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REGISTERED NUMBER: 01334747 (England and Wales)















Director's Report and

Financial Statements for the Year Ended 31 December 2023

for

Novus Sealing Limited

Novus Sealing Limited (Registered number: 01334747)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Director's Report 2

Independent Auditors' Report 3

Statement of Comprehensive Income 6

Statement of Financial Position 7

Statement of Changes in Equity 8

Notes to the Financial Statements 9


Novus Sealing Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M N Horton


REGISTERED OFFICE: Scandinavia Mill
Hunsworth Lane
Cleckheaton
West Yorkshire
BD19 4LN


REGISTERED NUMBER: 01334747 (England and Wales)


SENIOR STATUTORY AUDITOR: Peter Smith FCA


INDEPENDENT AUDITORS: Constantin
Chartered Accountants and
Statutory Auditor
25 Hosier Lane
London
EC1A 9LQ


BANKERS: Lloyds TSB Bank plc
7th Floor
6/7 Park Row
Leeds
West Yorkshire
LS1 1NX

Novus Sealing Limited (Registered number: 01334747)

Director's Report
for the Year Ended 31 December 2023

The director presents his report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company during the year continued to be to hold assets and support the wider Flexitallic group.

DIRECTOR
M N Horton held office during the whole of the period from 1 January 2023 to the date of this report.

POLITICAL DONATION
No political donations were made in the current and previous periods.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Constantin, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M N Horton - Director


26 November 2024

Independent Auditors' Report to the Members of
Novus Sealing Limited

Report on the audit of the financial statements

Opinion
In our opinion the financial statements of Novus Sealing Limited (the 'company'):
- give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"; and
- have been prepared in accordance with the requirements of the Companies Act 2006.

We have audited the financial statements which comprise:
- the statement of comprehensive income;
- the statement of financial position;
- the statement of changes in equity; and
- the related notes 1 to 15 which include the statement of accounting policies.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report.

We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the Financial Reporting Council's (the 'FRC's') Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the

Independent Auditors' Report to the Members of
Novus Sealing Limited

directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the FRC's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

We considered the nature of the company's industry and its control environment, and reviewed the company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management and the director about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory frameworks that the company operates in, and identified the key laws and regulations that:
- had a direct effect on the determination of material amounts and disclosures in the financial statements. These included the UK Companies Act and tax legislation; and
- do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:
- reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- enquiring of management concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and
- reading minutes of meetings of those charged with governance.

Report on other legal and regulatory requirements

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors' report has been prepared in accordance with applicable legal requirements.


Independent Auditors' Report to the Members of
Novus Sealing Limited

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the directors' report.

Matters on which we are required to report by exception
Under the Companies Act 2006 we are required to report in respect of the following matters if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.

We have nothing to report in respect of these matters.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Peter Smith FCA (Senior Statutory Auditor)
For and on behalf of Constantin
Chartered Accountants and
Statutory Auditor
25 Hosier Lane
London
EC1A 9LQ

26 November 2024

Novus Sealing Limited (Registered number: 01334747)

Statement of Comprehensive
Income
for the Year Ended 31 December 2023

2023 2022
Notes £    £   

REVENUE 3 120,000 300,208

Administrative expenses (105,755 ) (189,513 )
OPERATING PROFIT 5 14,245 110,695

Interest receivable and similar income 6 267,205 195,851
281,450 306,546

Interest payable and similar expenses 7 (17,947 ) (14,373 )
PROFIT BEFORE TAXATION 263,503 292,173

Tax on profit 8 (3,221 ) 383
PROFIT FOR THE FINANCIAL YEAR 260,282 292,556

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

260,282

292,556

Novus Sealing Limited (Registered number: 01334747)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 9 56,419 62,483
Investments 10 303,655 303,655
360,074 366,138

CURRENT ASSETS
Debtors 11 7,504,402 7,237,307
Cash at bank 28,610 26,412
7,533,012 7,263,719
CREDITORS
Amounts falling due within one year 12 (341,105 ) (338,158 )
NET CURRENT ASSETS 7,191,907 6,925,561
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,551,981

7,291,699

CAPITAL AND RESERVES
Called up share capital 14 5,000 5,000
Retained earnings 7,546,981 7,286,699
SHAREHOLDERS' FUNDS 7,551,981 7,291,699

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 26 November 2024 and were signed by:





M N Horton - Director


Novus Sealing Limited (Registered number: 01334747)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 5,000 6,994,143 6,999,143

Changes in equity
Total comprehensive income - 292,556 292,556
Balance at 31 December 2022 5,000 7,286,699 7,291,699

Changes in equity
Total comprehensive income - 260,282 260,282
Balance at 31 December 2023 5,000 7,546,981 7,551,981

Novus Sealing Limited (Registered number: 01334747)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Novus Sealing 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 principal activity of the company during the year continued to be to hold assets and support the wider Flexitallic group.

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.

Going concern
The directors, having considered the current trading prospects, identifiable risks, working capital requirements and the availability of finance are of the opinion that the company is a going concern. The directors took into account the impact of Brexit and the Russian Ukrainian conflict in making their assessment of the going concern. The accounts have been prepared on this basis.

Functional currency
The financial statements are prepared in sterling, which is the functional currency of the entity.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

- the requirements of Section 7 Statement of Cash Flows.
- the requirement of Section 33 Related Party Disclosures paragraph 33.7.

Preparation of consolidated financial statements
The company is itself a subsidiary company and is exempt from the requirement to prepare group financial statements by virtue of section 401 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group.

Novus Sealing Limited (Registered number: 01334747)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements in applying the Company’s accounting policies
There are no other critical judgements except for those related to estimation uncertainty which are detailed below.

Key source of estimation uncertainty - impairment of investments
The company has a significant investment in a subsidiary undertaking (see note 10), which requires assessment against potential impairment of carrying value of such investment arising from changes in circumstances affecting the subsidiary undertakings.

Each year, management ensures that the carrying amount of the investments in subsidiaries does not exceed the recoverable amount. The impairment test methods implemented by management involve significant assumptions, notably concerning future cash-flow forecasts and discount rates applied to estimated cash flows.

When an impairment review is performed, the recoverable amount is based on the value in use method. This value in use method requires the company to apply assumptions in performing its assessment of future cash flows relating to the subsidiary entity. Key assumptions used include the following:

- Subsidiary entity budgets for year 1 and plans for subsequent 4 years
- Long term growth and profitability levels for the subsidiary entity
- Discount rate used to discount the future cash flows to a present value

In establishing estimates for these assumptions, the company uses the detailed plans and budgets of the subsidiary undertakings and its own business experience.

The impairment review undertaken for 31 December 2023 confirms no impairment is required to be recognised in these financial statements.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Property, plant and equipment are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold property- 25 years
Plant and machinery- 3 - 15 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less provision for impairment.


Novus Sealing Limited (Registered number: 01334747)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or subsequently enacted by the statement of financial position date.

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the statement of financial position date.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

3. REVENUE

The revenue and profit before taxation are attributable to the one principal activity of the company.

Revenue is generated wholly in the United Kingdom.

Novus Sealing Limited (Registered number: 01334747)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. EMPLOYEES AND DIRECTORS

The company has no employees other than the directors, who did not receive any remuneration for services to
the company (2022 - £nil).

5. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Other operating leases - 82,149
Depreciation - owned assets 6,064 24,606

AUDITORS' REMUNERATION

The audit fee for the year ended 31 December 2023 and year ended 31 December 2022 was borne by another group company £5,000 (2022 - £3,500).

6. INTEREST RECEIVABLE AND SIMILAR INCOME
2023 2022
£    £   
Interest receivable from group companies 267,205 195,851

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Interest payable to group companies 17,947 13,914
Corporation tax interest - 459
17,947 14,373

8. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2023 2022
£    £   
Deferred tax:
Origination and reversal of timing differences 3,030 (291 )
Change in rate 191 (92 )
Total deferred tax 3,221 (383 )
Tax on profit 3,221 (383 )

Novus Sealing Limited (Registered number: 01334747)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. TAXATION - continued

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 263,503 292,173
Profit multiplied by the standard rate of corporation tax in the UK of
23.520% (2022 - 19%)

61,976

55,513

Effects of:
Income not taxable for tax purposes (38,756 ) (17,751 )
Effects of group relief (20,190 ) (38,053 )
Tax rate changes 191 (92 )
Total tax charge/(credit) 3,221 (383 )

Factors That May Affect Future Tax Charges
Finance Act 2021, which was substantively enacted on 24 May 2021, has enacted an increase in the UK corporation tax main rate to 25% from 1 April 2023.

As this rate change had been substantively enacted before the balance sheet date, the closing deferred tax assets and liabilities have been calculated at 25%, on the basis that this is the rate at which those assets and liabilities are expected to unwind.

9. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 149,046 4,199,895 4,348,941
DEPRECIATION
At 1 January 2023 86,663 4,199,795 4,286,458
Charge for year 5,964 100 6,064
At 31 December 2023 92,627 4,199,895 4,292,522
NET BOOK VALUE
At 31 December 2023 56,419 - 56,419
At 31 December 2022 62,383 100 62,483

Novus Sealing Limited (Registered number: 01334747)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 303,655
NET BOOK VALUE
At 31 December 2023 303,655
At 31 December 2022 303,655

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Flexitallic LLC
Registered office: P.O.Box 6591, Al Jazeera, Plot 108, Road E, Al Hamra Industrial Area, Ras Al Khaimah, United Arab Emirates
Nature of business: Production of high pressure seals & gaskets
%
Class of shares: holding
Ordinary 100.00

The directors believe that the carrying value of the investments is supported by their underlying net assets. The investment listed above is directly owned.

11. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 3,107,095 3,004,667
Deferred tax asset
Accelerated capital allowances 8,066 11,287
Prepayments and accrued income 17,212 14,101
3,132,373 3,030,055

Amounts falling due after more than one year:
Amounts owed by group undertakings 4,372,029 4,207,252

Aggregate amounts 7,504,402 7,237,307

£3,107,095 and £4,372,029 (2022 - £3,004,667 and £4,207,252) of amounts owed by group undertakings are interest bearing at 4.5% and SONIA, respectively. Included in above are financial assets held at amortised cost amounting to £7,479,124 (2022 - £7,211,919).

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 341,105 338,158

Novus Sealing Limited (Registered number: 01334747)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Amounts owed to group undertakings are interest bearing at LIBOR plus 1%, unsecured and repayable on demand. Included in above are financial liabilities held at amortised cost amounting to £341,105 (2022 - £338,158).

13. DEFERRED TAX
£   
Balance at 1 January 2023 (11,287 )
Charge to Income Statement during year 3,221
Balance at 31 December 2023 (8,066 )

The above relates to accelerated capital allowances.

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary £1 5,000 5,000

All shares rank pari passu, in all respects.

15. ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking and controlling party is Novus Holdings Limited, a company incorporated in England and Wales and owning all the shares.

The company's ultimate parent undertaking and controlling party is Bridgepoint.

Flexitallic S.à.r.l. is the parent undertaking of the smallest and largest group of undertakings to consolidate these financial statements at 31 December 2023. The consolidated financial statements of Flexitallic S.à.r.l. are available from 6B, rue du Fort Niedergrünewald, L-2226 Luxembourg, Grand Duchy of Luxembourg R.C.S.Luxembourg B 267.508.