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REGISTERED NUMBER: 02518323 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

NOVA FOODS LIMITED

NOVA FOODS LIMITED (REGISTERED NUMBER: 02518323)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NOVA FOODS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr J Demetriades
Mr G Heracleous
Mr J Hajiyianni
Mrs M A Heracleous





REGISTERED OFFICE: Barbican Pasta Bar
40 Southside Street
The Barbican
Plymouth
Devon
PL1 2LE





REGISTERED NUMBER: 02518323 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

NOVA FOODS LIMITED (REGISTERED NUMBER: 02518323)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 162,127 169,770
162,127 169,770

CURRENT ASSETS
Stocks 6 9,939 12,504
Debtors 7 11,920 17,031
Cash at bank and in hand 86,044 118,292
107,903 147,827
CREDITORS
Amounts falling due within one year 8 136,974 127,199
NET CURRENT (LIABILITIES)/ASSETS (29,071 ) 20,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,056

190,398

CREDITORS
Amounts falling due after more than one
year

9

(9,291

)

(14,267

)

PROVISIONS FOR LIABILITIES 10 (26,780 ) (26,780 )
NET ASSETS 96,985 149,351

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 96,885 149,251
SHAREHOLDERS' FUNDS 96,985 149,351

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

NOVA FOODS LIMITED (REGISTERED NUMBER: 02518323)

BALANCE SHEET - continued
31 AUGUST 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by:




Mr J Demetriades - Director Mr G Heracleous - Director




Mr P Heracleous - Director Mr J Hajiyianni - Director


NOVA FOODS LIMITED (REGISTERED NUMBER: 02518323)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Nova Foods 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - not provided
Cutlery and crockery - 25% on reducing balance
Furniture & equipment - 10% on reducing balance
Motor vehicles - 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

NOVA FOODS LIMITED (REGISTERED NUMBER: 02518323)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 82,500
AMORTISATION
At 1 September 2023
and 31 August 2024 82,500
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Cutlery
to and Furniture Motor
property crockery & equipment vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023
and 31 August 2024 95,553 65,917 391,411 25,864 578,745
DEPRECIATION
At 1 September 2023 - 65,747 318,674 24,554 408,975
Charge for year - 42 7,274 327 7,643
At 31 August 2024 - 65,789 325,948 24,881 416,618
NET BOOK VALUE
At 31 August 2024 95,553 128 65,463 983 162,127
At 31 August 2023 95,553 170 72,737 1,310 169,770

NOVA FOODS LIMITED (REGISTERED NUMBER: 02518323)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 12,839
DEPRECIATION
At 1 September 2023 11,554
Charge for year 321
At 31 August 2024 11,875
NET BOOK VALUE
At 31 August 2024 964
At 31 August 2023 1,285

6. STOCKS
31.8.24 31.8.23
£    £   
Stocks 9,939 12,504

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 9,232 8,351
Tax - 2,791
Prepayments and accrued income 2,688 5,889
11,920 17,031

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 7,291 21,356
Trade creditors 53,609 46,782
Corporation tax payable 769 -
Social security and other taxes 7,953 5,488
VAT 47,088 45,853
Amount due to related company 10,000 -
Pension 2,526 1,656
Directors' current accounts 4,538 3,064
Accrued expenses 3,200 3,000
136,974 127,199

NOVA FOODS LIMITED (REGISTERED NUMBER: 02518323)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued



The bank loan and overdraft are secured by a fixed and floating charge over all of the company's assets and by directors guarantees.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans - 1-2 years 9,291 14,267

10. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 26,780 26,780

Deferred
tax
£   
Balance at 1 September 2023 26,780
Balance at 31 August 2024 26,780

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 September 2023 149,251
Deficit for the year (4,366 )
Dividends (48,000 )
At 31 August 2024 96,885

13. ULTIMATE CONTROLLING PARTY

The directors together control the company as a result of controlling directly 100% of the issued ordinary share capital.