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Registered number: 15753154












NORVESTOR ADVISORY LTD
FINANCIAL STATEMENTS
FOR THE 7-MONTH PERIOD ENDED 31 DECEMBER 2024

 

NORVESTOR ADVISORY LTD

CONTENTS



Page
Company information
 
1
Balance sheet
 
2
Statement of changes in equity
 
3
Notes to the financial statements
 
4 - 11


 

NORVESTOR ADVISORY LTD
 
COMPANY INFORMATION


Director
O O Vik-Mo 




Registered number
15753154



Registered office
16 Great Queen Street
Covent Garden

London

WC2B 5AH




Independent auditor
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:15753154
NORVESTOR ADVISORY LTD

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
8,328

Current assets
  

Debtors: amounts falling due after more than one year
 5 
25,560

Debtors: amounts falling due within one year
 5 
66,238

Cash at bank and in hand
  
37,037

  
128,835

Creditors: amounts falling due within one year
 6 
(122,894)

Net current assets
  
 
 
5,941

Total assets less current liabilities
  
14,269

  

Net assets
  
14,269


Capital and reserves
  

Called up share capital 
 7 
100

Profit and loss account
  
14,169

Total equity
  
14,269


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account and director's report have not been filed.

The financial statements were approved and authorised for issue by the sole director.




O O Vik-Mo
Director

Date: 20 May 2025

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 

NORVESTOR ADVISORY LTD

STATEMENT OF CHANGES IN EQUITY
FOR THE 7-MONTH PERIOD ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the 7-month period

Profit for the 7-month period
-
14,169
14,169
Total comprehensive income for the 7-month period
-
14,169
14,169


Contributions by and distributions to owners

Shares issued during the 7-month period
100
-
100


Total transactions with owners
100
-
100


At 31 December 2024
100
14,169
14,269

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 

NORVESTOR ADVISORY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 7-MONTH PERIOD ENDED 31 DECEMBER 2024

1.


General information

Norvestor Advisory Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The company was incorporated on 31 May 2024 and commenced trade on 1 June 2024. These financial statements are in respect of the short period from 31 May 2024 to 31 December 2024. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, he continues to adopt the going concern basis in preparing the financial statements

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

Page 4

 

NORVESTOR ADVISORY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 7-MONTH PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Turnover

Revenue from agreements to provide support services is recognised in the period in which the services are provided. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 5

 

NORVESTOR ADVISORY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 7-MONTH PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 6

 

NORVESTOR ADVISORY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 7-MONTH PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.9

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

  
2.10

Share capital

Ordinary shares are classified as equity.


2.11

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest rate method, less any impairment.

Page 7

 

NORVESTOR ADVISORY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 7-MONTH PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)




Financial instruments (continued)

Financial liabilities

Basic financial liabilities, including trade and other creditors and loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets 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 the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet 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.

Page 8

 

NORVESTOR ADVISORY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 7-MONTH PERIOD ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, during the 7-month period was 1.


4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost


Additions
5,820
3,818
9,638



At 31 December 2024

5,820
3,818
9,638



Depreciation


Charge for the 7-month period
660
650
1,310



At 31 December 2024

660
650
1,310



Net book value



At 31 December 2024
5,160
3,168
8,328


5.


Debtors

2024
£

Due after more than one year

Other debtors
25,560


2024
£

Due within one year

Amounts owed by group undertakings
42,100

Other debtors
12,408

Prepayments and accrued income
11,730

66,238


Amounts owed by group undertakings are interest free, have no fixed repayment date and are repayable on demand.

Page 9

 

NORVESTOR ADVISORY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 7-MONTH PERIOD ENDED 31 DECEMBER 2024

6.


Creditors: amounts falling due within one year

2024
£

Trade creditors
5,533

Amounts owed to group undertakings
23,182

Corporation tax
7,157

Other taxation and social security
3,272

Other creditors
675

Accruals and deferred income
83,075

122,894


Amounts owed to group undertakings are interest free, have no fixed repayment date and are repayable on demand.


7.


Share capital

2024
£
Allotted, called up and fully paid


100 ordinary shares of £1.00 each
100


The company issued 100 ordinary shares of £1.00 each, at par, on incorporation, in order to establish the capital structure.
The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the company.


8.


Commitments under operating leases

At 31 December 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
£


Not later than 1 year
84,026

Later than 1 year and not later than 5 years
11,165

95,191


9.


Controlling party

The immediate parent undertaking is Norvestor Capital Partners SCSp acting by its GP Norvestor Capital Partners (GP) S.à r.l  whose registered office is 8 rue Lou Hemmer, 1748 Lumenbourg. Consolidated financial statements are not prepared.

Page 10

 

NORVESTOR ADVISORY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE 7-MONTH PERIOD ENDED 31 DECEMBER 2024

10.


Auditor's information

The auditor's report on the financial statements for the 7-month period ended 31 December 2024 was unqualified.

The audit report was signed on 22 May 2025 by Nicholas Anderson (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.

 
Page 11