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REGISTERED NUMBER: 07993945 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NOVO COMPONENTS GROUP LIMITED

NOVO COMPONENTS GROUP LIMITED (REGISTERED NUMBER: 07993945)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NOVO COMPONENTS GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M Dubai
C R Veitch
N J Veitch





REGISTERED OFFICE: c/o William Evans & Partners
20 Harcourt Street
London
W1H 4HG





REGISTERED NUMBER: 07993945 (England and Wales)





ACCOUNTANTS: William Evans & Partners
20 Harcourt Street
London
W1H 4HG

NOVO COMPONENTS GROUP LIMITED (REGISTERED NUMBER: 07993945)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes €    €   
FIXED ASSETS
Investments 4 3,658 25,981

CURRENT ASSETS
Debtors 5 24,564 24,564
Cash at bank 338,136 190,737
362,700 215,301
CREDITORS
Amounts falling due within one year 6 (29,329 ) (29,330 )
NET CURRENT ASSETS 333,371 185,971
TOTAL ASSETS LESS CURRENT
LIABILITIES

337,029

211,952

CAPITAL AND RESERVES
Called up share capital 7 150,004 150,004
Retained earnings 8 187,025 61,948
SHAREHOLDERS' FUNDS 337,029 211,952

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 10 September 2024 and were signed on its behalf by:



N J Veitch - Director



M Dubai - Director


NOVO COMPONENTS GROUP LIMITED (REGISTERED NUMBER: 07993945)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Novo Components Group 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Loans to subsidiaries are shown at their original transaction cost. As these loans bear interest at a market rate it is considered that this cost equates to fair market value.

Where loans are considered irrecoverable or impaired provision is made for the impairment. This impairment is reviewed each year.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

NOVO COMPONENTS GROUP LIMITED (REGISTERED NUMBER: 07993945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. FIXED ASSET INVESTMENTS

2023 2022
€    €   
Shares in group undertakings 3,658 15,698
Loans to group undertakings - 10,283
3,658 25,981

Additional information is as follows:
Shares in
group
undertakings
€   
COST
At 1 January 2023 15,698
Disposals (12,040 )
At 31 December 2023 3,658
NET BOOK VALUE
At 31 December 2023 3,658
At 31 December 2022 15,698

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Novoparts Trade kft
Registered office: Hungary
Nature of business: Service and components to leisure industry
%
Class of shares: holding
Ordinary 100.00
2023 2022
€    €   
Aggregate capital and reserves 1,126,458 914,982
Profit for the year 353,161 314,806


Eurocoin Gaming Drustvo sa
Registered office: Serbia
Nature of business: Service and components to leisure industry
%
Class of shares: holding
Ordinary 80.00
2023 2022
€    €   
Aggregate capital and reserves 324,056 599,274
Profit for the year 95,101 121,849

NOVO COMPONENTS GROUP LIMITED (REGISTERED NUMBER: 07993945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. FIXED ASSET INVESTMENTS - continued

SC E-Service & Components srl
Registered office: Roumania
Nature of business: Service and components to leisure industry
%
Class of shares: holding
Ordinary 80.00
2023 2022
€    €   
Aggregate capital and reserves 588,083 504,223
Profit for the year 335,376 417,512
Loans to
group
undertakings
€   
At 1 January 2023 10,283
Other movement (10,283 )
At 31 December 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
€    €   
Other debtors 24,564 24,564

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
€    €   
Other creditors 29,329 29,330

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: €    €   
50,002 A Ordinary shares €1 50,002 50,002
100,002 B Ordinary shares €1 100,002 100,002
150,004 150,004

8. RESERVES
Retained
earnings
€   

At 1 January 2023 61,948
Profit for the year 605,245
Dividends (480,168 )
At 31 December 2023 187,025

NOVO COMPONENTS GROUP LIMITED (REGISTERED NUMBER: 07993945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. RELATED PARTY DISCLOSURES

The company had made loans to its subsidiaries totalling €10,283 ( 31st December 2022: €10,283). This sum was repaid in full in the year.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is not known.

There is no ultimate controlling party.