2023-10-012024-09-302024-09-30false08696746NOVAEVO 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NOVAEVO LTD

Registered Number
08696746
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

NOVAEVO LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

CALIARI, Giulia
LO PRESTI, Maria Antonina

Registered Address

Linen Hall 162-168 Regent Street Room 252-254
London
W1B 5TB

Registered Number

08696746 (England and Wales)
NOVAEVO LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Called up share capital not paid212212
Fixed assets
Investments4536,664475,882
536,664475,882
Current assets
Debtors573,07161,384
Cash at bank and on hand15,97212,980
89,04374,364
Creditors amounts falling due within one year6(62,150)(58,274)
Net current assets (liabilities)27,10516,302
Total assets less current liabilities563,769492,184
Net assets563,769492,184
Capital and reserves
Called up share capital212212
Profit and loss account563,557491,972
Shareholders' funds563,769492,184
The financial statements were approved and authorised for issue by the Board of Directors on 6 March 2025, and are signed on its behalf by:
CALIARI, Giulia
Director
Registered Company No. 08696746
NOVAEVO LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from rendering of services
Revenue 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.
Interest income
Interest income is recognised using the effective interest rate method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 October 2341,14541,145
At 30 September 2441,14541,145
Depreciation and impairment
At 01 October 2341,14541,145
At 30 September 2441,14541,145
Net book value
At 30 September 24--
At 30 September 23--
4.Fixed asset investments

Loans to groups1

Total

££
Cost or valuation
At 01 October 23475,882475,882
Additions60,78260,782
At 30 September 24536,664536,664
Net book value
At 30 September 24536,664536,664
At 30 September 23475,882475,882

Notes

1Loans to group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables64,82247,560
Other debtors7,7571,435
Total72,57948,995
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security60,00556,227
Accrued liabilities and deferred income2,1452,047
Total62,15058,274
7.Related party transactions
As at the financial year end, there is a loan receivable from the parent company of £536,664 (2023: £475,882)