NOVA WEALTH LTD

Company Registration Number:
10739796 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

NOVA WEALTH LTD

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Notes

NOVA WEALTH LTD

Balance sheet

As at 30 April 2024


Notes

2024

2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 0 547,233
Tangible assets: 4 33,189 37,752
Investments:   0 0
Total fixed assets: 33,189 584,985
Current assets
Stocks: 0 0
Debtors: 5 1,919,661 347,471
Cash at bank and in hand: 149,924 1,274,508
Investments:   0 0
Total current assets: 2,069,585 1,621,979
Creditors: amounts falling due within one year: 6 (566,489) (637,256)
Net current assets (liabilities): 1,503,096 984,723
Total assets less current liabilities: 1,536,285 1,569,708
Creditors: amounts falling due after more than one year:   0 (179,410)
Provision for liabilities: 0 0
Total net assets (liabilities): 1,536,285 1,390,298
Capital and reserves
Called up share capital: 131,335 126,335
Share premium account: 13,001,145 12,506,145
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: (11,596,195) (11,242,182)
Shareholders funds: 1,536,285 1,390,298

The notes form part of these financial statements

NOVA WEALTH LTD

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 August 2024
and signed on behalf of the board by:

Name: Joseph McLean
Status: Director

The notes form part of these financial statements

NOVA WEALTH LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

NOVA WEALTH LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

2. Employees

2024 2023
Average number of employees during the period 56 51

NOVA WEALTH LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Intangible Assets

Total
Cost £
At 01 May 2023 697,343
Additions 0
Disposals (697,343)
Revaluations 0
Transfers 0
At 30 April 2024 0
Amortisation
At 01 May 2023 150,110
Charge for year 0
On disposals (150,110)
Other adjustments 0
At 30 April 2024 0
Net book value
At 30 April 2024 0
At 30 April 2023 547,233

NOVA WEALTH LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Tangible Assets

Total
Cost £
At 01 May 2023 80,496
Additions 15,277
Disposals (12,196)
Revaluations 0
Transfers 0
At 30 April 2024 83,577
Depreciation
At 01 May 2023 42,744
Charge for year 18,359
On disposals (10,715)
Other adjustments 0
At 30 April 2024 50,388
Net book value
At 30 April 2024 33,189
At 30 April 2023 37,752

NOVA WEALTH LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

NOVA WEALTH LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Creditors: amounts falling due within one year note

Trade creditors - £286,665 Tax and social security payable - £121,858 Pensions payable - £31,224 Accruals - £123,347 Amounts owed to group undertakings - £3,395

NOVA WEALTH LTD

Notes to the Financial Statements

for the Period Ended 30 April 2024

7. Related party transactions

In line with paragraph 33.1A of FRS 102, the company did not disclose transactions with wholly owned Group companies wherein any subsidiary undertaking which is a party to the transactions is wholly owned by a member of the Group. Part of the assets of the Company were provided as consideration during the period in a related party transaction between the Company, Nova Wealth Holdings Limited and Octopus Group Holdings Limited. This created an intercompany receivable between the Company and its parent which forms part of the balance of amounts owed by group undertakings.