REGISTERED NUMBER: 03599526 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Novatel Systems Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

Mr I G Gray

Mrs A E Gray

SECRETARY:

Mr I G Gray

REGISTERED OFFICE:

Suite 1

Concept House

23 Billet Lane

Hornchurch

Essex

RM11 1XP

REGISTERED NUMBER:

03599526 (England and Wales)

ACCOUNTANTS:

Havard & Associates

Suite 1

Concept House

23 Billet Lane

Hornchurch

Essex

RM11 1XP

FIXED ASSETS

Tangible assets

4

2,391

3,590

CURRENT ASSETS

Debtors

5

61,315

100,919

Cash at bank

156,132

208,513

217,447

309,432

CREDITORS

Amounts falling due within one year

6

41,599

87,715

NET CURRENT ASSETS

175,848

221,717

TOTAL ASSETS LESS CURRENT LIABILITIES

178,239

225,307

CREDITORS

Amounts falling due after more than one year

7

(1,551

)

-

PROVISIONS FOR LIABILITIES

(484

)

(682

)

NET ASSETS

176,204

224,625

CAPITAL AND RESERVES

Called up share capital

8

10

10

Retained earnings

176,194

224,615

SHAREHOLDERS' FUNDS

176,204

224,625

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2026 and were signed on its behalf by:

Mr I G Gray - Director

1.	STATUTORY INFORMATION

Novatel Systems 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

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 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 rates in order to write off each asset over its estimated useful life:

Fixtures & fittings - 20% reducing value.

Computer equipment - 33.33% straight line.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

16,136

Additions

907

Disposals

(6,079

)

At 31 December 2025

10,964

DEPRECIATION

At 1 January 2025

12,546

Charge for year

1,952

Eliminated on disposal

(5,925

)

At 31 December 2025

8,573

NET BOOK VALUE

At 31 December 2025

2,391

At 31 December 2024

3,590

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

35,394

52,070

Other debtors

25,921

48,849

61,315

100,919

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

690

2,167

Taxation and social security

29,217

78,966

Other creditors

11,692

6,582

41,599

87,715

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Other creditors

1,551

-

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

10

Share capital 1

£1

10

10