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Company Registration No. 06971486 (England and Wales)
Nova Cars Limited Unaudited accounts for the year ended 31 July 2024
Nova Cars Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Nova Cars Limited Company Information for the year ended 31 July 2024
Directors
T J Prew S M Prew
Secretary
S M Prew
Company Number
06971486 (England and Wales)
Registered Office
Nova Cars Limited 2 Granville Avenue NEWPORT Shropshire TF10 7DX England
Accountants
Pedley's Accountancy Services Ltd Lichfield Lodge Weston Under Lizard Nr Shifnal Shropshire TF11 8LZ
- 3 -
Nova Cars Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
395,021 
395,021 
Current assets
Inventories
495,324 
450,624 
Debtors
5
(111,054)
(50,790)
Cash at bank and in hand
168,025 
93,463 
552,295 
493,297 
Creditors: amounts falling due within one year
6
(278,805)
(268,829)
Net current assets
273,490 
224,468 
Total assets less current liabilities
668,511 
619,489 
Creditors: amounts falling due after more than one year
7
(78,177)
(100,417)
Net assets
590,334 
519,072 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
590,332 
519,070 
Shareholders' funds
590,334 
519,072 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by
T J Prew Director Company Registration No. 06971486
- 4 -
Nova Cars Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Nova Cars Limited is a private company, limited by shares, registered in England and Wales, registration number 06971486. The registered office is Nova Cars Limited, 2 Granville Avenue , NEWPORT, Shropshire, TF10 7DX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25%
Motor vehicles
25%
Fixtures & fittings
25%
Computer equipment
25%
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 August 2023
395,021 
58,859 
3,536 
11,586 
18,417 
487,419 
At 31 July 2024
395,021 
58,859 
3,536 
11,586 
18,417 
487,419 
Depreciation
At 1 August 2023
- 
58,859 
3,536 
11,586 
18,417 
92,398 
At 31 July 2024
- 
58,859 
3,536 
11,586 
18,417 
92,398 
Net book value
At 31 July 2024
395,021 
- 
- 
- 
- 
395,021 
At 31 July 2023
395,021 
- 
- 
- 
- 
395,021 
- 5 -
Nova Cars Limited Notes to the Accounts for the year ended 31 July 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
(22,753)
Trade debtors
(120,022)
(33,898)
Accrued income and prepayments
7,477 
4,370 
Other debtors
1,491 
1,491 
(111,054)
(50,790)
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
22,200 
22,200 
VAT
38,324 
- 
Trade creditors
25,510 
35,185 
Taxes and social security
43,366 
15,503 
Other creditors
22,574 
22,575 
Loans from directors
120,859 
146,356 
Accruals
5,972 
27,010 
278,805 
268,829 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
78,177 
100,417 
8
Average number of employees
During the year the average number of employees was 4 (2023: 4).
- 6 -