Nova Design Associates Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05934024 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 30 September 2014

for

Nova Design Associates Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

G Insalaco

I Collu

REGISTERED OFFICE:

161 Lancaster Road

Enfield

Middlesex

EN2 0JN

REGISTERED NUMBER:

05934024 (England and Wales)

ACCOUNTANTS:

Lee Christian & Co Ltd

Chartered Certified Accountants

161 Lancaster Road

Enfield

Middlesex

EN2 0JN

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to seven)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Nova Design Associates Limited for the year ended 30 September 2014 which comprise the

Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and

other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Nova Design Associates Limited, as a body, in accordance with

our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Nova Design Associates Limited and state those matters that we have agreed to state to the Board of Directors of Nova

Design Associates Limited, as a body, in this report in accordance with the requirements of the Association of Chartered

Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we

do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our

work or for this report.

It is your duty to ensure that Nova Design Associates Limited has kept adequate accounting records and to prepare

statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nova

Design Associates Limited. You consider that Nova Design Associates Limited is exempt from the statutory audit

requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Nova Design Associates

Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lee Christian & Co Ltd

Chartered Certified Accountants

161 Lancaster Road

Enfield

Middlesex

EN2 0JN

11 April 2015

FIXED ASSETS

Intangible assets

2

21,330

23,108

Tangible assets

3

15,704

8,139

37,034

31,247

CURRENT ASSETS

Stocks

2,250

1,650

Debtors

222,415

190,516

Cash at bank and in hand

214,712

195,142

439,377

387,308

CREDITORS

Amounts falling due within one year

165,980

202,528

NET CURRENT ASSETS

273,397

184,780

TOTAL ASSETS LESS CURRENT LIABILITIES

310,431

216,027

PROVISIONS FOR LIABILITIES

2,783

1,102

NET ASSETS

307,648

214,925

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

307,548

214,825

SHAREHOLDERS' FUNDS

307,648

214,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 11 April 2015 and were signed on its behalf by:

G Insalaco - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures, fittings & equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax arises as a result of the inclusion of income and expenditure in the taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more/(less) tax at a future date, at the average rates of tax

that are expected to apply when the timing differences reverse, based on laws and tax rates currently in force.

The deferred tax thus calculated, is measured on a non-discounted basis.

Deferred tax is not provided on timing differences which arise from the revaluation of fixed assets provided there

is no commitment to sell the relevant assets.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

and 30 September 2014

35,554

AMORTISATION

At 1 October 2013

12,446

Amortisation for year

1,778

At 30 September 2014

14,224

NET BOOK VALUE

At 30 September 2014

21,330

At 30 September 2013

23,108

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2013

27,856

Additions

12,523

Disposals

(3,150

)

At 30 September 2014

37,229

DEPRECIATION

At 1 October 2013

19,717

Charge for year

3,926

Eliminated on disposal

(2,118

)

At 30 September 2014

21,525

NET BOOK VALUE

At 30 September 2014

15,704

At 30 September 2013

8,139

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2014 and

30 September 2013:

2014

2013

£

£

I Collu

Balance outstanding at start of year

-

-

Amounts advanced

79,639

26,230

Amounts repaid

-

(26,230

)

Balance outstanding at end of year

79,639

-

G Insalaco

Balance outstanding at start of year

-

-

Amounts advanced

79,639

26,230

Amounts repaid

-

(26,230

)

Balance outstanding at end of year

79,639

-

Interest has been charged on these loans by the company at the average official rate of interest.

6.	PARTICULARS OF A MORTGAGE OR CHARGE

There is a charge on company by the landlord Miltre Bridge Partnership Limited in respect of any future non

compliance of the company's obligation to the landlord.