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Registered Number: SC763706
Scotland

 

 

 


Report of the Directors and Unaudited Financial Statements

for the period ended 31 March 2024

for

NOVASPHERE LIMITED

 
 
 
£
2024
£
Fixed assets 274,607 
Current assets 146 
Creditors: amount falling due within one year (1,440)
Net current assets (1,294)
Total assets less current liabilities 273,313 
Creditors: amount falling due after more than one year (280,120)
Net assets (6,807)
 
Capital and reserves (6,807)
 
  1. For the period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
  2. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 of the companies act 2006.
  3. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the board of directors:


----------------------------------
Vasudeva Rao Vidadala
Director

Date approved: 03 September 2024
1
Statutory Information
NOVASPHERE LIMITED is a private limited company, limited by shares, domiciled in Scotland, registration number SC763706, registration address 18 Farm Place, Livingston, EH54 6SD, United Kingdom.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2.

Tangible fixed assets

Cost or Valuation Freehold property   Total
  £   £
At 27 March 2023  
Additions 274,607    274,607 
Disposals  
At 31 March 2024 274,607    274,607 
Depreciation
At 27 March 2023  
Charge for period  
On disposals  
At 31 March 2024  
Net book values
Closing balance as at 31 March 2024 274,607    274,607 

3.

Average number of employees

Average number of employees during the period was 4 .
2