Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Keith Forbes Gordon 29/07/2020 16 July 2025 The principal activity of the Company during the financial period was the distribution of a modular system for power and lighting.

The company ceased trading on 31 March 2023 and the director is considering the future direction of the company.
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Company No: SC669200 (Scotland)

NOVUS 48 LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

NOVUS 48 LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

NOVUS 48 LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
NOVUS 48 LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Current assets
Debtors 3 0 17,245
Cash at bank and in hand 4 85 5,329
85 22,574
Creditors: amounts falling due within one year 5 ( 2,519) ( 2,749)
Net current (liabilities)/assets (2,434) 19,825
Total assets less current liabilities (2,434) 19,825
Net (liabilities)/assets ( 2,434) 19,825
Capital and reserves
Called-up share capital 6 1,000 1,000
Share premium account 76,123 76,123
Profit and loss account ( 79,557 ) ( 57,298 )
Total shareholder's (deficit)/funds ( 2,434) 19,825

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 financial statements of Novus 48 Limited (registered number: SC669200) were approved and authorised for issue by the Director on 16 July 2025. They were signed on its behalf by:

Keith Forbes Gordon
Director
NOVUS 48 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
NOVUS 48 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Novus 48 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Unit 1c Frances Industrial Park Wemyss Road, Dysart, Kirkcaldy, KY1 2XZ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

On 31 March 2023 the directors made the decision that the Company would cease trading and that the residual trading activities be transferred to Ten 47 Limited a fellow group company. The transfer was finalised in November 2023. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Turnover

Turnover represents amounts receivable for the distribution of a modular system for power and lighting net of VAT up to 31 March 2023.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a 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.

Basic financial assets
Basic financial assets, which include debtor and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Debtors

2024 2023
£ £
Other debtors 0 17,245

4. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 85 5,329

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 2,519 2,749

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
400 A Ordinary shares of £ 1.00 each 400 400
300 B Ordinary shares of £ 1.00 each 300 300
135 C Ordinary shares of £ 1.00 each 135 135
135 D Ordinary shares of £ 1.00 each 135 135
30 E Ordinary shares of £ 1.00 each 30 30
1,000 1,000