Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseThe principal activity of the company was that of a holding company.22023-01-01false2truetrue 05421341 2023-01-01 2023-12-31 05421341 2022-01-01 2022-12-31 05421341 2023-12-31 05421341 2022-12-31 05421341 c:Director4 2023-01-01 2023-12-31 05421341 d:CurrentFinancialInstruments 2023-12-31 05421341 d:CurrentFinancialInstruments 2022-12-31 05421341 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05421341 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05421341 d:ShareCapital 2023-12-31 05421341 d:ShareCapital 2022-12-31 05421341 d:RetainedEarningsAccumulatedLosses 2023-12-31 05421341 d:RetainedEarningsAccumulatedLosses 2022-12-31 05421341 c:FRS102 2023-01-01 2023-12-31 05421341 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05421341 c:FullAccounts 2023-01-01 2023-12-31 05421341 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05421341 6 2023-01-01 2023-12-31 05421341 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 05421341










NOVARLEX








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NOVARLEX
REGISTERED NUMBER: 05421341

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1,608,110
1,940,684

  
1,608,110
1,940,684

  

Creditors: amounts falling due within one year
 5 
(4,575,766)
(4,889,818)

Net current liabilities
  
 
 
(4,575,766)
 
 
(4,889,818)

Total assets less current liabilities
  
(2,967,656)
(2,949,134)

  

Net liabilities
  
(2,967,656)
(2,949,134)


Capital and reserves
  

Called up share capital 
  
1,357
1,357

Profit and loss account
  
(2,969,013)
(2,950,491)

  
(2,967,656)
(2,949,134)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 December 2024.




Xavier Frendo
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
NOVARLEX
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Novarlex Limited is a private company limited by share capital, incorporated in England and Wales, registration number 05421341. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis as the shareholder has confirmed his intention to provide continued financial support.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 2

 
NOVARLEX
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Fixed asset investments





Investments in subsidiary companies
Loans to subsidiaries
Total

£
£
£



Cost or valuation


At 1 January 2023
4,483,801
317,532
4,801,333


Disposals
-
(317,532)
(317,532)



At 31 December 2023

4,483,801
-
4,483,801



Impairment


At 1 January 2023
2,860,649
-
2,860,649


Charge for the period
15,042
-
15,042



At 31 December 2023

2,875,691
-
2,875,691



Net book value



At 31 December 2023
1,608,110
-
1,608,110



At 31 December 2022
1,623,152
317,532
1,940,684


5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
4,568,806
4,886,338

Accruals and deferred income
6,960
3,480

4,575,766
4,889,818



6.


Related party transactions

At the balance sheet date, shareholder loan was €4,568,806 (2022: €4,886,338). Loan is interest free and repayable on demand.

 
Page 3