Company No: 04803432 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mr B Fearns
	Mr S Landers

REGISTERED OFFICE	Westgate House
	44 Hale Road
	Altrincham
	WA14 2EX
	United Kingdom

COMPANY NUMBER

04803432 (England and Wales)

ACCOUNTANT	AAB
	Carlyle House
	78 Chorley New Road
	Bolton

	Note	30.06.2025		31.12.2023
		£		£
Fixed assets
Tangible assets	3	18,183		47,754
Investments	4	4,000,180		180
		4,018,363		47,934
Current assets
Stocks	5	48,221		1,165,709
Debtors	6	1,538,288		1,269,513
Cash at bank and in hand	7	16,918		9,574
		1,603,427		2,444,796
Creditors: amounts falling due within one year	8	( 1,891,896)		( 1,349,368)
Net current (liabilities)/assets		(288,469)		1,095,428
Total assets less current liabilities		3,729,894		1,143,362
Creditors: amounts falling due after more than one year	9	( 390,081)		( 93,139)
Net assets		3,339,813		1,050,223
Capital and reserves
Called-up share capital		10		10
Profit and loss account		3,339,803		1,050,213
Total shareholders' funds		3,339,813		1,050,223

For the financial period ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Novo Property Group Limited (registered number: 04803432) were approved and authorised for issue by the Board of Directors on 29 May 2026. They were signed on its behalf by:

Mr B Fearns Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Novo Property Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Westgate House, 44 Hale Road, Altrincham, WA14 2EX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

Reporting period length is an 18 month period from 1 January 2024 to 30 June 2025. Consequently, the comparative amounts presented in the Profit and Loss Account, Balance Sheet, and the related notes cover the preceding 12-month period to 31 December 2024 and are therefore not entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	5 years straight line
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2. Employees

	Period from 01.01.2024 to 30.06.2025		Year ended 31.12.2023
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	28		25

3. Tangible assets

	Vehicles		Office equipment		Total
	£		£		£
Cost
At 01 January 2024	46,825		71,073		117,898
At 30 June 2025	46,825		71,073		117,898
Accumulated depreciation
At 01 January 2024	18,904		51,240		70,144
Charge for the financial period	14,048		15,523		29,571
At 30 June 2025	32,952		66,763		99,715
Net book value
At 30 June 2025	13,873		4,310		18,183
At 31 December 2023	27,921		19,833		47,754

4. Fixed asset investments

	30.06.2025		31.12.2023
	£		£
Subsidiary undertakings	180		180
Participating interests	4,000,000		0
	4,000,180		180

5. Stocks

	30.06.2025		31.12.2023
	£		£
Work in progress	48,221		1,165,709

6. Debtors

	30.06.2025		31.12.2023
	£		£
Trade debtors	679,974		683,172
Amounts owed by fellow subsidiaries	452,962		1,516
Other debtors	405,352		584,825
	1,538,288		1,269,513

7. Cash and cash equivalents

	30.06.2025		31.12.2023
	£		£
Cash at bank and in hand	16,918		9,574

8. Creditors: amounts falling due within one year

	30.06.2025		31.12.2023
	£		£
Bank loans	350,143		50,000
Trade creditors	350,417		554,544
Amounts owed to associates	0		524
Taxation and social security	43,251		305,884
Obligations under finance leases and hire purchase contracts	10,500		6,761
Other creditors	1,137,585		431,655
	1,891,896		1,349,368

9. Creditors: amounts falling due after more than one year

	30.06.2025		31.12.2023
	£		£
Bank loans	390,081		79,258
Obligations under finance leases and hire purchase contracts	0		13,881
	390,081		93,139

There are no amounts included above in respect of which any security has been given by the small entity.