Nova Apparel Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12501356 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

NOVA APPAREL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

B I Member

REGISTERED OFFICE:

Caxton House

Caxton Road

Fulwood

Preston

PR2 9ZB

REGISTERED NUMBER:

12501356 (England and Wales)

AUDITORS:

Whitehead & Howarth

Statutory Auditors

327 Clifton Drive South

Lytham St Annes

Lancashire

FY8 1HN

CURRENT ASSETS

Debtors

4

1,179,432

626,550

Cash at bank

1,327,312

580,942

2,506,744

1,207,492

CREDITORS

Amounts falling due within one year

5

1,459,231

603,709

NET CURRENT ASSETS

1,047,513

603,783

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,047,513

603,783

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

1,047,512

603,782

1,047,513

603,783

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 22 December 2025 and were signed by:

B I Member - Director

1.	STATUTORY INFORMATION

Nova Apparel Limited 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.

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.

Significant judgements and estimates

The preparation of the financial statements requires the use of certain judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Changes in accounting estimates may be necessary if there are changes in the circumstances on which the estimate was based or as a result of new information or more experience.

Turnover

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

Turnover is stated net of trade discounts, volume rebates, VAT and similar taxes and derives from the provision of goods and services falling within the company's ordinary activities. Turnover on sale of goods is recognised when the company has transferred the significant risks and rewards of ownership the goods, which usually takes place when the goods are physically delivered to the buyer.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

621,183

581,434

Amounts owed by group undertakings

109,119

-

Other debtors

449,130

45,116

1,179,432

626,550

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

14,524

8,995

Amounts owed to group undertakings

-

34,928

Other creditors

1,444,707

559,786

1,459,231

603,709

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Croasdale BSc (Hons) FCA (Senior Statutory Auditor)

for and on behalf of Whitehead & Howarth

7.	RELATED PARTY DISCLOSURES

Purchases from companies within the group totalled £nil (2024 £209,516). Purchases from companies under common control totalled £21,881,663 (2024 £12,707,932). The management charge paid to group companies was £nil (2024 £nil)

Amounts due from group companies were £109,566 (2024 £34,928 due to). Amounts due to companies under common control were £1,444,707 (2024 £559,786).

In accordance with FRS 102 Section 1AC.35, exemption has been taken from disclosing any transactions with the parent company.

8.	PARENT COMPANY

Nova Apparel is a wholly owned subsidiary of Newstar Group (UK) Holdings Limited, a company incorporated in the Isle of Man whose registered office is Acclaim House, 12 Mount Havelock, Douglas, Isle of Man, IM1 2QG.

Newstar Group (UK) Holdings Limited is exempt from the requirement to prepare group accounts as it is incorporated in the Isle of Man.