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Registered number: 13362897
Novum Medtech Limited
Financial Statements
For The Year Ended 30 September 2023
Fruition Accountancy Limited
Unit 4 Three Spires House, Station Road
Lichfield
WS13 6HX
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13362897
30 September 2023 30 September 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 230,254 2,286
Investments 4 100 100
230,354 2,386
CURRENT ASSETS
Stocks 5 28,320 49,191
Debtors 6 12,300 53,963
Cash at bank and in hand 228 3,635
40,848 106,789
Creditors: Amounts Falling Due Within One Year 7 (215,974 ) (196,469 )
NET CURRENT ASSETS (LIABILITIES) (175,126 ) (89,680 )
TOTAL ASSETS LESS CURRENT LIABILITIES 55,228 (87,294 )
Creditors: Amounts Falling Due After More Than One Year 8 (194,031 ) -
NET LIABILITIES (138,803 ) (87,294 )
CAPITAL AND RESERVES
Called up share capital 9 125 100
Share premium account 199,975 -
Profit and Loss Account (338,903 ) (87,394 )
SHAREHOLDERS' FUNDS (138,803) (87,294)
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For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robin Bartram Brown
Director
20th November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.  The company continues to be supported by it's shareholders and directors.
1.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10 years
1.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 4 (2022: NIL)
4 -
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3. Tangible Assets
Plant & Machinery
£
Cost
As at 1 October 2022 2,331
Additions 240,367
As at 30 September 2023 242,698
Depreciation
As at 1 October 2022 45
Provided during the period 12,399
As at 30 September 2023 12,444
Net Book Value
As at 30 September 2023 230,254
As at 1 October 2022 2,286
4. Investments
Unlisted
£
Cost
As at 1 October 2022 100
As at 30 September 2023 100
Provision
As at 1 October 2022 -
As at 30 September 2023 -
Net Book Value
As at 30 September 2023 100
As at 1 October 2022 100
Investments relate to shares held in Glovesafe Limited, a subsidiary company. At the balance sheet date the company held 100% of the voting rights and shares.
5. Stocks
30 September 2023 30 September 2022
£ £
Stock - materials 28,320 49,191
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6. Debtors
30 September 2023 30 September 2022
£ £
Due within one year
Trade debtors 12,250 4,419
Amounts owed by participating interests - 9,726
Other debtors 50 39,818
12,300 53,963
7. Creditors: Amounts Falling Due Within One Year
30 September 2023 30 September 2022
£ £
Trade creditors 11,207 13,540
Bank loans and overdrafts 17 2,922
Amounts owed to participating interests 155,794 911
Other creditors 29,619 177,200
Taxation and social security 19,337 1,896
215,974 196,469
8. Creditors: Amounts Falling Due After More Than One Year
30 September 2023 30 September 2022
£ £
Amounts owed to associates 194,031 -
194,031 -
9. Share Capital
30 September 2023 30 September 2022
£ £
Allotted, Called up and fully paid 125 100
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Value Number 30 September 2023 30 September 2022
Allotted, called up and fully paid £ £ £
Ordinary Shares 0.001 25,000 25 25
Ordinary A shares 0.001 25,000 25 25
Ordinary B shares 0.001 25,000 25 25
Ordinary C shares 0.001 25,000 25 25
Preference Shares 0.001 25,000 25 -
125,000 125 100
Nominal value Number Amount
Shares issued during the period: £ £
Preference Shares 0.001 25,000 25
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 October 2022 Amounts advanced Amounts repaid Amounts written off As at 30 September 2023
£ £ £ £ £
Mr Robin Bartram Brown 770 - 770 - -
Mr Matthew Griffin 25 - - - 25
Mr Zhengjie Wang 25 - 25 - -
The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
At the balance sheet date the company owed related companies £340,244 (2022: £911) and was owed £nil (2022: £9,726) by other related companies.
At the balance sheet date the company owed £15,039 (2022: £nil) to the directors of the company.
12. General Information
Novum Medtech Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13362897 . The registered office is Unit 18, Meadowcroft Way, Leigh, WN7 3XZ. The accounts for the previous period were a 17 month period from 28 April 2021 to 30 September 2022. 
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