REGISTERED NUMBER: SC717696 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Nuova Property Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Z Hussain

REGISTERED OFFICE:

Unit 3, Morris Park

37 Rosyth Road

Glasgow

G5 0YD

REGISTERED NUMBER:

SC717696 (Scotland)

ACCOUNTANTS:

KPP Glasgow South Ltd

Chartered Certified Accountants

Unit 3 , 37 Rosyth Road

Morris Park

Glasgow

G5 0YE

FIXED ASSETS

Intangible assets

4

83,839

-

Tangible assets

5

11,082

3,037

94,921

3,037

CURRENT ASSETS

Debtors

6

5,000

5,000

Cash at bank and in hand

59,453

59,401

64,453

64,401

CREDITORS

Amounts falling due within one year

7

36,027

19,990

NET CURRENT ASSETS

28,426

44,411

TOTAL ASSETS LESS CURRENT LIABILITIES

123,347

47,448

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

123,346

47,447

SHAREHOLDERS' FUNDS

123,347

47,448

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 his 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 director and authorised for issue on 30 September 2025 and were signed by:

Z Hussain - Director

1.	STATUTORY INFORMATION

Nuova Property Ltd 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

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 3 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

83,839

At 31 December 2024

83,839

NET BOOK VALUE

At 31 December 2024

83,839

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

1,600

2,418

4,018

Additions

10,000

-

10,000

At 31 December 2024

11,600

2,418

14,018

DEPRECIATION

At 1 January 2024

444

537

981

Charge for year

1,673

282

1,955

At 31 December 2024

2,117

819

2,936

NET BOOK VALUE

At 31 December 2024

9,483

1,599

11,082

At 31 December 2023

1,156

1,881

3,037

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Associated Company

5,000

5,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Tax

34,459

10,418

Social security and other taxes

356

-

Directors' current accounts

-

8,701

Accrued expenses

1,212

871

36,027

19,990

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1

Ordinary

1

1

1

9.

RESERVES

Retained

earnings

£

At 1 January 2024

47,447

Profit for the year

102,170

Dividends

(26,271

)

At 31 December 2024

123,346