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REGISTERED NUMBER: 09235475 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

NOVACOM LONDON LIMITED

NOVACOM LONDON LIMITED (REGISTERED NUMBER: 09235475)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NOVACOM LONDON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A E Williams
W R A Yates
T M Yates
S R Yates
R E G Yates





REGISTERED OFFICE: 16 High Street
Saffron Walden
Essex
CB10 1AX





REGISTERED NUMBER: 09235475 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ

NOVACOM LONDON LIMITED (REGISTERED NUMBER: 09235475)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,109 2,268

CURRENT ASSETS
Debtors 5 354,443 307,713
Cash at bank and in hand 625,072 435,067
979,515 742,780
CREDITORS
Amounts falling due within one year 6 247,896 296,458
NET CURRENT ASSETS 731,619 446,322
TOTAL ASSETS LESS CURRENT
LIABILITIES

732,728

448,590

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 732,628 448,490
732,728 448,590

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 2 July 2024 and were signed on its behalf by:




W R A Yates - Director



R E G Yates - Director


NOVACOM LONDON LIMITED (REGISTERED NUMBER: 09235475)

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


1. STATUTORY INFORMATION

Novacom London 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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services supplied, net of returns, discounts and value added taxes.

Revenue is recognised in the accounting period in which services are rendered.

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

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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 10 (2023 - 8 ) .

NOVACOM LONDON LIMITED (REGISTERED NUMBER: 09235475)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 5,034
Additions 749
At 31 March 2024 5,783
DEPRECIATION
At 1 April 2023 2,766
Charge for year 1,908
At 31 March 2024 4,674
NET BOOK VALUE
At 31 March 2024 1,109
At 31 March 2023 2,268

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 336,618 303,921
Amounts owed by group undertakings 14,662 -
Other debtors 3,163 3,792
354,443 307,713

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 18,908 22,758
Amounts owed to group undertakings - 87,557
Taxation and social security 210,325 166,739
Other creditors 18,663 19,404
247,896 296,458

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 16,000 9,601
Between one and five years 32,000 -
48,000 9,601

8. RELATED PARTY DISCLOSURES

The dividend declared to the parent company for the year ended 31 March 2024 is £320,000 (2023: £320,000).

The balance owing from the parent company, Novacom Group Limited as at 31 March 2024 is £14,662 (owing to the parent company in 2023: £87,557).This loan is interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking and controlling party is Novacom Group Limited whose registered office and principal place of business are the same as the company's registered office.