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REGISTERED NUMBER: 06573994 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Novo CSV Limited

Novo CSV Limited (Registered number: 06573994)






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

Chartered Accountants' Report 9

Novo CSV Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C S Goodburn
Ms G L Shaw





REGISTERED OFFICE: 44 Elwell Street
West Bromwich
West Midlands
B70 0DN





REGISTERED NUMBER: 06573994 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Novo CSV Limited (Registered number: 06573994)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 20,360 31,762

CURRENT ASSETS
Stocks 23,127 27,743
Debtors 5 488,295 475,412
Cash at bank and in hand 82,059 4,744
593,481 507,899
CREDITORS
Amounts falling due within one year 6 (441,877 ) (337,067 )
NET CURRENT ASSETS 151,604 170,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,964

202,594

CREDITORS
Amounts falling due after more than one
year

7

(111,330

)

(141,365

)

PROVISIONS FOR LIABILITIES 10 (5,090 ) (6,035 )
NET ASSETS 55,544 55,194

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Share premium 12 24,750 24,750
Retained earnings 12 29,794 29,444
SHAREHOLDERS' FUNDS 55,544 55,194

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.

Novo CSV Limited (Registered number: 06573994)

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





Ms G L Shaw - Director


Novo CSV Limited (Registered number: 06573994)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Novo CSV 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

There are no material departures from the standard.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost and 20% on cost
Office equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Novo CSV Limited (Registered number: 06573994)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 22 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Office
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 37,287 52,442 27,394 117,123
Additions 133 1,692 2,184 4,009
Disposals (126 ) (3,823 ) (1,711 ) (5,660 )
At 31 December 2023 37,294 50,311 27,867 115,472
DEPRECIATION
At 1 January 2023 35,390 28,851 21,120 85,361
Charge for year 1,110 9,775 4,526 15,411
Eliminated on disposal (126 ) (3,823 ) (1,711 ) (5,660 )
At 31 December 2023 36,374 34,803 23,935 95,112
NET BOOK VALUE
At 31 December 2023 920 15,508 3,932 20,360
At 31 December 2022 1,897 23,591 6,274 31,762

Novo CSV Limited (Registered number: 06573994)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Office
equipment
£   
COST
At 1 January 2023
and 31 December 2023 13,327
DEPRECIATION
At 1 January 2023 8,692
Charge for year 3,241
At 31 December 2023 11,933
NET BOOK VALUE
At 31 December 2023 1,394
At 31 December 2022 4,635

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 106,677 67,431
Other debtors 381,618 407,981
488,295 475,412

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank overdraft 69,966 76,931
Hire purchase contracts (see note 8) 2,061 2,748
Trade creditors 93,649 75,796
Taxation and social security 182,614 125,896
Other creditors 93,587 55,696
441,877 337,067

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 111,330 139,304
Hire purchase contracts (see note 8) - 2,061
111,330 141,365

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 18,029 26,203

Novo CSV Limited (Registered number: 06573994)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 2,061 2,748
Between one and five years - 2,061
2,061 4,809

Non-cancellable operating leases
2023 2022
£    £   
Within one year 56,934 57,850
Between one and five years 204,553 210,987
In more than five years 88,375 138,875
349,862 407,712

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 39,232 46,197

Floating Charge over all assets of the company dated 25 March 2019.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 5,090 6,035

Deferred
tax
£   
Balance at 1 January 2023 6,035
Provided during year (945 )
Balance at 31 December 2023 5,090

Novo CSV Limited (Registered number: 06573994)

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 2023 2022
value: £    £   
950 Ordinary A 1 950 950
50 Ordinary B 1 50 50
1,000 1,000

12. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2023 29,444 24,750 54,194
Profit for the year 350 350
At 31 December 2023 29,794 24,750 54,544

13. OTHER FINANCIAL COMMITMENTS

As at 31 December 2023, there were outstanding pension contributions of £9,105 (2022 - £5,540).

14. RELATED PARTY DISCLOSURES

Directors

Included in other creditors is an amount owed to a director, G L Shaw, of £17,497 (2022 - £20,358). This loan is unsecured and no interest is charged. The amount due is repayable on demand but the director has given her assurance that the amount repayable will not be demanded until such time as the company can afford to do so without detriment to its operating and working capital needs.


Appliance Repairs and Spares Limited

A company of which a director of this company, C S Goodburn, is a director and controlling shareholder.

Included in other debtors is an amount owing by Appliance Repairs and Spares Limited of £nil (2022 - £7,569). The amount owing by Appliance Repairs and Spares Limited is unsecured and there are no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of Novo CSV Limited have given their assurance that the amount repayable will not be demanded until such time as Appliance Repairs and Spares Limited can afford to do so without detriment to its operating and working capital needs.


Gardentools4U Limited

A company of which a director of this company, Ms G L Shaw, is a director and shareholder.

Included in other debtors is an amount owing by Gardentools4U Limited of £56,550 (2022 - £56,800). The amount owing by Gardentools4U Limited is unsecured and there are no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of Novo CSV Limited have given their assurance that the amount repayable will not be demanded until such time as Gardentools4U Limited can afford to do so without detriment to its operating and working capital needs.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Novo CSV Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Novo CSV Limited for the year ended 31 December 2023 which comprise the Profit and loss account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Novo CSV Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Novo CSV Limited and state those matters that we have agreed to state to the Board of Directors of Novo CSV Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Novo CSV Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Novo CSV Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Novo CSV Limited. You consider that Novo CSV Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Novo CSV Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


26 September 2024