NOVAHEIGHTS LIMITED

Company Registration Number:
01848280 (England and Wales)

Unaudited abridged accounts for the year ended 30 December 2024

Period of accounts

Start date: 31 December 2023

End date: 30 December 2024

NOVAHEIGHTS LIMITED

Contents of the Financial Statements

for the Period Ended 30 December 2024

Balance sheet
Notes

NOVAHEIGHTS LIMITED

Balance sheet

As at 30 December 2024


Notes
2024
2023


£
£
Fixed assets
Tangible assets: 3 935 935
Investments: 4 8,965,067 6,978,190
Total fixed assets: 8,966,002 6,979,125
Current assets
Debtors:   764,731 720,605
Cash at bank and in hand: 137,299 2,054,266
Investments:     30,500
Total current assets: 902,030 2,805,371
Creditors: amounts falling due within one year:   (2,853,442) (2,898,937)
Net current assets (liabilities): (1,951,412) (93,566)
Total assets less current liabilities: 7,014,590 6,885,559
Creditors: amounts falling due after more than one year:   (15,833) (24,048)
Provision for liabilities: (278,101) (278,101)
Total net assets (liabilities): 6,720,656 6,583,410
Capital and reserves
Called up share capital: 100 100
Revaluation reserve:51,436,4701,436,470
Profit and loss account: 5,284,086 5,146,840
Shareholders funds: 6,720,656 6,583,410

The notes form part of these financial statements

NOVAHEIGHTS LIMITED

Balance sheet statements

For the year ending 30 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 September 2025
and signed on behalf of the board by:

Name: Mr T Vorhand
Status: Director

The notes form part of these financial statements

NOVAHEIGHTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents rent receivable,all rents receivable arose within the United Kingdom.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Tangible fixed assets include investment properties valued by Directors on an existing use open market value basis. Other tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows: Motor vehicles 25% Reducing Balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Valuation and information policy

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Other accounting policies

Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. There is no material difference in value to provide deferred taxation for the year to 31 December 2024.

NOVAHEIGHTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2024

2. Employees

2024 2023
Average number of employees during the period 3 3

NOVAHEIGHTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2024

3. Tangible Assets

Total
Cost £
At 31 December 2023 7,000
At 30 December 2024 7,000
Depreciation
At 31 December 2023 6,065
At 30 December 2024 6,065
Net book value
At 30 December 2024 935
At 30 December 2023 935

NOVAHEIGHTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2024

4. Fixed investments

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 2023 by the directors and there is no material difference during the year. The valuation was made on an open market value estimated by the directors on the basis of transaction prices for similar properties.

NOVAHEIGHTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2024

5. Revaluation reserve

2024
£
Balance at 31 December 2023 1,436,470
Surplus or deficit after revaluation 0
Balance at 30 December 2024 1,436,470

NOVAHEIGHTS LIMITED

Notes to the Financial Statements

for the Period Ended 30 December 2024

6. Related party transactions

Name of the related party: Ondawn Limited
Relationship:
Director is also a trustee of Ondawn Limited
Description of the Transaction: Included in other creditors, the amount of £2,815,725 owed to Ondawn Limited, in which Mr. Vorhand is a trustee of the Charity. During the year, Ondawn Limited charged £108,759 to Novaheights Limited in respect of the above outstanding loan. The interest is charged 4% on the opening loan amount each year. The director believe that 4% is a market rate during the year.
£
Balance at 31 December 2023 2,857,410
Balance at 30 December 2024 2,828,759