Nova Techset Ltd - Filleted accounts

Registered number

02420700

Nova Techset Ltd

Filleted Accounts

31 March 2025

Nova Techset Ltd
Registered number:		02420700
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	5		525,032			-
Tangible assets	6		20,511			48,712
			545,543			48,712

Current assets
Stocks		297,803			905,454
Debtors	7	4,877,809			5,081,808
Cash at bank and in hand		150,736			27,003
		5,326,348			6,014,265

Creditors: amounts falling due within one year	8	(2,426,853)			(2,668,954)

Net current assets			2,899,495			3,345,311

Total assets less current liabilities			3,445,038			3,394,023

Creditors: amounts falling due after more than one year	9		(442,044)			(642,823)


Net assets			3,002,994			2,751,200

Capital and reserves
Called up share capital			100			100
Profit and loss account			3,002,894			2,751,100

Shareholders' funds			3,002,994			2,751,200

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Yogesh Agarwal
Director
Approved by the board on 18.12.2025

Nova Techset Ltd
Notes to the Accounts
for the year ended 31 March 2025


1	STATUTORY INFORMATION
	Nova Techset Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

1	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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods or on completion of the designated services; it is probable that future economic benefits will flow to the entity; and specific criteria have met for each of the company's activities

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Depreciation is provided at the straight line method in order to write off each asset over its estimated useful life.

	Type of Assets			Useful Life
	Computers and Accessories (Plant & Machinery)			3 Years
	Electrical Fittings			5 Years
	Furniture & Fixtures			4 Years
	Office Equipment			4 Years
	Improvements to Lease Hold			5 Years


	Stocks
	Work in progress is valued at the lower of cost and net realisable value. Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling. Costs in bringing stocks to their present location and condition.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice 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.


	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice 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 statement of financial position date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

	Foreign currency translation
	Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

	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.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					2		3

3	OPERATING PROFIT
	The operating profit is stated after charging:					31.03.2025		31.03.2024

	Depreciation - owned assets					29,704		28,458


4	TAXATION
	Analysis of the tax charge
	The tax charge on the profit for the year was as follows:					31.03.2025		31.03.2024

	Current tax:
	UK corporation tax					61,489		69,874
	Tax on profit					61,489		69,874


5	Intangible fixed assets							£
	Intangible Assets Under Development

	Cost
	At 1 April 2024							-
	Additions							525,032
	Disposals							-
	At 31 March 2025							525,032

	Net book value
	At 31 March 2025							525,032
	At 31 March 2024							-


6	Tangible fixed assets
		Electrical fittings		Furniture & Fixtures		Office Equipment		Improvements to LeaseHold	Plant and machinery	Total
£			£		£		£
	Cost
	At 1 April 2024	9,962		14,150		9,103		5,541	73,787	112,543
	Additions	-		-		-		-	1,017	1,017
	revaluation	(430)		1,934		2,306		(239)	- 6,156	(2,585)
	At 31 March 2025	9,532		16,084		11,409		5,302	68,648	110,975

	Depreciation
	At 1 April 2024	4,271		7,016		3,023		2,218	47,303	63,831
	Charge for the year	1,949		3,420		1,025		3,306	20,004	29,704
	revaluation	(226)		2,168		(96)		(223)	- 4,694	(3,071)
	At 31 March 2025	5,994		12,604		3,952		5,301	62,613	90,464

	Net book value
	At 31 March 2025	3,538		3,480		7,457		1	6,035	20,511
	At 31 March 2024	5,691		7,134		6,080		3,323	26,484	48,712


6	STOCKS					31.03.2025		31.03.2024
	Work -in-progress					297,803		905,454


7	Debtors					2025		2024
£							£

	Trade debtors					1,296,966		1,194,724
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					2,939,513		3,124,883
	Other debtors					641,330		762,201
						4,877,809		5,081,808

8	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					690,450		888,147
	Trade creditors					128,606		59,844
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					1,262,712		1,373,436
	Taxation and social security costs					315,557		301,687
	Other creditors					29,528		45,840
						2,426,853		2,668,954


9	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					442,044		642,823
						442,044		642,823




10	Loans					2025		2024
£							£
	An analysis of the maturity of loans is given below:
	Amounts falling due within one year or on demand : Bank overdrafts					690,450		888,147
						690,450		888,147


11	Secured bank loans					-		-
	The following secured debts are included within creditors:
	Bank overdrafts					690,450		888,147
	Bank Loan					442,044		642,823
						1,132,494		1,530,970

	The bank loan and overdraft is secured over the company assets as well as personal Guarantees from directors.


12	Related party transactions
	The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. The balance due from Katalyst Software Services Limited company as at 31st March 2025 is £536,296. (2024 Due from £290,086). These transactions were carried out under normal commercial terms. The balance due to Nova Techset limited, India as at the balance sheet date was £1,262,712. (2024 -Due to £941,856). These charges were paid under normal commercial terms. Katalyst Technologies Inc is an US registered Corporation and related to Nova Techset Ltd by way of common Holding company. The balance due from this company as at the close of business on 31st March 2025 was £2,403,217. (2024-£2,403,217). There is no interest charged on this outstanding balance. There is no transaction during the financial year.