Novyy Technologies Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Navigation Business Village, Navigation Way, Ashton-On-Ribble, Preston, Lancashire, United Kingdom, PR2 2YP.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The average monthly number of persons (including directors) employed by the company during the year was:
At the end of the year, Novyy Technologies Limited, a connected party by virtue of common control, loaned Aretha Capital Partners Ltd £15,954 (2023: £Nil).
At the end of the year, Chawala Estates Limited, a connected party by virtue of common control, was owed £122,170 (2023: £Nil) from Novyy Technologies Limited. The balance relates to deferred income.
At the end of the year, Novyy Technologies Limited, a connected party by virtue of common control, loaned NTL 23 Krstreet CV2 Ltd £1,500 (2023: £2,313).
At the end of the year, Novyy Technologies Limited, a connected party by virtue of common control, loaned NTL 70 Cstreet CV1 Ltd £1,000 (2023: £2,313).
At the end of the year, Novyy Technologies Limited, a connected party by virtue of common control, loaned NTL 71 Cstreet CV1 Ltd £Nil (2023: £2,313).
At the end of the year, Novyy Technologies Limited, a connected party by virtue of common control, loaned NTL 72 Cstreet CV1 Ltd £2,500 (2023: £2,313).
At the end of the year, Novyy Technologies Limited, a connected party by virtue of common control, loaned NTL 73 Cstreet CV1 Ltd £1,000 (2023: £2,313).
At the end of the year, Novyy Technologies Limited, a connected party by virtue of common control, loaned NTL 74 Cstreet CV1 Ltd £1,000 (2023: £2,313).
At the end of the year, Novyy Technologies Limited, a connected party by virtue of common control, owed NTL Assets Limited £46,240 (2023: £138,832).
All the below loans are unsecured, interest fee and repayable on demand.