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REGISTERED NUMBER: 03599526















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Novatel Systems Limited

Novatel Systems Limited (Registered number: 03599526)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


Novatel Systems Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: I G Gray
Mrs A E Gray





SECRETARY: I G Gray





REGISTERED OFFICE: Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP





REGISTERED NUMBER: 03599526





ACCOUNTANTS: Havard & Associates
Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP

Novatel Systems Limited (Registered number: 03599526)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,590 2,690

CURRENT ASSETS
Debtors 5 100,919 30,004
Cash at bank 208,513 211,725
309,432 241,729
CREDITORS
Amounts falling due within one year 6 87,715 68,481
NET CURRENT ASSETS 221,717 173,248
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,307

175,938

PROVISIONS FOR LIABILITIES 682 352
NET ASSETS 224,625 175,586

CAPITAL AND RESERVES
Called up share capital 7 10 10
Retained earnings 224,615 175,576
SHAREHOLDERS' FUNDS 224,625 175,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by:



I G Gray - Director


Novatel Systems Limited (Registered number: 03599526)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Novatel Systems Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life:

Fixtures & fittings - 20% reducing value.
Computer equipment - 33.33% straight line.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Novatel Systems Limited (Registered number: 03599526)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 13,109
Additions 3,027
At 31 December 2024 16,136
DEPRECIATION
At 1 January 2024 10,419
Charge for year 2,127
At 31 December 2024 12,546
NET BOOK VALUE
At 31 December 2024 3,590
At 31 December 2023 2,690

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 52,070 27,809
Other debtors 48,849 2,195
100,919 30,004

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts - 30
Trade creditors 2,167 1,304
Taxation and social security 78,966 51,561
Other creditors 6,582 15,586
87,715 68,481

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
10 Ordinary £1 10 10