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Registered number: 12846107
Nova Catering Repairs Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
B&L Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12846107
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 89,387 124,613
89,387 124,613
CURRENT ASSETS
Debtors 5 224,122 195,311
Cash at bank and in hand 17,690 -
241,812 195,311
Creditors: Amounts Falling Due Within One Year 6 (156,914 ) (93,090 )
NET CURRENT ASSETS (LIABILITIES) 84,898 102,221
TOTAL ASSETS LESS CURRENT LIABILITIES 174,285 226,834
Creditors: Amounts Falling Due After More Than One Year 7 (144,811 ) (220,049 )
NET ASSETS 29,474 6,785
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 29,473 6,784
SHAREHOLDERS' FUNDS 29,474 6,785
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Jack Riches
Director
23/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Nova Catering Repairs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12846107 . The registered office is Unit 8 Two Woods Trading Estate, Talbots Lane, Brierley Hill, West Midlands, DY5 2YX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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:
Motor Vehicles 20% Straight line
Computer Equipment 20% Straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 14)
15 14
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 170,836 5,293 176,129
As at 31 August 2024 170,836 5,293 176,129
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 September 2023 48,745 2,771 51,516
Provided during the period 34,167 1,059 35,226
As at 31 August 2024 82,912 3,830 86,742
Net Book Value
As at 31 August 2024 87,924 1,463 89,387
As at 1 September 2023 122,091 2,522 124,613
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 182,688 163,819
Prepayments and accrued income 41,434 31,492
224,122 195,311
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 198 200
Bank loans and overdrafts - 1,212
Other loans - 2,133
Corporation tax - 5,624
Other taxes and social security 2,692 12,155
VAT 94,814 37,078
Other creditors 12,750 7,354
Director's loan account 46,460 27,334
156,914 93,090
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 121,582 178,065
Bank loans 23,229 41,984
144,811 220,049
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 121,582 178,065
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4
Page 5
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 15,000 20,000
Page 5