Company No:
Contents
2024 | 2023 | |||
£ | £ | |||
Current assets | ||||
Debtors | 3 |
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Cash at bank and in hand |
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1,804 | 1,131 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current liabilities | (26,410) | (17,838) | ||
Total assets less current liabilities | (26,410) | (17,838) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 5 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of Novlolak Ltd (registered number:
Dr Natalie McGregor
Director |
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.
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 £.
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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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£ | £ | ||
Trade debtors |
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Prepayments |
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VAT recoverable |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to director |
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Accruals |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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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.