Acorah Software Products - Accounts Production 16.0.110 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 13421660 Mr Steven Smith Mr David Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13421660 2023-05-31 13421660 2024-05-31 13421660 2023-06-01 2024-05-31 13421660 frs-core:CurrentFinancialInstruments 2024-05-31 13421660 frs-core:Non-currentFinancialInstruments 2024-05-31 13421660 frs-core:FurnitureFittings 2023-06-01 2024-05-31 13421660 frs-core:ShareCapital 2024-05-31 13421660 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 13421660 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13421660 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 13421660 frs-bus:SmallEntities 2023-06-01 2024-05-31 13421660 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 13421660 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13421660 frs-bus:Director1 2023-06-01 2024-05-31 13421660 frs-bus:Director2 2023-06-01 2024-05-31 13421660 frs-countries:EnglandWales 2023-06-01 2024-05-31 13421660 2022-05-31 13421660 2023-05-31 13421660 2022-06-01 2023-05-31 13421660 frs-core:CurrentFinancialInstruments 2023-05-31 13421660 frs-core:Non-currentFinancialInstruments 2023-05-31 13421660 frs-core:ShareCapital 2023-05-31 13421660 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 13421660
Nova Satus Projects Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Tony R Pomfret & Associates
37a High Street
Hoddesdon
EN11 8TA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13421660
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 497,036 410,801
497,036 410,801
CURRENT ASSETS
Debtors 5 1,455 1,085
Cash at bank and in hand 26,309 24,832
27,764 25,917
Creditors: Amounts Falling Due Within One Year 6 (240,999 ) (164,001 )
NET CURRENT ASSETS (LIABILITIES) (213,235 ) (138,084 )
TOTAL ASSETS LESS CURRENT LIABILITIES 283,801 272,717
Creditors: Amounts Falling Due After More Than One Year 7 (286,444 ) (286,430 )
NET LIABILITIES (2,643 ) (13,713 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (2,645 ) (13,715 )
SHAREHOLDERS' FUNDS (2,643) (13,713)
Page 1
Page 2
For the year ending 31 May 2024 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 Steven Smith
Director
14/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Nova Satus Projects Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13421660 . The registered office is 37a High Street, Hoddesdon, Herts, EN11 8TA.
2. Accounting Policies
2.1. 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.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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:
Fixtures & Fittings 12.5% Straight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 June 2023 410,801
Additions 86,235
As at 31 May 2024 497,036
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 357 -
Other debtors 1,098 1,085
1,455 1,085
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10,208 10,208
Other creditors 230,791 153,793
240,999 164,001
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 286,444 286,430
8. Secured Creditors
Of the creditors the following amounts are secured by way of fixed charges secured on the two freehold properties owned by the company.
2024 2023
£ £
Bank loans and overdrafts 296,652 296,638
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
Directors Loan Accounts

Directors Loan Accounts

At the balance sheet date, the company owed £108,836 (£72,349 2023) to Mr S Smith, who is a director and shareholder of the company. At the balance sheet date, the company owed £109,547 (£71,845 2023)to Mr D Smith, who is a director and shareholder of the company. 
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