Novello Healthcare Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Novello Healthcare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13793724 . The registered office and principal place of bussiness is Regus, 120 Bark Street, Bolton, BL1 2AX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are presented in pounds sterling which is the functional currency of the Company and

rounded to the nearest £.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2.2. Going Concern Disclosure

The concept of going concern is an underlying assumption in the production of financial statements. As there are considerable net liabilities there is a question mark over going concern. Although there is no formal agreement in place, the directors have indicated they will continue to provide financial support to the company for at least 12 months from the date of these accounts

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover represents income from sourcing and placing healthcare professionals in relevant healthcare roles. Turnover is recongised when the company satisfies its performance obligations by providing the agreed services.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets relate to investment in a Robotic Process Automation technology. It is amortised to the profit and loss account over its estimated economic life of 5 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

20% Straight Line

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.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine

whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the

recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.6. Leasing and Hire Purchase Contracts

Leases which do not transfer substantially all the risks and rewards of ownership to the company are classified as operating leases.

Operating lease payments are recognised as an expense on straight-line basis over the lease term, except where

another systematic basis is more representative of the time pattern in which economic benefits from the leased

asset are consumed. Contingent rentals arising under operating leases are recognised as an expense in the period

in which they are incurred.

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Novello Healthcare Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Trade and other debtors

Trade and other debtors are initially recognised at fair value and therefore stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except for where the effect of discounting would be considered immaterial, in which case they are stated at cost less impairment losses for bad and doubtful debts.

2.9. Trade and other creditors

Trade and other creditors are initially recognised at fair value and therefore stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

2.10. Cash and cash equivalents

Cash and cash equivalents comprise of cash at bank and in hand.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 61 (2025: 105)

4. Intangible Assets

	Other Intangible Asset
	£
Cost
As at 1 April 2025	3,911
Disposals	(3,911 )

As at 31 March 2026	-

Amortisation
As at 1 April 2025	494
Provided during the period	782
Disposals	(1,276 )

As at 31 March 2026	-

Net Book Value
As at 31 March 2026	-

As at 1 April 2025	3,417

5. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 April 2025	4,216

As at 31 March 2026	4,216

...CONTINUED

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Novello Healthcare Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

Depreciation
As at 1 April 2025	632
Provided during the period	844

As at 31 March 2026	1,476

Net Book Value
As at 31 March 2026	2,740

As at 1 April 2025	3,584

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	728,094	639,563
Amounts owed by group undertakings	-	21,400
Amounts owed by participating interests	28,000	-
Other debtors	558,032	19,438

	1,314,126	680,401

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	98,959	98,617
Other creditors	919,791	893,179
Taxation and social security	543,144	183,369

	1,561,894	1,175,165

8. Secured Creditors

Included in other creditors, the following amounts are secured by way of a fixed and floating charge dated 25 September 2023 by Bibby Financial Services Ltd over the all the property or undetaking of the company.

	2026		2025
	£		£
Other Creditors	585,998		650,113

9. Share Capital

	2026	2025
Allotted, called up but not fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

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Novello Healthcare Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	11,083	-

	11,083	-

11. Related Party Transactions

Included within other creditors is a loan owing to the Director of £3,000 (2025: £13,500); this loan is interest free and repayable on demand.

Included in other debtors are amounts owed by companies owned by Mrs J Couper-Weng of £578,000 (2025: £3,000). These balances are interest free and repayable on demand.

During the year, the company incurred recharged software expenses of £27,973 (2025: £27,251) from companies owned by Mrs J Couper-Weng. At the reporting date, £1,800 (2025: £NIL) was owed to those entities.

Included in other operating income is £550,000 (2025: £NIL) management recharge to a company owned by Mrs J Couper-Weng in relation to management costs incurred by the company attributable to the related party company thus have been recharged.

During the year, the company has provided for a bad debt of £18,537 in relation to a balance due from a company owned by Mrs J Couper-Weng. The amount remians legally receivable but the balance is not expected to be recovered.

12. Ultimate Controlling Party

The company's ultimate controlling parties are the Directors by virtue their indirect joint ownership of 100% of the issued share capital in the company.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		-		3,417
Tangible Assets	5		2,740		3,584

			2,740		7,001
CURRENT ASSETS
Debtors	6	1,314,126		680,401
Cash at bank and in hand		46,740		5,295

		1,360,866		685,696
Creditors: Amounts Falling Due Within One Year	7	(1,561,894 )		(1,175,165 )

NET CURRENT ASSETS (LIABILITIES)			(201,028 )		(489,469 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(198,288 )		(482,468 )

NET LIABILITIES			(198,288 )		(482,468 )

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			(198,388 )		(482,568 )

SHAREHOLDERS' FUNDS			(198,288)		(482,468)