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Registered number: 11305883
Novel Pubs Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
TaxAssist Accountants
64 Southwark Bridge Road
London
SE1 0AS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11305883
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 195,361 68,261
195,361 68,261
CURRENT ASSETS
Stocks 5 57,010 46,600
Debtors 6 54,014 68,024
Cash at bank and in hand 72,102 44,115
183,126 158,739
Creditors: Amounts Falling Due Within One Year 7 (411,077 ) (307,922 )
NET CURRENT ASSETS (LIABILITIES) (227,951 ) (149,183 )
TOTAL ASSETS LESS CURRENT LIABILITIES (32,590 ) (80,922 )
NET LIABILITIES (32,590 ) (80,922 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (32,690 ) (81,022 )
SHAREHOLDERS' FUNDS (32,590) (80,922)
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Calum McKinnon
Director
21 January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Novel Pubs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11305883 . The registered office is 64 Southwark Bridge Road, London, SE1 0AS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold over the term of the lease
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:  24 (2023: 19)
24 19
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 32,392 85,380 10,042 127,814
Additions 87,263 70,725 3,944 161,932
As at 30 April 2024 119,655 156,105 13,986 289,746
...CONTINUED
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Page 4
Depreciation
As at 1 May 2023 4,862 49,014 5,677 59,553
Provided during the period 5,982 26,773 2,077 34,832
As at 30 April 2024 10,844 75,787 7,754 94,385
Net Book Value
As at 30 April 2024 108,811 80,318 6,232 195,361
As at 1 May 2023 27,530 36,366 4,365 68,261
5. Stocks
2024 2023
£ £
Finished goods 57,010 46,600
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 54,014 68,024
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 382,076 275,130
Taxation and social security 29,001 32,792
411,077 307,922
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4