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Registered Number: 14253402
UK

 

 

 


Unaudited Financial Statements

for the year ended 31 July 2024

for

NOVATIDE ELECTRICAL SERVICES LTD

 
 
Notes
 
2024
£
  2023
£
Turnover 192,995    233,467 
Cost of sales (24,159)   (80,898)
Gross profit 168,836    152,569 
Administrative expenses (143,349)   (105,953)
Operating profit 25,487    46,616 
Interest payable and similar charges (312)   (260)
Profit/(Loss) on ordinary activities before taxation 25,175    46,356 
Tax on profit on ordinary activities (7,444)   (6,233)
Profit/(Loss) for the financial year 17,731    40,123 
 
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 8,472    11,331 
8,472    11,331 
Current assets      
Stocks 4 14,500   
Debtors 5 33,843    31,793 
Cash at bank and in hand 7,146    30,601 
55,489    62,394 
Creditors: amount falling due within one year 6 (57,670)   (56,238)
Net current assets (2,181)   6,156 
 
Total assets less current liabilities 6,291    17,487 
Creditors: amount falling due after more than one year 7 (1,219)   (2,264)
Provisions for liabilities 8 (2,118)  
Net assets 2,954    15,223 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 2,854    15,123 
Shareholders' funds 2,954    15,223 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 24 October 2024 and were signed on its behalf by:


-------------------------------
James Kieran Murphy
Director
2
General Information
Novatide Electrical Services Ltd is a private company, limited by shares, registered in UK, registration number 14253402, registration address 13 The Close, Norwich, NR14DS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 33% Straight Line
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 August 2023 5,959    8,100    308    14,367 
Additions      
Disposals      
At 31 July 2024 5,959    8,100    308    14,367 
Depreciation
At 01 August 2023 1,490    1,538    8    3,036 
Charge for year 1,117    1,640    102    2,859 
On disposals      
At 31 July 2024 2,607    3,178    110    5,895 
Net book values
Closing balance as at 31 July 2024 3,352    4,922    198    8,472 
Opening balance as at 01 August 2023 4,469    6,562    300    11,331 


4.

Stocks

2024
£
  2023
£
Stocks 14,500   
14,500   

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 10,278    15,367 
Other Debtors 23,565   
CIS Control Account   15,230 
VAT   1,196 
33,843    31,793 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 11,559    6,233 
PAYE & Social Security   268 
Other Creditors 395   
Obligations under HP/Financial Leases 1,045    1,045 
Directors' Current Accounts 44,671    48,692 
57,670    56,238 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations Under HP/Financial Leases 1,219    2,264 
1,219    2,264 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 2,118   
2,118   

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3