Company Registration No. 06798668 (England and Wales)
NOVA OUTDOOR SOLUTIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
NOVA OUTDOOR SOLUTIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
NOVA OUTDOOR SOLUTIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
49,226
58,246
Current assets
Debtors
19,131
24,074
Cash at bank and in hand
114,348
67,023
133,479
91,097
Creditors: amounts falling due within one year
(70,331)
(68,771)
Net current assets
63,148
22,326
Total assets less current liabilities
112,374
80,572
Provisions for liabilities
(9,845)
(12,151)
102,529
68,421
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
102,429
68,321
Shareholders' funds
102,529
68,421
For the financial year ended 31 January 2016 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 27 October 2016
Mr C E Creak
Mr B R Hall
Director
Director
Company Registration No. 06798668
NOVA OUTDOOR SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 2 -
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 January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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
15% reducing balance
Computer equipment
25% reducing balance
Fixtures, fittings and equipment
25% reducing balance
Motor vehicles
20% reducing balance
1.4
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NOVA OUTDOOR SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015
99,379
Additions
9,533
Disposals
(9,300)
At 31 January 2016
99,612
Depreciation
At 1 February 2015
41,133
On disposals
(1,860)
Charge for the year
11,113
At 31 January 2016
50,386
Net book value
At 31 January 2016
49,226
At 31 January 2015
58,246
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100