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Company Registration No. 03858005 (England and Wales)
Novus Networks Limited Unaudited accounts for the year ended 30 June 2025
Novus Networks Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Novus Networks Limited Company Information for the year ended 30 June 2025
Director
D C W Allison
Company Number
03858005 (England and Wales)
Registered Office
The Old Corn Mill Macclesfield Road Siddington, Macclesfield Cheshire SK11 9JR
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Novus Networks Limited Statement of financial position as at 30 June 2025
2025
2024
Notes
£
£
Current assets
Inventories
56,090
171,463
Debtors
4
502,764
338,000
Cash at bank and in hand
15,630
42,324
574,484
551,787
Creditors: amounts falling due within one year
5
(1,601,307)
(913,230)
Net current liabilities
(1,026,823)
(361,443)
Total assets less current liabilities
(1,026,823)
(361,443)
Creditors: amounts falling due after more than one year
6
-
(64,167)
Net liabilities
(1,026,823)
(425,610)
Capital and reserves
Called up share capital
7
16,927
16,927
Share premium
235
235
Profit and loss account
(1,043,985)
(442,772)
Shareholders' funds
(1,026,823)
(425,610)
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 March 2026 and were signed on its behalf by
D C W Allison Director Company Registration No. 03858005
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Novus Networks Limited Notes to the Accounts for the year ended 30 June 2025
1
Statutory information
Novus Networks Limited is a private company, limited by shares, registered in England and Wales, registration number 03858005. The registered office is The Old Corn Mill, Macclesfield Road, Siddington, Macclesfield, Cheshire, SK11 9JR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
The company derives its revenue from the sale of computer hardware, installation services and support services. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the group and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Sale of goods Turnover from the sale of goods is recognised when all of the following conditions are satisfied: The group has transferred the significant risks and rewards of ownership to the buyer; The group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; The amount of turnover can be measured reliably; It is probable that the group will receive the consideration due under the transaction; and The costs incurred or to be incurred in respect of the transaction can be measured reliably. Turnover on hardware sales is recognised when outside customers have taken delivery of and accepted liability for the goods supplied. Rendering of services Turnover from installation services is recognised on completion of installation of hardware. Turnover for support services is recognised on a straight line basis over the contract period in which the service is provided. Amounts invoiced relating to more than one year are deferred in the statement of financial position and recognised in the relevant period. The related costs are recognised as they occur.
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Novus Networks Limited Notes to the Accounts for the year ended 30 June 2025
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Foreign currencies
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
The group has well-established and flexible financial resources, established customer base and mainly profitable history through its main trading entity. As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being 12 months from the date of sign off on these accounts. At the statement of financial position date the company has a deficit on its profit and loss reserve, it is anticipated that future profits will return this to a surplus. Accordingly, the directors continue to adopt the going concern basis in preparing the annual report and financial statements.
4
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
-
81,566
Trade debtors
487,861
202,906
Accrued income and prepayments
14,338
50,680
Other debtors
565
2,848
502,764
338,000
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
64,167
70,000
VAT
44,357
-
Trade creditors
288,199
21,494
Amounts owed to group undertakings and other participating interests
635,005
611,784
Taxes and social security
44,676
118
Other creditors
2,844
-
Accruals
25,053
1,764
Deferred income
497,006
208,070
1,601,307
913,230
The bank loan was issued under the Corona-virus Business Interruption Loan Scheme and is secured by a debenture over the assets of the company.
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Novus Networks Limited Notes to the Accounts for the year ended 30 June 2025
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
-
64,167
The bank loan was issued under the Corona-virus Business Interruption Loan Scheme and is secured by a debenture over the assets of the company.
7
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
16,840 A Ordinary Shares of £1 each
16,840
16,840
840 B Ordinary Shares of £0.10 each
84
84
16,927
16,927
8
Transactions with related parties
The company has taken advantage of the exemptions conferred by FRS 102 allowing it not to disclose any transactions with other members of the group that are 100% owned.
9
Controlling party
The company is 100% owned by Novus Group Limited, The Old Corn Mill, Congleton Road, Siddington, Macclesfield, Cheshire SK11 9JR. A company registered in England and Wales under company number 04153811.
10
Average number of employees
During the year the average number of employees was 30 (2024: 34).
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