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Registration number: 12271599

Novus Properties Cheshire Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Novus Properties Cheshire Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Novus Properties Cheshire Ltd

(Registration number: 12271599)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

199,097

199,097

Current assets

 

Debtors

5

432

277

Cash at bank and in hand

 

7,061

4,744

 

7,493

5,021

Creditors: Amounts falling due within one year

6

(77,906)

(78,098)

Net current liabilities

 

(70,413)

(73,077)

Total assets less current liabilities

 

128,684

126,020

Creditors: Amounts falling due after more than one year

6

(108,206)

(114,686)

Net assets

 

20,478

11,334

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

20,477

11,333

Shareholders' funds

 

20,478

11,334

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Novus Properties Cheshire Ltd

(Registration number: 12271599)
Balance Sheet as at 31 October 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the director on 30 September 2024
 

.........................................
Mr S Goldrick
Director

 

Novus Properties Cheshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
England

The principal place of business is:
Unit 1 Hawksdrum House
Marshfield Bank Industrial Estate
Crewe
Cheshire
CW2 8UY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Novus Properties Cheshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Tax

The tax expense for the period comprises current tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 November

199,097

At 31 October

199,097

The Director does not believe that it was commercially viable to revalue the property at the balance sheet date and so the property is currently held on the Balance Sheet at cost.

5

Debtors

2023
£

2022
£

Amounts owed by group undertakings

432

-

Other debtors

-

277

432

277

 

Novus Properties Cheshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans

6,396

6,709

Trade creditors

 

120

600

Amounts owed to participating interests

3,800

3,200

Other creditors

 

67,590

67,589

 

77,906

78,098

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Bank loans

108,206

114,686

The bank loans are secured on the investment property by way of a fixed and floating charge.