Registered number
09095084
NOVANTE LIMITED
Filleted Accounts
30 June 2024
NOVANTE LIMITED
Registered number: 09095084
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 316 471
Current assets
Debtors 5 25,940 25,847
Cash at bank and in hand 387 413
26,327 26,260
Creditors: amounts falling due within one year 6 (71,976) (71,434)
Net current liabilities (45,649) (45,174)
Net liabilities (45,333) (44,703)
Capital and reserves
Called up share capital 240,000 240,000
Profit and loss account (285,333) (284,703)
Shareholders' funds (45,333) (44,703)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Going concern
The accounts have been prepared on a going concern basis which assumes the continued support of the company’s creditors. Should this support be withdrawn and not replaced by alternative finance, the company would be unable to continue trading. Adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jacques Van Hee
Director
Approved by the board on 8 November 2024
NOVANTE LIMITED
Notes to the Accounts
for the year ended 30 June 2024
2 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
4 Tangible fixed assets
Motor vehicles
£
Cost
At 1 July 2023 2,107
At 30 June 2024 2,107
Depreciation
At 1 July 2023 1,636
Charge for the year 155
At 30 June 2024 1,791
Net book value
At 30 June 2024 316
At 30 June 2023 471
5 Debtors 2024 2023
£ £
Deferred tax asset 11,928 11,925
VAT Receivable 14,012 13,922
25,940 25,847
6 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 795 800
Company Credit Card - 787
Director's current account 71,181 -
Other creditors - 69,847
71,976 71,434
7 Other information
NOVANTE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Carlyle House Lower Ground Floor,
235-237 Vauxhall Bridge Road,
London,
England,
SW1V 1EJ
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