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REGISTERED NUMBER: 07669191 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NOVA OUTDOOR LIVING LIMITED

NOVA OUTDOOR LIVING LIMITED (REGISTERED NUMBER: 07669191)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NOVA OUTDOOR LIVING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J J Whiteley
J Oxley
V A Grant
S C Mclaren
L Foucher
C Smithers





REGISTERED OFFICE: Unit 8 Capitol Industrial Estate
Fulmar Way
Wickford
Essex
SS11 8YW





REGISTERED NUMBER: 07669191 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

NOVA OUTDOOR LIVING LIMITED (REGISTERED NUMBER: 07669191)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 6,307 8,067
Tangible assets 5 83,945 -
90,252 8,067

CURRENT ASSETS
Stocks 91,217 277,678
Debtors 6 5,043,143 3,312,290
Cash at bank 244,565 341,867
5,378,925 3,931,835
CREDITORS
Amounts falling due within one year 7 (2,054,220 ) (997,800 )
NET CURRENT ASSETS 3,324,705 2,934,035
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,414,957

2,942,102

CREDITORS
Amounts falling due after more than one
year

8

(16,448

)

(25,213

)

PROVISIONS FOR LIABILITIES (61,167 ) -
NET ASSETS 3,337,342 2,916,889

CAPITAL AND RESERVES
Called up share capital 11 106 106
Share premium 3,412 3,412
Retained earnings 3,333,824 2,913,371
3,337,342 2,916,889

NOVA OUTDOOR LIVING LIMITED (REGISTERED NUMBER: 07669191)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





J J Whiteley - Director


NOVA OUTDOOR LIVING LIMITED (REGISTERED NUMBER: 07669191)

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

1. STATUTORY INFORMATION

Nova Outdoor Living 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.

The previous accounting period was lengthened as a result of a change in year end from August to December. These accounts are prepared for one year. Comparative amounts presented in the financial statements (including the related notes) are not entirely comparable for this reason.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over term of lease

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

NOVA OUTDOOR LIVING LIMITED (REGISTERED NUMBER: 07669191)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2022 - 8 ) .

NOVA OUTDOOR LIVING LIMITED (REGISTERED NUMBER: 07669191)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 8,800
AMORTISATION
At 1 January 2023 733
Charge for year 1,760
At 31 December 2023 2,493
NET BOOK VALUE
At 31 December 2023 6,307
At 31 December 2022 8,067

5. TANGIBLE FIXED ASSETS
Short
leasehold
£   
COST
Additions 85,272
At 31 December 2023 85,272
DEPRECIATION
Charge for year 1,327
At 31 December 2023 1,327
NET BOOK VALUE
At 31 December 2023 83,945

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 775,520 1,036,230
Amounts owed by group undertakings 3,861,885 -
Other debtors 405,738 2,276,060
5,043,143 3,312,290

NOVA OUTDOOR LIVING LIMITED (REGISTERED NUMBER: 07669191)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,996 9,702
Trade creditors 854,562 599,939
Amounts owed to group undertakings 100,000 -
Taxation and social security 932,070 8,534
Other creditors 157,592 379,625
2,054,220 997,800

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 16,448 25,213

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 512,041 -
Between one and five years 341,361 -
853,402 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 26,444 34,915

Debenture including fixed charge over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future dated 24 July 2017.

Unlimited Multilateral Guarantee dated 27 July 2020 given by White Stores Limited, Nova Outdoor Living Ltd, White Stores Retail (Yarnton) Limited, White Stores Retail Limited.

Contract Monies charge dated 01 September 2020.

NOVA OUTDOOR LIVING LIMITED (REGISTERED NUMBER: 07669191)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number Class Nominal Value 2023 2022
£ £
98,208 Ordinary £0.001 98.21 98.21
7,392 Ordinary A £0.001 7.39 7.39
105.60 105.60

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen James Moore (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd