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REGISTERED NUMBER: 01056748 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

NOVATECH MEASUREMENTS LIMITED

NOVATECH MEASUREMENTS LIMITED (REGISTERED NUMBER: 01056748)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NOVATECH MEASUREMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: I C Papworth
D R Shipton
G L Payne





SECRETARY: G L Payne





REGISTERED OFFICE: 83 Castleham Road
St Leonards On Sea
East Sussex
TN38 9NT





REGISTERED NUMBER: 01056748 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

NOVATECH MEASUREMENTS LIMITED (REGISTERED NUMBER: 01056748)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 175,295 131,302
175,295 131,302

CURRENT ASSETS
Stocks 145,086 144,486
Debtors 6 1,524,587 1,329,819
Cash at bank and in hand 295,512 287,124
1,965,185 1,761,429
CREDITORS
Amounts falling due within one year 7 (267,043 ) (233,182 )
NET CURRENT ASSETS 1,698,142 1,528,247
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,873,437

1,659,549

CREDITORS
Amounts falling due after more than one
year

8

(64,147

)

(91,039

)

PROVISIONS FOR LIABILITIES (41,194 ) (29,723 )
NET ASSETS 1,768,096 1,538,787

CAPITAL AND RESERVES
Called up share capital 9 15,000 15,000
Retained earnings 1,753,096 1,523,787
SHAREHOLDERS' FUNDS 1,768,096 1,538,787

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

NOVATECH MEASUREMENTS LIMITED (REGISTERED NUMBER: 01056748)

BALANCE SHEET - continued
30 JUNE 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





G L Payne - Director


NOVATECH MEASUREMENTS LIMITED (REGISTERED NUMBER: 01056748)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Novatech Measurements 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. 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.

Amortisation
Amortisation is provided on intangible assets so as to write off the cost less amy estimated residual value, over their useful life as follows:
Trade marks - 20% reducing balance basis

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Loadcell equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


NOVATECH MEASUREMENTS LIMITED (REGISTERED NUMBER: 01056748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and Development
licences costs Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 741 23,969 24,710
AMORTISATION
At 1 July 2023
and 30 June 2024 741 23,969 24,710
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 - - -

NOVATECH MEASUREMENTS LIMITED (REGISTERED NUMBER: 01056748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Loadcell
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 471,064 84,603 14,282 14,298 584,247
Additions 68,320 6,992 - - 75,312
Disposals - - (14,282 ) - (14,282 )
At 30 June 2024 539,384 91,595 - 14,298 645,277
DEPRECIATION
At 1 July 2023 345,951 79,142 13,943 13,909 452,945
Charge for year 29,015 1,868 - 97 30,980
Eliminated on disposal - - (13,943 ) - (13,943 )
At 30 June 2024 374,966 81,010 - 14,006 469,982
NET BOOK VALUE
At 30 June 2024 164,418 10,585 - 292 175,295
At 30 June 2023 125,113 5,461 339 389 131,302

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 211,937 94,249
Amounts owed by group undertakings 1,278,835 1,179,940
Other debtors 33,815 55,630
1,524,587 1,329,819

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 26,892 26,640
Trade creditors 43,525 57,027
Taxation and social security 167,074 86,313
Other creditors 29,552 63,202
267,043 233,182

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 64,147 91,039

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 2,778

NOVATECH MEASUREMENTS LIMITED (REGISTERED NUMBER: 01056748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
15,000 Ordinary £1 15,000 15,000

10. RELATED PARTY DISCLOSURES

At the balance sheet date £750,879 (2023: £871,129) was owed from the parent company Novatech Loadcells Limited. During the year the company paid dividends to its parent totalling £171,000 (2023: £71,000).

At the balance sheet date £527,956 (2023: £308,811) was owed from the ultimate parent company Novatech Loadcells D&M Limited.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors, who hold 100% of the share capital of the ultimate parent Novatech Loadcells D & M Limited.