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REGISTERED NUMBER: 14358898 (England and Wales)















Nova Summits Limited

Unaudited Financial Statements for the Year Ended 30 September 2024






Nova Summits Limited (Registered number: 14358898)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Nova Summits Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: R Anderson
W R Austin



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 14358898 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Revolut
7 Westferry Circus
London
E14 4HD

Nova Summits Limited (Registered number: 14358898)

Abridged Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 13,359 3,358

CURRENT ASSETS
Debtors 40,523 1,152
Cash at bank and in hand 76,682 50,653
117,205 51,805
CREDITORS
Amounts falling due within one year 59,998 56,910
NET CURRENT ASSETS/(LIABILITIES) 57,207 (5,105 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,566

(1,747

)

PROVISIONS FOR LIABILITIES 6 - 638
NET ASSETS/(LIABILITIES) 70,566 (2,385 )

CAPITAL AND RESERVES
Called up share capital 7 300 300
Retained earnings 70,266 (2,685 )
SHAREHOLDERS' FUNDS 70,566 (2,385 )

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

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

The directors acknowledge their 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.

Nova Summits Limited (Registered number: 14358898)

Abridged Statement of Financial Position - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2025 and were signed on its behalf by:





R Anderson - Director


Nova Summits Limited (Registered number: 14358898)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Nova Summits 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in accordance with applicable accounting standards and estimation techniques.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of 6.67 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

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

Nova Summits Limited (Registered number: 14358898)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 3,981
Additions 15,717
Disposals (3,981 )
At 30 September 2024 15,717
AMORTISATION
At 1 October 2023 623
Amortisation for year 2,358
Eliminated on disposal (623 )
At 30 September 2024 2,358
NET BOOK VALUE

At 30 September 2024 13,359
At 30 September 2023 3,358

6. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax - 638

Deferred
tax
£   
Balance at 1 October 2023 638
Credit to Income Statement during year (638 )
Balance at 30 September 2024 -

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 'A' Ordinary £1 100 100
100 'B' Ordinary £1 100 100
100 'C' Ordinary £1 100 100
300 300

All classes of shares rank pari passu in all respects.

8. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the period/year by it's directors Ryan Anderson and William R Austin by virtue of the fact that they own 57% of the issued share capital.