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REGISTERED NUMBER: SC121388 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NOVATEXT GRAPHIX LIMITED
NOVATEXT GRAPHIX LIMITED (REGISTERED NUMBER: SC121388)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NOVATEXT GRAPHIX LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2024







DIRECTOR: Professor K S Graham





REGISTERED OFFICE: 5 South Charlotte Street
Edinburgh
EH2 4AN





REGISTERED NUMBER: SC121388 (Scotland)
Page 1
NOVATEXT GRAPHIX LIMITED (REGISTERED NUMBER: SC121388)

BALANCE SHEET
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 700,000 700,000
700,000 700,000

CURRENT ASSETS
Debtors 6 3,672 -
Cash at bank 96,710 60,139
100,382 60,139
CREDITORS
Amounts falling due within one year 7 233,054 229,169
NET CURRENT LIABILITIES (132,672 ) (169,030 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
567,328
530,970

PROVISIONS FOR LIABILITIES 9 72,000 72,400
NET ASSETS 495,328 458,570

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 10 348,176 347,776
Retained earnings 10 147,150 110,792
SHAREHOLDERS' FUNDS 495,328 458,570

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 director acknowledges her 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 notes form part of these financial statements

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NOVATEXT GRAPHIX LIMITED (REGISTERED NUMBER: SC121388)

BALANCE SHEET - continued
31 December 2024


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 director and authorised for issue on 3 September 2025 and were signed by:





Professor K S Graham - Director


The notes form part of these financial statements

Page 3
NOVATEXT GRAPHIX LIMITED (REGISTERED NUMBER: SC121388)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Novatext Graphix Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of rents receivable for the year with rentals received in advance being reflected within other creditors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

The directors undertake an impairment review of tangible fixed assets where there is an indication of impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Basic financial instruments
Short term debtors are measured at transaction price less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term creditors are measured at transaction 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
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.


Page 4 continued...
NOVATEXT GRAPHIX LIMITED (REGISTERED NUMBER: SC121388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 989
Disposals (989 )
At 31 December 2024 -
DEPRECIATION
At 1 January 2024 989
Eliminated on disposal (989 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 700,000
NET BOOK VALUE
At 31 December 2024 700,000
At 31 December 2023 700,000

Page 5 continued...
NOVATEXT GRAPHIX LIMITED (REGISTERED NUMBER: SC121388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2013 236,836
Valuation in 2017 50,000
Valuation in 2018 50,000
Valuation in 2019 10,000
Valuation in 2021 10,000
Valuation in 2023 54,816
Cost 288,348
700,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.12.24 31.12.23
£    £   
Cost 288,348 288,348

The investment property was valued on an open market basis on 31 December 2023 by Allied Surveyors Scotland .

The director does not consider that there has been any material change in the valuation of the investment property since 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 3,492 -
Other debtors 180 -
3,672 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Taxation and social security 8,040 5,105
Other creditors 225,014 224,064
233,054 229,169

Included within creditors is an amount of £15,469 (2023 - £15,248) in respect of funds held within cash at bank as a rental deposit including accumulated interest.

Page 6 continued...
NOVATEXT GRAPHIX LIMITED (REGISTERED NUMBER: SC121388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Director's loan - 122,118
Loan 199,559 74,325
199,559 196,443

At both 31 December 2024 and 2023, the loans were secured by standard securities over the company's premises.

9. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax
Investment property revaln gain 72,000 72,400

Deferred
tax
£   
Balance at 1 January 2024 72,400
Movement on capital allowances
in advance of depreciation
Movement on provision re tax
on investment property at
valuation (400 )
Balance at 31 December 2024 72,000

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2024 110,792 347,776 458,568
Profit for the year 36,758 - 36,758
Deferred tax movement re
investment property at valuation
(400
)
400
-
At 31 December 2024 147,150 348,176 495,326

11. RELATED PARTY DISCLOSURES

Included within creditors are loan balances due to the director of £558 (2023 - £122,118) and to a family trust fund of £199,559 (2023 - £74,325). The trust fund loan is secured over the company's property, is interest free and without formal terms for repayment. The loan from the director during 2023 was subject to interest at 7% pa until the director's death on 1 January 2024 following which no interest was applied to director's loan balances. In the current year, interest of £nil (2023 - £8,602) was payable with £nil (2023 - £2,132) accrued at the year end.

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