NOVIKA LIMITED Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 10967174

NOVIKA LIMITED

Filleted Unaudited Financial Statements

30 September 2018

NOVIKA LIMITED

Statement of Financial Position

30 September 2018

	2018
Note	£	£

Current assets

Stocks		825,739
Debtors	4	52,870
Cash at bank and in hand		52,220
		---------
		930,829

Creditors: amounts falling due within one year	5	180,433
		---------
Net current assets			750,396
			---------
Total assets less current liabilities			750,396

Creditors: amounts falling due after more than one year	6	847,235
		---------
Net liabilities		( 96,839)
		---------

Capital and reserves

Called up share capital		1
Profit and loss account		( 96,840)
		--------
Shareholders deficit		( 96,839)
		--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

NOVIKA LIMITED

Statement of Financial Position (continued)

30 September 2018

These financial statements were approved by the board of directors and authorised for issue on 13 December 2019 , and are signed on behalf of the board by:

Mr M L Waldman
Director

Company registration number: 10967174

NOVIKA LIMITED

Notes to the Financial Statements

Year ended 30 September 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, NW11 0DH, London.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2016. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

4. Debtors

	2018
	£
Other debtors	52,870
	--------

5. Creditors: amounts falling due within one year

	2018
	£
Trade creditors	2,437
Other creditors	177,996
	---------
	180,433
	---------

6. Creditors: amounts falling due after more than one year

	2018
	£
Bank loans and overdrafts	847,235
	---------

7. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 October 2016.

No transitional adjustments were required in equity or profit or loss for the year.