77 false false false false false false false false false false true true false false false false false No description of principal activity 2024-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 15242202 2024-11-01 2025-04-30 15242202 2025-04-30 15242202 2024-10-31 15242202 2023-10-27 2024-10-31 15242202 2024-10-31 15242202 2023-10-26 15242202 core:PlantMachinery 2024-11-01 2025-04-30 15242202 core:MotorVehicles 2024-11-01 2025-04-30 15242202 bus:RegisteredOffice 2024-11-01 2025-04-30 15242202 bus:OrdinaryShareClass1 2024-11-01 2025-04-30 15242202 bus:LeadAgentIfApplicable 2024-11-01 2025-04-30 15242202 bus:Director1 2024-11-01 2025-04-30 15242202 core:WithinOneYear 2025-04-30 15242202 core:WithinOneYear 2024-10-31 15242202 core:AfterOneYear 2025-04-30 15242202 core:AfterOneYear 2024-10-31 15242202 core:PlantMachinery 2024-10-31 15242202 core:PlantMachinery 2025-04-30 15242202 core:MotorVehicles 2025-04-30 15242202 core:ShareCapital 2025-04-30 15242202 core:ShareCapital 2024-10-31 15242202 core:RetainedEarningsAccumulatedLosses 2025-04-30 15242202 core:RetainedEarningsAccumulatedLosses 2024-10-31 15242202 core:BetweenOneFiveYears 2025-04-30 15242202 core:BetweenOneFiveYears 2024-10-31 15242202 core:PlantMachinery 2024-10-31 15242202 bus:SmallEntities 2024-11-01 2025-04-30 15242202 bus:AuditExemptWithAccountantsReport 2024-11-01 2025-04-30 15242202 bus:SmallCompaniesRegimeForAccounts 2024-11-01 2025-04-30 15242202 bus:PrivateLimitedCompanyLtd 2024-11-01 2025-04-30 15242202 bus:FullAccounts 2024-11-01 2025-04-30 15242202 bus:OrdinaryShareClass1 2025-04-30 15242202 bus:OrdinaryShareClass1 2024-10-31 15242202 core:FurnitureFittingsToolsEquipment 2024-11-01 2025-04-30 15242202 core:LeaseholdImprovements 2024-11-01 2025-04-30 15242202 core:FurnitureFittingsToolsEquipment 2024-10-31 15242202 core:LeaseholdImprovements 2024-10-31 15242202 core:FurnitureFittingsToolsEquipment 2025-04-30 15242202 core:LeaseholdImprovements 2025-04-30 15242202 core:AllSubsidiaries 2024-11-01 2025-04-30
COMPANY REGISTRATION NUMBER: 15242202
Nova Automotive Group Limited
Filleted Unaudited Financial Statements
30 April 2025
Nova Automotive Group Limited
Financial Statements
Period from 1 November 2024 to 30 April 2025
Contents
Page
Officers and professional advisers
1
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Nova Automotive Group Limited
Officers and Professional Advisers
Director
Mr L P Callander
Registered office
Eastways
Eastways Industrial Estate
Witham
Essex
England
CM8 3YQ
Accountants
Edmund Carr LLP
Chartered accountants
146 New London Road
Chelmsford
Essex
CM2 0AW
Nova Automotive Group Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Nova Automotive Group Limited
Period from 1 November 2024 to 30 April 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Nova Automotive Group Limited for the period ended 30 April 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Nova Automotive Group Limited in accordance with the terms of our engagement letter dated 18 November 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Nova Automotive Group Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nova Automotive Group Limited and its director for our work or for this report.
It is your duty to ensure that Nova Automotive Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nova Automotive Group Limited. You consider that Nova Automotive Group Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Nova Automotive Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Edmund Carr LLP Chartered accountants
146 New London Road Chelmsford Essex CM2 0AW
27 August 2025
Nova Automotive Group Limited
Statement of Financial Position
30 April 2025
30 Apr 25
31 Oct 24
Note
£
£
£
£
Fixed assets
Tangible assets
5
905,627
371,523
Current assets
Stocks
352,181
273,488
Debtors
6
1,212,843
985,918
Cash at bank and in hand
873,679
318,641
------------
------------
2,438,703
1,578,047
Creditors: amounts falling due within one year
7
1,650,046
1,098,823
------------
------------
Net current assets
788,657
479,224
------------
---------
Total assets less current liabilities
1,694,284
850,747
Creditors: amounts falling due after more than one year
8
918,747
541,019
Provisions
195,432
78,885
------------
---------
Net assets
580,105
230,843
------------
---------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
580,005
230,743
---------
---------
Shareholders funds
580,105
230,843
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 April 2025 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Nova Automotive Group Limited
Statement of Financial Position (continued)
30 April 2025
These financial statements were approved by the board of directors and authorised for issue on 22 August 2025 , and are signed on behalf of the board by:
Mr L P Callander
Director
Company registration number: 15242202
Nova Automotive Group Limited
Notes to the Financial Statements
Period from 1 November 2024 to 30 April 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Eastways, Eastways Industrial Estate, Witham, Essex, CM8 3YQ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
14% reducing balance
Motor vehicles
-
10% reducing balance
Equipment
-
33% reducing balance
Leasehold improvements
-
7% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 77 (2024: 33 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Leasehold improvements
Total
£
£
£
£
£
Cost
At 1 November 2024
307,179
27,323
61,112
395,614
Additions
367,444
28,821
9,699
178,672
584,636
---------
--------
--------
---------
---------
At 30 April 2025
674,623
28,821
37,022
239,784
980,250
---------
--------
--------
---------
---------
Depreciation
At 1 November 2024
21,772
1,580
739
24,091
Charge for the period
40,977
480
5,248
3,827
50,532
---------
--------
--------
---------
---------
At 30 April 2025
62,749
480
6,828
4,566
74,623
---------
--------
--------
---------
---------
Carrying amount
At 30 April 2025
611,874
28,341
30,194
235,218
905,627
---------
--------
--------
---------
---------
At 31 October 2024
285,407
25,743
60,373
371,523
---------
--------
--------
---------
---------
6. Debtors
30 Apr 25
31 Oct 24
£
£
Trade debtors
981,589
651,253
Amounts owed by related undertakings
120,739
135,675
Other debtors
110,515
198,990
------------
---------
1,212,843
985,918
------------
---------
7. Creditors: amounts falling due within one year
30 Apr 25
31 Oct 24
£
£
Trade creditors
853,293
555,580
Amounts owed to related undertakings
102,289
Accruals and deferred income
253,197
120,717
Social security and other taxes
217,444
103,962
Obligations under finance leases and hire purchase contracts
66,874
Other creditors
259,238
216,275
------------
------------
1,650,046
1,098,823
------------
------------
8. Creditors: amounts falling due after more than one year
30 Apr 25
31 Oct 24
£
£
Trade creditors
88,634
101,136
Accruals and deferred income
484,593
309,983
Obligations under finance leases and hire purchase contracts
240,520
Director loan accounts
129,900
Other creditors
105,000
---------
---------
918,747
541,019
---------
---------
9. Called up share capital
Issued, called up and fully paid
30 Apr 25
31 Oct 24
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
30 Apr 25
31 Oct 24
£
£
Not later than 1 year
170,951
165,357
Later than 1 year and not later than 5 years
56,305
126,621
---------
---------
227,256
291,978
---------
---------
11. Related party transactions
The company has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with wholly owned group companies.