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REGISTERED NUMBER: 06023752 (England and Wales)







Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Nova Transport Ltd

Nova Transport Ltd (Registered number: 06023752)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

Nova Transport Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr J J Pederick





SECRETARY: Mrs D J Pederick





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY





REGISTERED NUMBER: 06023752 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Nova Transport Ltd (Registered number: 06023752)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 271,789 214,025

CURRENT ASSETS
Debtors 5 49,894 80,114
Cash at bank 51,423 71,933
101,317 152,047
CREDITORS
Amounts falling due within one year 6 272,043 205,611
NET CURRENT LIABILITIES (170,726 ) (53,564 )
TOTAL ASSETS LESS CURRENT LIABILITIES 101,063 160,461

CREDITORS
Amounts falling due after more than one year 7 (144,769 ) (83,651 )

PROVISIONS FOR LIABILITIES (44,042 ) (30,877 )
NET (LIABILITIES)/ASSETS (87,748 ) 45,933

CAPITAL AND RESERVES
Called up share capital 9 110 110
Retained earnings 10 (87,858 ) 45,823
SHAREHOLDERS' FUNDS (87,748 ) 45,933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 7 March 2025 and were signed by:




Mr J J Pederick - Director


Nova Transport Ltd (Registered number: 06023752)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Nova Transport Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - Straight line over 5 years
Fixtures and fittings - Straight line over 5 years
Motor vehicles - Straight line over 5 years
Computer equipment - Straight line over 4 years

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
These accounts have been prepared on the going concern basis which assumes the continued operational existence of the company. The director confirms he will continue to support the company and therefore the going concern concept is considered to be appropriate.

Nova Transport Ltd (Registered number: 06023752)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 117,678 21,998 381,698 1,996 523,370
Additions 26,750 - 122,500 585 149,835
Disposals - - (71,850 ) - (71,850 )
At 29 February 2024 144,428 21,998 432,348 2,581 601,355
DEPRECIATION
At 1 March 2023 67,161 21,998 219,274 912 309,345
Charge for year 16,416 - 73,950 610 90,976
Eliminated on disposal - - (70,755 ) - (70,755 )
At 29 February 2024 83,577 21,998 222,469 1,522 329,566
NET BOOK VALUE
At 29 February 2024 60,851 - 209,879 1,059 271,789
At 28 February 2023 50,517 - 162,424 1,084 214,025

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2023 66,650 130,285 196,935
Additions 26,750 122,500 149,250
Transfer to ownership (66,650 ) - (66,650 )
At 29 February 2024 26,750 252,785 279,535
DEPRECIATION
At 1 March 2023 19,732 9,009 28,741
Charge for year 13,776 50,557 64,333
Transfer to ownership (33,062 ) - (33,062 )
At 29 February 2024 446 59,566 60,012
NET BOOK VALUE
At 29 February 2024 26,304 193,219 219,523
At 28 February 2023 46,918 121,276 168,194

Nova Transport Ltd (Registered number: 06023752)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 41,623 75,838
Other debtors 6,667 -
Tax - 2,026
Prepayments 1,604 2,250
49,894 80,114

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 54,791 -
Hire purchase contracts 52,326 37,914
Trade creditors 567 867
Social security and other taxes 4,033 5,610
VAT 14,023 10,704
Other creditors 1,175 2,812
Directors' current accounts 138,378 144,124
Accrued expenses 6,750 3,580
272,043 205,611

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 144,769 83,651

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 197,095 121,565

Hire purchases outstanding are secured against the assets it is financing.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100
10 Ordinary B £1 10 10
110 110

Nova Transport Ltd (Registered number: 06023752)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

10. RESERVES
Retained
earnings
£   

At 1 March 2023 45,823
Deficit for the year (133,681 )
At 29 February 2024 (87,858 )

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Nova Transport Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nova Transport Ltd for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Nova Transport Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Nova Transport Ltd and state those matters that we have agreed to state to the director of Nova Transport Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nova Transport Ltd and its director for our work or for this report.

It is your duty to ensure that Nova Transport Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Nova Transport Ltd. You consider that Nova Transport Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nova Transport Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY


7 March 2025