Registered number
10982472
Novo Building Ltd
Filleted Accounts
30 September 2024
Novo Building Ltd
Registered number: 10982472
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 19,032 14,552
Current assets
Stocks 285,000 278,678
Debtors 4 106,540 162,551
Cash at bank and in hand 30,350 20,933
421,890 462,162
Creditors: amounts falling due within one year 5 (335,589) (467,551)
Net current assets/(liabilities) 86,301 (5,389)
Total assets less current liabilities 105,333 9,163
Creditors: amounts falling due after more than one year 6 (103,506) (5,000)
Net assets 1,827 4,163
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,727 4,063
Shareholders' funds 1,827 4,163
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Romica Ciprian PALIMARU
Director
Approved by the board on 4 July 2025
Novo Building Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 8,537 17,500 26,037
Additions - 10,530 10,530
At 30 September 2024 8,537 28,030 36,567
Depreciation
At 1 October 2023 4,626 6,859 11,485
Charge for the year 782 5,268 6,050
At 30 September 2024 5,408 12,127 17,535
Net book value
At 30 September 2024 3,129 15,903 19,032
At 30 September 2023 3,911 10,641 14,552
4 Debtors 2024 2023
£ £
Trade debtors 77,119 95,503
Other debtors 29,421 67,048
106,540 162,551
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 29,875 32,302
Trade creditors 2,754 150,327
Taxation and social security costs 282,483 123,467
Other creditors 20,477 161,455
335,589 467,551
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 103,506 5,000
7 Controlling party
Romica Ciprian PALIMARU, a company director controls the company by virtue of holding 100% of the issued share capital.
8 Other information
Novo Building Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Clock House Parade
North Circular Road
London
N13 6BG
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