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REGISTERED NUMBER: 10119007 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Novacoast Limited

Novacoast Limited (Registered number: 10119007)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Novacoast Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P A Anderson
A Gray
J N Newlon Hurney
Novacoast Holding
Novacoast, Inc.
W Laughlin





SECRETARY: Casered Ltd





REGISTERED OFFICE: Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB





REGISTERED NUMBER: 10119007 (England and Wales)





AUDITORS: Bennett Kirkhope Smith Ltd
Chartered Certified Accountants
and Statutory Auditors
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

Novacoast Limited (Registered number: 10119007)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 217,271 20,652

CURRENT ASSETS
Debtors 5 1,314,371 838,803
Cash at bank 35,401 526,143
1,349,772 1,364,946
CREDITORS
Amounts falling due within one year 6 871,361 902,130
NET CURRENT ASSETS 478,411 462,816
TOTAL ASSETS LESS CURRENT
LIABILITIES

695,682

483,468

PROVISIONS FOR LIABILITIES (38,476 ) -

ACCRUALS AND DEFERRED INCOME (515,685 ) (338,916 )
NET ASSETS 141,521 144,552

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 141,520 144,551
141,521 144,552

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2025 and were signed on its behalf by:





W Laughlin - Director


Novacoast Limited (Registered number: 10119007)

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


1. STATUTORY INFORMATION

Novacoast 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The directors have at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The holding company has pledged it's financial support if necessary.

Going Concern
The view of the directors is that the Company has been able to continue its trading activities and with support of the parent has sufficient resources available to meet its liabilities as they fall due.

In reaching this conclusion, the directors have considered the financial position of both the Company and the group, Novacoast Inc, at the date of the approval of the financial statements.

The support of the parent company for at least the next 12 months has been confirmed in writing and the directors therefore continue to adopt the going concern basis in preparing the financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the term of the lease
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Novacoast Limited (Registered number: 10119007)

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


2. ACCOUNTING POLICIES - continued

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 42 (2022 - 38 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 - 19,465 84,180 103,645
Additions 184,473 13,438 24,262 222,173
At 31 December 2023 184,473 32,903 108,442 325,818
DEPRECIATION
At 1 January 2023 - 17,442 65,551 82,993
Charge for year 10,762 1,465 13,327 25,554
At 31 December 2023 10,762 18,907 78,878 108,547
NET BOOK VALUE
At 31 December 2023 173,711 13,996 29,564 217,271
At 31 December 2022 - 2,023 18,629 20,652

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 503,111 474,590
Amounts owed by group undertakings 633,238 195,075
Other debtors 20,869 -
VAT 34,467 43,220
Prepayments 122,686 125,918
1,314,371 838,803

Novacoast Limited (Registered number: 10119007)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 486,734 545,334
Corporation tax 6,227 24,752
Social security and other taxes 86,430 122,279
Accrued expenses 291,970 209,765
871,361 902,130

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alice Mary Smith (Senior Statutory Auditor)
for and on behalf of Bennett Kirkhope Smith Ltd

8. OTHER FINANCIAL COMMITMENTS

At 31 December 2022 the company had total commitments under non-cancellable operating leases over the life of those leases of £1,840,608 (2022 - £73,536).

9. ULTIMATE PARENT UNDERTAKING

The directors consider the ultimate parent company to be Novacoast Holding.The registered office is 301 North Main Street, Suite 2100, Wichita, KS 6702, United States. There is no ultimate controlling party .