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REGISTERED NUMBER: 08047283 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

NOLA (HOVE) LIMITED

NOLA (HOVE) LIMITED (REGISTERED NUMBER: 08047283)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NOLA (HOVE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: M Asgarpour





SECRETARY: Advanta Corporate Services Limited





REGISTERED OFFICE: 29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU





REGISTERED NUMBER: 08047283 (England and Wales)





ACCOUNTANTS: Advanta
Chartered Accountants
29 Gildredge Road
Eastbourne
East Sussex
BN21 4RU

NOLA (HOVE) LIMITED (REGISTERED NUMBER: 08047283)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 2,981

CURRENT ASSETS
Stocks 5 - 800
Debtors 6 4,868 8,601
Cash at bank 9 4,152
4,877 13,553
CREDITORS
Amounts falling due within one year 7 15,859 9,869
NET CURRENT (LIABILITIES)/ASSETS (10,982 ) 3,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,982

)

6,665

CREDITORS
Amounts falling due after more than one
year

8

-

(5,417

)

PROVISIONS FOR LIABILITIES 10 - (566 )
NET (LIABILITIES)/ASSETS (10,982 ) 682

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (11,082 ) 582
SHAREHOLDERS' FUNDS (10,982 ) 682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 January 2025 and were signed by:




M Asgarpour - Director


NOLA (HOVE) LIMITED (REGISTERED NUMBER: 08047283)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Nola (Hove) 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
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.

These financial statements have been prepared on the basis that the company is not a going concern. Adjustments have been 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.

Turnover
Turnover represents income received for the sale and service of food and drink and is recognised at the date of receipt.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 10% on reducing balance
Furniture,fittings & equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

NOLA (HOVE) LIMITED (REGISTERED NUMBER: 08047283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS
Plant & Furniture,fittings
machinery & equipment Totals
£    £    £   
COST
At 1 May 2023 5,000 6,919 11,919
Disposals (5,000 ) (6,919 ) (11,919 )
At 30 April 2024 - - -
DEPRECIATION
At 1 May 2023 3,431 5,507 8,938
Eliminated on disposal (3,431 ) (5,507 ) (8,938 )
At 30 April 2024 - - -
NET BOOK VALUE
At 30 April 2024 - - -
At 30 April 2023 1,569 1,412 2,981

5. STOCKS
2024 2023
£    £   
Stocks - 800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 975
Directors' current accounts 3,640 1,673
Tax 1,228 2,510
Prepayments - 3,443
4,868 8,601

The directors' current account is repayable on demand but not expected to be repaid within 12 months of the balance sheet date.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,417 2,600
Trade creditors 482 275
Tax 664 2,747
PAYE 7 145
Other creditors 6,402 918
Accrued expenses 2,887 3,184
15,859 9,869

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 2,600
Bank loans - 2-5 years - 2,817
- 5,417

NOLA (HOVE) LIMITED (REGISTERED NUMBER: 08047283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 19,500
Between one and five years - 78,000
- 97,500

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 566

Deferred
tax
£   
Balance at 1 May 2023 566
Credit to Income Statement during year (566 )
Balance at 30 April 2024 -

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
M Asgarpour
Balance outstanding at start of year 1,673 7,647
Amounts advanced 1,967 -
Amounts repaid - (5,974 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,640 1,673

This is repayable on demand but not expected to be repaid within 12 months of the balance sheet date.

Interest of £nil (2023 : £182) was charged at the HMRC official rate.

12. RELATED PARTY DISCLOSURES

At the balance sheet date £3,640 was owed by the company director. The loan is unsecured, repayable on demand and interest free