REGISTERED NUMBER: 10119007 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Novacoast Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P A Anderson

A Gray

Novacoast Holding

Novacoast, Inc.

W Laughlin

SECRETARY:

Casered Ltd

REGISTERED OFFICE:

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

REGISTERED NUMBER:

10119007 (England and Wales)

AUDITORS:

Bennett Kirkhope Smith Ltd

Chartered Certified Accountants

and Statutory Auditors

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

FIXED ASSETS

Tangible assets

4

386,537

217,271

CURRENT ASSETS

Debtors

5

890,901

1,314,371

Cash at bank

433,226

35,401

1,324,127

1,349,772

CREDITORS

Amounts falling due within one year

6

909,839

871,361

NET CURRENT ASSETS

414,288

478,411

TOTAL ASSETS LESS CURRENT LIABILITIES

800,825

695,682

PROVISIONS FOR LIABILITIES

(46,775

)

(38,476

)

ACCRUALS AND DEFERRED INCOME

(546,099

)

(515,685

)

NET ASSETS

207,951

141,521

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

207,950

141,520

207,951

141,521

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2025 and were signed on its behalf by:

W Laughlin - Director

1.	STATUTORY INFORMATION

Novacoast 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

The directors have at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The holding company has pledged it's financial support if necessary.

Going Concern

The view of the directors is that the Company has been able to continue its trading activities and with support of the parent has sufficient resources available to meet its liabilities as they fall due.

In reaching this conclusion, the directors have considered the financial position of both the Company and the group, Novacoast Inc, at the date of the approval of the financial statements.

Turnover

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

Tangible fixed assets

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

Improvements to property

-

Over the term of the lease

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 40 (2023 - 42 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

184,473

32,903

108,442

325,818

Additions

161,162

18,978

26,985

207,125

Disposals

-

-

(18,064

)

(18,064

)

At 31 December 2024

345,635

51,881

117,363

514,879

DEPRECIATION

At 1 January 2024

10,762

18,907

78,878

108,547

Charge for year

23,515

4,513

9,831

37,859

Eliminated on disposal

-

-

(18,064

)

(18,064

)

At 31 December 2024

34,277

23,420

70,645

128,342

NET BOOK VALUE

At 31 December 2024

311,358

28,461

46,718

386,537

At 31 December 2023

173,711

13,996

29,564

217,271

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

628,286

503,111

Amounts owed by group undertakings

130,418

633,238

Other debtors

-

20,869

VAT

-

34,467

Prepayments

132,197

122,686

890,901

1,314,371

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

236,637

486,734

Amounts owed to group undertakings

208,031

-

Corporation tax

15,801

6,227

Social security and other taxes

75,830

86,430

VAT

10,187

-

Accrued expenses

363,353

291,970

909,839

871,361

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

The Report of the Auditors was unqualified.

Alice Mary Smith (Senior Statutory Auditor)

for and on behalf of Bennett Kirkhope Smith Ltd

8.	OTHER FINANCIAL COMMITMENTS

At 31 December 2024 the company had total commitments under non-cancellable operating leases over the life of those leases of £1,643,400 (2023 - £1,840,608).

9.	ULTIMATE PARENT UNDERTAKING