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REGISTERED NUMBER: 12121725 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Novus Logistics Ltd

Novus Logistics Ltd (Registered number: 12121725)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Novus Logistics Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S C Curt
D M White





REGISTERED OFFICE: 5 Sketty Close
Brackmills
Northampton
NN4 7PL





REGISTERED NUMBER: 12121725 (England and Wales)





ACCOUNTANTS: Harris & Co
Chartered Accountants
2 Pavilion Court
600 Pavilion Drive
Northampton
NN4 7SL

Novus Logistics Ltd (Registered number: 12121725)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 242,277 294,015

CURRENT ASSETS
Stocks 1,363,999 1,088,817
Debtors 5 2,067,847 1,396,386
Cash at bank 551,938 809,793
3,983,784 3,294,996
CREDITORS
Amounts falling due within one year 6 2,043,913 1,632,014
NET CURRENT ASSETS 1,939,871 1,662,982
TOTAL ASSETS LESS CURRENT LIABILITIES 2,182,148 1,956,997

CREDITORS
Amounts falling due after more than one year 7 (66,066 ) (88,454 )

PROVISIONS FOR LIABILITIES (50,172 ) -
NET ASSETS 2,065,910 1,868,543

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,065,810 1,868,443
2,065,910 1,868,543

Novus Logistics Ltd (Registered number: 12121725)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 29 October 2024 and were signed on its behalf by:





D M White - Director


Novus Logistics Ltd (Registered number: 12121725)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Novus Logistics Ltd 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.

Turnover
Turnover represents the total invoice value, excluding value added tax and trade discounts, of sales made during the year and derives from the provision of services falling within the company's ordinary activities. Turnover is recognised when the service is provided to the customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% 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 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.

Novus Logistics Ltd (Registered number: 12121725)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
FRS102 requires transactions in foreign currencies to be translated into sterling at the rate of exchange ruling at the date of transaction. The company has chosen to depart from the treatment required under FRS102 in this respect. This is because the company has a contract in which exchange rates for both sales and purchases are fixed. The spot rate has no relevance to the company's transactions and so transactions are initially recorded at the contracted rate. When transactions are settled at a later date, the difference between the contracted rate and the settlement rate is treated as an exchange rate difference. The directors believe that this accounting treatment gives a more true and fair reflection of the impact of foreign currency movements on the company's results.

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 17 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 378,531
Additions 14,180
At 31 March 2024 392,711
DEPRECIATION
At 1 April 2023 84,516
Charge for year 65,918
At 31 March 2024 150,434
NET BOOK VALUE
At 31 March 2024 242,277
At 31 March 2023 294,015

Novus Logistics Ltd (Registered number: 12121725)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,004,250 1,388,761
Other debtors 63,597 7,625
2,067,847 1,396,386

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 22,388 22,388
Trade creditors 1,450,921 852,464
Taxation and social security 105,069 132,945
Other creditors 465,535 624,217
2,043,913 1,632,014

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 66,066 88,454

8. CONTINGENT LIABILITIES

The company's bankers have provided a guarantee for £100,000 to HM Revenue & Customs in the event that the customers do not pay the VAT and duty on any imports. Under the terms of the guarantee, the bank have recourse to the company.

The company has arranged a £5m deposit from a specialist funder to assist with forward purchasing of foreign exchange. The agreement is in place until 30 April 2031 but does not involve the company borrowing funds from the financier. However, in certain circumstances the company would be liable to the financier for any amounts borrowed under the facility.

The company also forward purchases foreign currencies to limit its exposure to foreign exchange rate fluctuations.