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Registration number: 08884665

Nova Acoustics Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 31 December 2024

 

Nova Acoustics Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Nova Acoustics Ltd

(Registration number: 08884665)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

5

 

169,962

 

154,826

Current assets

   

 

Debtors

6

142,999

 

132,911

 

Cash at bank and in hand

 

198,053

 

201,313

 

 

341,052

 

334,224

 

Creditors: Amounts falling due within one year

7

(270,020)

 

(191,561)

 

Net current assets

   

71,032

 

142,663

Total assets less current liabilities

   

240,994

 

297,489

Provisions for liabilities

 

(40,922)

 

(38,708)

Net assets

   

200,072

 

258,781

Capital and reserves

   

 

Called up share capital

8

109

 

100

 

Share premium reserve

79,991

 

-

 

Profit and loss account

119,972

 

258,681

 

Total equity

   

200,072

 

258,781

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 May 2025
 

.........................................
Mr Adam Thomas Martin
Director

 

Nova Acoustics Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 4833
Unit 3A
34-35 Hatton Garden
London
EC1N 8DX

The principal place of business is:
Suite 13
Crown houses
94 Armley Road
Leeds
West Yorkshire
LS12 2EJ
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when, the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

Government grants

Government grants are accounted for under the performance model. They are credited to the profit and loss account in the period in which they are received.

 

Nova Acoustics Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

15% Straight Line

Motor Vehicles

25% Reducing Balance

Bespoke Software

10% Straight Line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% Straight Line

Website

20% Straight Line

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Nova Acoustics Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 21 (2023 - 21).

4

Intangible assets

Website costs
 £

Total
£

Cost or valuation

At 1 January 2024

14,114

14,114

At 31 December 2024

14,114

14,114

Amortisation

At 1 January 2024

14,114

14,114

At 31 December 2024

14,114

14,114

Carrying amount

At 31 December 2024

-

-

 

Nova Acoustics Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

5

Tangible assets

Computer Equipment
£

Motor vehicles
 £

Plant and Equipment
 £

Total
£

Cost or valuation

At 1 January 2024

54,840

63,713

224,097

342,650

Additions

-

-

63,619

63,619

Disposals

-

-

(49,076)

(49,076)

At 31 December 2024

54,840

63,713

238,640

357,193

Depreciation

At 1 January 2024

26,544

30,795

130,485

187,824

Charge for the year

5,484

8,229

34,770

48,483

Eliminated on disposal

-

-

(49,076)

(49,076)

At 31 December 2024

32,028

39,024

116,179

187,231

Carrying amount

At 31 December 2024

22,812

24,689

122,461

169,962

At 31 December 2023

28,296

32,918

93,612

154,826

6

Debtors

Current

2024
£

2023
£

Trade debtors

110,875

103,354

Prepayments

32,124

29,557

 

142,999

132,911

7

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

253,006

178,614

Other creditors

17,014

12,947

270,020

191,561

 

Nova Acoustics Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £0.01 (2023 - £1) each

10,000

100.00

100

100

Ordinary A of £0.01 (2023 - £0) each

435

4.35

-

-

Ordinary B of £0.01 (2023 - £0) each

435

4.35

-

-

 

10,870

109

100

100

9

Parent and ultimate parent undertaking

The company's immediate parent is Nova & Co Holdings Ltd, incorporated in England and Wales.