Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31false2023-08-01falseNo description of principal activity33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10637207 2023-08-01 2024-07-31 10637207 2022-08-01 2023-07-31 10637207 2024-07-31 10637207 2023-07-31 10637207 c:Director1 2023-08-01 2024-07-31 10637207 c:Director2 2023-08-01 2024-07-31 10637207 c:Director3 2023-08-01 2024-07-31 10637207 c:RegisteredOffice 2023-08-01 2024-07-31 10637207 d:PlantMachinery 2023-08-01 2024-07-31 10637207 d:PlantMachinery 2024-07-31 10637207 d:PlantMachinery 2023-07-31 10637207 d:OfficeEquipment 2023-08-01 2024-07-31 10637207 d:OfficeEquipment 2024-07-31 10637207 d:OfficeEquipment 2023-07-31 10637207 d:PatentsTrademarksLicencesConcessionsSimilar 2024-07-31 10637207 d:PatentsTrademarksLicencesConcessionsSimilar 2023-07-31 10637207 d:Goodwill 2023-08-01 2024-07-31 10637207 d:Goodwill 2024-07-31 10637207 d:Goodwill 2023-07-31 10637207 d:CurrentFinancialInstruments 2024-07-31 10637207 d:CurrentFinancialInstruments 2023-07-31 10637207 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 10637207 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 10637207 d:ShareCapital 2024-07-31 10637207 d:ShareCapital 2023-07-31 10637207 d:RetainedEarningsAccumulatedLosses 2024-07-31 10637207 d:RetainedEarningsAccumulatedLosses 2023-07-31 10637207 c:FRS102 2023-08-01 2024-07-31 10637207 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 10637207 c:FullAccounts 2023-08-01 2024-07-31 10637207 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10637207 6 2023-08-01 2024-07-31 10637207 d:Goodwill d:OwnedIntangibleAssets 2023-08-01 2024-07-31 10637207 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-08-01 2024-07-31 10637207 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
Company registration number: 10637207







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024


NOVA BUILD GROUP LIMITED (FORMERLY KNOWN AS HOUGHTON BUILD GROUP LIMITED)






































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NOVA BUILD GROUP LIMITED (FORMERLY KNOWN AS HOUGHTON BUILD GROUP LIMITED)
 


 
COMPANY INFORMATION


Directors
Mr G C Benge 
Mr R I Powell 
Mr T Wood 




Registered number
10637207



Registered office
Southbrook House
Brook Street

Bishops Waltham

Southampton

SO32 1AX




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


NOVA BUILD GROUP LIMITED (FORMERLY KNOWN AS HOUGHTON BUILD GROUP LIMITED)
REGISTERED NUMBER:10637207



STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
78,541
107,541

Tangible assets
  
435,369
-

Investments
 6 
4
4

  
513,914
107,545

Current assets
  

Debtors: amounts falling due within one year
 7 
4,152,622
4,278,402

Cash at bank and in hand
  
3
282

  
4,152,625
4,278,684

Creditors: amounts falling due within one year
 8 
(4,900,148)
(4,120,590)

Net current (liabilities)/assets
  
 
 
(747,523)
 
 
158,094

Total assets less current liabilities
  
(233,609)
265,639

  

Net (liabilities)/assets
  
(233,609)
265,639

Page 1

 


NOVA BUILD GROUP LIMITED (FORMERLY KNOWN AS HOUGHTON BUILD GROUP LIMITED)
REGISTERED NUMBER:10637207


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
980,048
980,048

Profit and loss account
  
(1,213,657)
(714,409)

  
(233,609)
265,639


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Mr T Wood
Director

Date: 25 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


NOVA BUILD GROUP LIMITED (FORMERLY KNOWN AS HOUGHTON BUILD GROUP LIMITED)
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Houghton Build Group Limited is a private company limited by shares, registered in England and Wales. The address of its registered office, which is the same as its principal place of business, is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the year end date, the company’s liabilities exceed its assets. As a result, the company is reliant on the continued financial support provided to it by a director and participator in the company, and by a company under the control of this same director and participator.
 
In their capacity as a director of the company under common control, and their own capacity, the director has confirmed that amounts due to them, and the entity they control, will not be recalled in the foreseeable future.
 
As a result of this confirmation, and the assessment that for the foreseeable future the company can settle other liabilities as they fall due, the directors consider it appropriate to continue to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 


NOVA BUILD GROUP LIMITED (FORMERLY KNOWN AS HOUGHTON BUILD GROUP LIMITED)
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
reducing balance
Office equipment
-
10%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 


NOVA BUILD GROUP LIMITED (FORMERLY KNOWN AS HOUGHTON BUILD GROUP LIMITED)
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market
Page 5

 


NOVA BUILD GROUP LIMITED (FORMERLY KNOWN AS HOUGHTON BUILD GROUP LIMITED)
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 


NOVA BUILD GROUP LIMITED (FORMERLY KNOWN AS HOUGHTON BUILD GROUP LIMITED)
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Intangible assets




Patents
Goodwill
Total

£
£
£



Cost


At 1 August 2023
5,000
285,000
290,000



At 31 July 2024

5,000
285,000
290,000



Amortisation


At 1 August 2023
3,146
179,313
182,459


Charge for the year on owned assets
500
28,500
29,000



At 31 July 2024

3,646
207,813
211,459



Net book value



At 31 July 2024
1,354
77,187
78,541



At 31 July 2023
1,854
105,687
107,541




5.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


Additions
430,063
5,306
435,369



At 31 July 2024

430,063
5,306
435,369






Net book value



At 31 July 2024
430,063
5,306
435,369



At 31 July 2023
-
-
-

Page 7

 


NOVA BUILD GROUP LIMITED (FORMERLY KNOWN AS HOUGHTON BUILD GROUP LIMITED)
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2023
4



At 31 July 2024
4





7.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
4,062,134
4,274,932

Other debtors
88,811
3,470

Prepayments and accrued income
1,677
-

4,152,622
4,278,402



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
2
2

Other creditors
4,566,823
3,951,004

Accruals and deferred income
333,323
169,584

4,900,148
4,120,590



9.


Related party transactions

Included within the creditors due within one year are amounts due to the director amounting to £1,422,784 (2023 - £1,121,928).

 
Page 8