IRIS Accounts Production v24.1.9.2 04129503 Board of Directors 30.12.22 29.12.23 29.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041295032022-12-29041295032023-12-29041295032022-12-302023-12-29041295032021-12-29041295032021-12-302022-12-29041295032022-12-2904129503ns15:EnglandWales2022-12-302023-12-2904129503ns14:PoundSterling2022-12-302023-12-2904129503ns10:Director12022-12-302023-12-2904129503ns10:PrivateLimitedCompanyLtd2022-12-302023-12-2904129503ns10:SmallEntities2022-12-302023-12-2904129503ns10:AuditExempt-NoAccountantsReport2022-12-302023-12-2904129503ns10:SmallCompaniesRegimeForDirectorsReport2022-12-302023-12-2904129503ns10:SmallCompaniesRegimeForAccounts2022-12-302023-12-2904129503ns10:FullAccounts2022-12-302023-12-2904129503ns10:Director22022-12-302023-12-2904129503ns10:Director32022-12-302023-12-2904129503ns10:RegisteredOffice2022-12-302023-12-2904129503ns5:CurrentFinancialInstruments2023-12-2904129503ns5:CurrentFinancialInstruments2022-12-2904129503ns5:Non-currentFinancialInstruments2023-12-2904129503ns5:Non-currentFinancialInstruments2022-12-2904129503ns5:ShareCapital2023-12-2904129503ns5:ShareCapital2022-12-2904129503ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-2904129503ns5:FurtherSpecificReserve1ComponentTotalEquity2022-12-2904129503ns5:RetainedEarningsAccumulatedLosses2023-12-2904129503ns5:RetainedEarningsAccumulatedLosses2022-12-2904129503ns5:ComputerEquipment2022-12-302023-12-2904129503ns5:ComputerEquipment2022-12-2904129503ns5:ComputerEquipment2023-12-2904129503ns5:ComputerEquipment2022-12-2904129503ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-2904129503ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-2904129503ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-12-2904129503ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-12-29
REGISTERED NUMBER: 04129503 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 DECEMBER 2023

FOR

NOVALONG LIMITED

NOVALONG LIMITED (REGISTERED NUMBER: 04129503)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NOVALONG LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 DECEMBER 2023







DIRECTORS: P J Magee
M R Leslie
N F Boland





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 04129503 (England and Wales)





ACCOUNTANTS: AC Partners LLP
Chartered Accountants
869 High Road
London
N12 8QA

NOVALONG LIMITED (REGISTERED NUMBER: 04129503)

BALANCE SHEET
29 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 339 506
Investment property 5 982,000 982,000
982,339 982,506

CURRENT ASSETS
Debtors 6 2,764,300 2,703,895
Cash at bank 193,605 392,831
2,957,905 3,096,726
CREDITORS
Amounts falling due within one year 7 15,829 25,130
NET CURRENT ASSETS 2,942,076 3,071,596
TOTAL ASSETS LESS CURRENT LIABILITIES 3,924,415 4,054,102

CREDITORS
Amounts falling due after more than one year 8 (408,200 ) (375,200 )

PROVISIONS FOR LIABILITIES (136,140 ) (103,466 )
NET ASSETS 3,380,075 3,575,436

CAPITAL AND RESERVES
Called up share capital 612,050 612,050
Non-distributable reserve 408,419 441,092
Retained earnings 2,359,606 2,522,294
SHAREHOLDERS' FUNDS 3,380,075 3,575,436

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 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.

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 24 June 2024 and were signed on its behalf by:





P J Magee - Director


NOVALONG LIMITED (REGISTERED NUMBER: 04129503)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 DECEMBER 2023

1. STATUTORY INFORMATION

Novalong 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 as modified by the revaluation of certain assets.

TURNOVER
Turnover comprises of rental income receivable in the year.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

INVESTMENT PROPERTY
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

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.

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 2 (2022 - 3 ) .

NOVALONG LIMITED (REGISTERED NUMBER: 04129503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 30 December 2022
and 29 December 2023 5,971
DEPRECIATION
At 30 December 2022 5,465
Charge for year 167
At 29 December 2023 5,632
NET BOOK VALUE
At 29 December 2023 339
At 29 December 2022 506

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 December 2022
and 29 December 2023 982,000
NET BOOK VALUE
At 29 December 2023 982,000
At 29 December 2022 982,000


6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 121,957 106,457
Other debtors 1,555,749 1,510,844
1,677,706 1,617,301

Amounts falling due after more than one year:
Other debtors 1,086,594 1,086,594

Aggregate amounts 2,764,300 2,703,895

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 199 678
Taxation and social security 10,619 7,442
Other creditors 5,011 17,010
15,829 25,130

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 408,200 375,200

9. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Daimler Conquests Limited, a company incorporated in England and Wales.