Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Dr Natalie McGregor 28/01/2010 26 August 2024 The principal activity in the year was that of the production of non-alcoholic gin. 07138851 2024-01-31 07138851 bus:Director1 2024-01-31 07138851 core:CurrentFinancialInstruments 2024-01-31 07138851 core:CurrentFinancialInstruments 2023-01-31 07138851 2023-01-31 07138851 core:ShareCapital 2024-01-31 07138851 core:ShareCapital 2023-01-31 07138851 core:RetainedEarningsAccumulatedLosses 2024-01-31 07138851 core:RetainedEarningsAccumulatedLosses 2023-01-31 07138851 bus:OrdinaryShareClass1 2024-01-31 07138851 2023-02-01 2024-01-31 07138851 bus:FilletedAccounts 2023-02-01 2024-01-31 07138851 bus:SmallEntities 2023-02-01 2024-01-31 07138851 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07138851 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07138851 bus:Director1 2023-02-01 2024-01-31 07138851 2022-02-01 2023-01-31 07138851 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 07138851 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07138851 (England and Wales)

NOVLOLAK LTD

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

NOVLOLAK LTD

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

NOVLOLAK LTD

STATEMENT OF FINANCIAL POSITION

As at 31 January 2024
NOVLOLAK LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2024
2024 2023
£ £
Current assets
Debtors 3 1,784 457
Cash at bank and in hand 20 674
1,804 1,131
Creditors: amounts falling due within one year 4 ( 28,214) ( 18,969)
Net current liabilities (26,410) (17,838)
Total assets less current liabilities (26,410) (17,838)
Net liabilities ( 26,410) ( 17,838)
Capital and reserves
Called-up share capital 5 1 1
Profit and loss account ( 26,411 ) ( 17,839 )
Total shareholder's deficit ( 26,410) ( 17,838)

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Novlolak Ltd (registered number: 07138851) were approved and authorised for issue by the Director on 26 August 2024. They were signed on its behalf by:

Dr Natalie McGregor
Director
NOVLOLAK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
NOVLOLAK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Novlolak Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1-3 College Yard, Worcester, WR1 2LB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Debtors

2024 2023
£ £
Trade debtors 575 49
Prepayments 858 0
VAT recoverable 351 408
1,784 457

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 5,763 0
Amounts owed to director 20,451 16,019
Accruals 2,000 2,950
28,214 18,969

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

6. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts owed to the director 20,451 16,019

No interest has been charged on this balance and there is no fixed date for repayment.