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Unaudited Financial Statements |
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for the Year Ended 30 June 2019 |
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for |
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Noveum Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 June 2019 |
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for |
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Noveum Limited |
Noveum Limited (Registered number: 10816022) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2019 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Noveum Limited |
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Company Information |
for the Year Ended 30 June 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Noveum Limited (Registered number: 10816022) |
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Statement of Financial Position |
30 June 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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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. |
Noveum Limited (Registered number: 10816022) |
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Statement of Financial Position - continued |
30 June 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved and authorised for issue by the Board of Directors on
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Noveum Limited (Registered number: 10816022) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2019 |
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1. | STATUTORY INFORMATION |
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Noveum Limited is a
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company's registered number and registered office address can be found on the Company |
Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements cover the company as an individual entity, have been prepared under the |
historical cost convention and are presented in Pounds Sterling (£) being the functional currency. |
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The financial statements have been prepared on the assumption that the company is able to carry |
on business as a going concern, which the directors consider appropriate having regard to the |
company's current and expected performance. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Intangible assets |
Website costs are being amortised over 3 years in order to write off the asset over it's estimated |
useful life. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in |
non-convertible preference and non-puttable ordinary shares which are measured at fair value, with |
changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost |
and thereafter at fair value with changes recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax, if applicable. Tax is recognised in the |
Statement of Income and Retained Earnings, except to the extent that it relates to items recognised |
in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
Noveum Limited (Registered number: 10816022) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2019 |
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3. | ACCOUNTING POLICIES - continued |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Website |
£ |
COST |
At 1 July 2018 |
and 30 June 2019 |
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AMORTISATION |
At 1 July 2018 |
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Amortisation for year |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2018 |
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Additions |
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Disposals | ( |
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At 30 June 2019 |
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DEPRECIATION |
At 1 July 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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Noveum Limited (Registered number: 10816022) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2019 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
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Between one and five years |
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Total lease payments recognised as an expense during the period amounted to £15,700 (2018 - |
£14,392). |
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10. | RELATED PARTY DISCLOSURES |
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During the year, the company received a £30,000 interest free loan from Lymm Properties Limited, |
a company in which two of the directors had a participating interest. The balance outstanding at |
the year end was £30,000. |
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11. | PENSION COMMITMENTS |
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The company operates a defined contribution pension scheme. The assets of the scheme are held |
separately from those of the company in an independently administered fund. The pension cost |
charge represents contributions payable by the company to the fund and amounted to £35,475 |
(2018 - £24,425). Contributions totalling £4,671 (2018 - £2,779) were payable to the fund at the |
balance sheet date and are included in creditors. |