Company Registration No. 03007228 (England and Wales)
NOVA INDUSTRIES LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2015
NOVA INDUSTRIES LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
NOVA INDUSTRIES LTD
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2015
31 January 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
417
1,542
Current assets
Debtors
3,662
4,325
Cash at bank and in hand
16,023
10,101
19,685
14,426
Creditors: amounts falling due within one year
3
(19,923)
(33,509)
Net current liabilities
(238)
(19,083)
Total assets less current liabilities
179
(17,541)
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
79
(17,641)
Shareholders' funds
179
(17,541)
NOVA INDUSTRIES LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2015
31 January 2015
- 2 -
For the financial year ended 31 January 2015 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 year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 October 2015
Mr L P J Collins
Mrs R M Y Collins
Director
Director
Company Registration No. 03007228
NOVA INDUSTRIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). At the balance sheet date the company had net liabilities of £238 (2014 £19,083). The directors are of the opinion that they intend to assist and meet the company's day to day working capital requirements and offer their support. On this basis the directors consider it appropriate that the financial statements are prepared on a going concern basis.
At the balance sheet date the company had net liabilities of £238 (2014 £19,083). The directors are of the opinion that they intend to assist and meet the company's day to day working capital requirements and offer their support. On this basis the directors consider it appropriate that the financial statements are prepared on a going concern basis.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% on cost
Fixtures, fittings & equipment
25% on cost
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2014 & at 31 January 2015
145,976
Depreciation
At 1 February 2014
144,434
Charge for the year
1,125
At 31 January 2015
145,559
Net book value
At 31 January 2015
417
At 31 January 2014
1,542
3
Creditors: amounts falling due within one year
Included in Creditors: amounts falling due within one year are amounts due to the directors of £10,633 (2014 £12,744).
NOVA INDUSTRIES LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2015
- 4 -
4
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100