 2022 6,041 23,960 3,236 33,237
DEPRECIATION
At 1 November 2021 5,796 23,753 2,990 32,539
Charge for year 61 42 246 349
At 31 October 2022 5,857 23,795 3,236 32,888
NET BOOK VALUE
At 31 October 2022 184 165 - 349
At 31 October 2021 - - 246 246

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 4,370 -
Other debtors - 949
4,370 949

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 7,637 704
Trade creditors 3,963 31,818
Taxation and social security 25,416 (5,699 )
Other creditors 345,648 61,190
382,664 88,013

LA NOVIA LTD. (REGISTERED NUMBER: SC304117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 13,750 23,750
Other creditors - 272,027
13,750 295,777