REGISTERED NUMBER: 08848342 (England and Wales)

Novagas (LPG) Limited

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J F Rose

Mrs L J K Rose

Mr A B Rose

REGISTERED OFFICE:

High Street

Buxted

Uckfield

East Sussex

TN22 4LA

REGISTERED NUMBER:

08848342 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

975,060

1,052,207

975,060

1,052,207

CURRENT ASSETS

Stocks

66,947

104,710

Debtors

6

663,328

553,016

Cash at bank and in hand

1,130,671

1,036,578

1,860,946

1,694,304

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

199,797

212,925

NET CURRENT ASSETS

1,661,149

1,481,379

TOTAL ASSETS LESS CURRENT LIABILITIES

2,636,209

2,533,586

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

8

-

(13,774

)

PROVISIONS FOR LIABILITIES

(235,566

)

(255,669

)

NET ASSETS

2,400,643

2,264,143

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

2,400,543

2,264,043

SHAREHOLDERS' FUNDS

2,400,643

2,264,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 December 2025 and were signed on its behalf by:

Mr J F Rose - Director

1.	STATUTORY INFORMATION

Novagas (LPG) 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.

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.

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 value added tax, returns, rebates and discounts

The company recognises revenue when the amount can be reliably measured, it is probable that future economic benefits will flow to the company and specific criteria have been met for each of the company's activities.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten 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.

Plant and machinery

-

25% on reducing balance

Gas cylinders, fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 14 (2024 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

220,042

AMORTISATION

At 1 April 2024

and 31 March 2025

220,042

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Gas

cylinders,

fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

8,262

453,939

1,165,380

Additions

7,093

29,265

57,715

At 31 March 2025

15,355

483,204

1,223,095

DEPRECIATION

At 1 April 2024

-

312,472

402,714

Charge for year

-

55,657

82,037

At 31 March 2025

-

368,129

484,751

NET BOOK VALUE

At 31 March 2025

15,355

115,075

738,344

At 31 March 2024

8,262

141,467

762,666

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

438,431

24,831

2,090,843

Additions

-

479

94,552

At 31 March 2025

438,431

25,310

2,185,395

DEPRECIATION

At 1 April 2024

308,840

14,610

1,038,636

Charge for year

32,398

1,607

171,699

At 31 March 2025

341,238

16,217

1,210,335

NET BOOK VALUE

At 31 March 2025

97,193

9,093

975,060

At 31 March 2024

129,591

10,221

1,052,207

At the balance sheet date there were tangible fixed assets under hire purchase agreements with net book value of £51,110 (2024 - £54,102).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

202,046

159,198

Other debtors

461,282

393,818

663,328

553,016

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

13,774

40,328

Trade creditors

86,506

59,192

Taxation and social security

91,922

107,658

Other creditors

7,595

5,747

199,797

212,925

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

-

13,774

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

13,774

54,102

The loans in respect of the hire purchase agreements are secured against the assets to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr J F Rose

Balance outstanding at start of year

(168,037

)

(111,285

)

Amounts repaid

(58,359

)

(56,752

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(226,396

)

(168,037

)

Interest was charged on this loan at a rate of 2.25% during the year totalling £4,359 (2024 - £2,752). This loan is unsecured and repayable on demand.

12.	RELATED PARTY DISCLOSURES

During the year, Novagas (LPG) Limited was owed, in aggregate, £96,059 (2024: £102,801) from companies with common directors and ownership. These loans are interest free, unsecured and repayable on demand.