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Registered number: 05562317
Nevo Developments Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
J C Accountancy
MIAB
19 Ashwell Bank Lane
Tackley
Oxon
OX5 3FH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05562317
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 564,186 748,667
Investments 5 721,388 750,000
1,285,574 1,498,667
CURRENT ASSETS
Debtors 6 71,219 79,995
Cash at bank and in hand 871,351 792,580
942,570 872,575
Creditors: Amounts Falling Due Within One Year 7 (185,424 ) (385,625 )
NET CURRENT ASSETS (LIABILITIES) 757,146 486,950
TOTAL ASSETS LESS CURRENT LIABILITIES 2,042,720 1,985,617
PROVISIONS FOR LIABILITIES
Deferred Taxation (252,607 ) (235,771 )
NET ASSETS 1,790,113 1,749,846
CAPITAL AND RESERVES
Called up share capital 8 200 200
Revaluation reserve 9 (13,380 ) -
Profit and Loss Account 1,803,293 1,749,646
SHAREHOLDERS' FUNDS 1,790,113 1,749,846
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Harris
Director
09/05/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Nevo Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05562317 . The registered office is Nevo Developments Ltd, Arena 14, Unit 3 Charbridge Lane, Bicester Park, Bicester, Oxfordshire, OX26 4SS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% reducing balance
Plant & Machinery 10% SL for long life assets and 25% RB for standard assets
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 October 2023 113,900 1,758,990 25,165 7,187
Additions 6,697 24,954 - -
As at 30 September 2024 120,597 1,783,944 25,165 7,187
Depreciation
As at 1 October 2023 95,648 1,082,811 1,136 5,047
Provided during the period 5,518 200,033 512 331
As at 30 September 2024 101,166 1,282,844 1,648 5,378
Net Book Value
As at 30 September 2024 19,431 501,100 23,517 1,809
As at 1 October 2023 18,252 676,179 24,029 2,140
Computer Equipment Total
£ £
Cost
As at 1 October 2023 121,261 2,026,503
Additions 1,407 33,058
As at 30 September 2024 122,668 2,059,561
Depreciation
As at 1 October 2023 93,194 1,277,836
Provided during the period 11,145 217,539
As at 30 September 2024 104,339 1,495,375
Net Book Value
As at 30 September 2024 18,329 564,186
As at 1 October 2023 28,067 748,667
Page 4
Page 5
5. Investments
Listed
£
Cost
As at 1 October 2023 750,000
Revaluations (28,612 )
As at 30 September 2024 721,388
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 721,388
As at 1 October 2023 750,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 38,518 43,952
Prepayments and accrued income 18,051 16,438
VAT - 5,105
Other taxes and social security 150 -
56,719 65,495
Due after more than one year
Other debtors 14,500 14,500
71,219 79,995
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 35,208 61,612
Corporation tax 109,337 4,422
Other taxes and social security - 102
VAT 1,119 -
Other creditors 2,294 1,122
Accruals and deferred income 3,569 316,398
Director's loan account 33,897 1,969
185,424 385,625
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
Page 5
Page 6
9. Reserves
Revaluation Reserve
£
Deficit on revaluation (13,380)
As at 30 September 2024 (13,380 )
Page 6