Company Registration No. 08362131 (England and Wales)
Novellino London Ltd
Unaudited accounts
for the year ended 30 April 2024
Novellino London Ltd
Unaudited accounts
Contents
Novellino London Ltd
Company Information
for the year ended 30 April 2024
Company Number
08362131 (England and Wales)
Registered Office
Brindley Goldstein Ltd
103 High Street
Waltham Cross
EN8 7AN
Accountants
Brindley Goldstein Ltd
103 High Street
Waltham Cross
EN8 7AN
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Novellino London Ltd for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Novellino London Ltd for the year ended
30 April 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Novellino London Ltd, as a body, in accordance with the terms of our engagement letter dated 3 August 2016. Our work has been undertaken solely to prepare for your approval the accounts of Novellino London Ltd and state those matters that we have agreed to state to the Board of Directors of Novellino London Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Novellino London Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Novellino London Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Novellino London Ltd. You consider that Novellino London Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Novellino London Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Brindley Goldstein Ltd
Chartered Accountants
103 High Street
Waltham Cross
EN8 7AN
25 July 2024
Novellino London Ltd
Statement of financial position
as at 30 April 2024
Tangible assets
27,613
32,060
Cash at bank and in hand
39,741
52,511
Creditors: amounts falling due within one year
(41,780)
(30,457)
Net current assets
2,911
27,304
Total assets less current liabilities
30,524
59,364
Creditors: amounts falling due after more than one year
(55,243)
(42,555)
Net (liabilities)/assets
(24,719)
16,809
Called up share capital
100
100
Profit and loss account
(24,819)
16,709
Shareholders' funds
(24,719)
16,809
For the year ending 30 April 2024 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 director acknowledges his 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 and authorised for issue on 25 July 2024 and were signed on its behalf by
Mr Y. Barashi
Director
Company Registration No. 08362131
Novellino London Ltd
Notes to the Accounts
for the year ended 30 April 2024
Novellino London Ltd is a private company, limited by shares, registered in England and Wales, registration number 08362131. The registered office is Brindley Goldstein Ltd, 103 High Street, Waltham Cross, EN8 7AN.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Motor vehicles
20% straight line
Fixtures & fittings
10% straight line
The director, having considered the net liability position of the company and made due enquiries, continues to adopt the going concern basis in preparing the financial statements as he will support the company and believe the company will continue in
operation for the foreseeable future.
-
Novellino London Ltd
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 May 2023
-
58,020
58,020
At 30 April 2024
537
58,020
58,557
At 1 May 2023
-
25,960
25,960
Charge for the year
9
4,975
4,984
At 30 April 2024
9
30,935
30,944
At 30 April 2024
528
27,085
27,613
At 30 April 2023
-
32,060
32,060
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,419
2,918
Trade creditors
18,989
2,970
Taxes and social security
1,298
7,927
6
Creditors: amounts falling due after more than one year
2024
2023
Taxes and social security
19,386
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Transactions with related parties
The company was under the control of Mr Y. Barashi throughout the year. Mr Y. Barashi is personally interested in 10% of the company's share capital, Mr D Shaked is personally interested in 45% of the company's share capital and Mr N.Bitton is personally interested in 45% of the company's share capial. Mr Y.Barashi waived his rights to his dividend. Mr D.Shaked received dividends of £53,000 and Mr N.Bitton received dividends of £52,000 and waived his rights to dividends of £1,000.
9
Average number of employees
During the year the average number of employees was 12 (2023: 12).