Nova Holdings (Bristol) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04063939 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2022

for

NOVA HOLDINGS (BRISTOL) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M H Perren

D Perren

T Perren

S Perren

REGISTERED OFFICE:

Unit 1 Commercial Buildings

Beanwood Farm

Shorthill Road

Westerleigh

Bristol

BS37 8QN

REGISTERED NUMBER:

04063939 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

43,601

-

Investments

5

4,050

4,050

47,651

4,050

CURRENT ASSETS

Debtors

6

155,875

100,100

Cash at bank

381,992

599,730

537,867

699,830

CREDITORS

Amounts falling due within one year

7

(12,722

)

(14,843

)

NET CURRENT ASSETS

525,145

684,987

TOTAL ASSETS LESS CURRENT LIABILITIES

572,796

689,037

PROVISIONS FOR LIABILITIES

(8,284

)

-

NET ASSETS

564,512

689,037

CAPITAL AND RESERVES

Called up share capital

8

375

375

Capital redemption reserve

3,375

3,375

Retained earnings

560,762

685,287

564,512

689,037

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 1 November 2022 and were signed on its behalf by:

R P Franks - Director

1.	COMPANY INFORMATION

Nova Holdings (Bristol) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that despite the adverse effects COVID-19 is having on both the company and the economy as a whole, the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reviewed relevant information and has considered possible measures that could be undertaken to mitigate the current adverse conditions. Based on this assessment and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Tangible fixed assets

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

Motor vehicles - 25% on reducing balance

Government grants

Government grants are recognised in the profit and loss account over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Those grants which become receivable as compensation for expenses or losses already incurred or for the

purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Preparation of consolidated financial statements

The financial statements contain information about Nova Holdings (Bristol) Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Investments

Investments relate to unlisted holdings and are shown at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

Additions

58,135

At 30 April 2022

58,135

DEPRECIATION

Charge for year

14,534

At 30 April 2022

14,534

NET BOOK VALUE

At 30 April 2022

43,601

5.	FIXED ASSET INVESTMENTS

Shares in

unlisted

investments

£

COST

At 1 May 2021

and 30 April 2022

4,050

NET BOOK VALUE

At 30 April 2022

4,050

At 30 April 2021

4,050

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed by group undertakings

150,000

100,000

Other debtors

15

100

Corporation tax

5,295

-

Prepayments and accrued income

565

-

155,875

100,100

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

108

-

Corporation tax

-

5,295

Social security and other taxes

336

248

VAT

9,163

6,800

Other creditors

615

-

Accruals and deferred income

2,500

2,500

12,722

14,843

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class:

Nominal

2021

2020

value:

£

£

1,825 Ordinary 'A' shares

10p

183

183

1,525 Ordinary 'B' shares

10p

152

152

200 Ordinary 'D' shares

10p

20

20

200 Ordinary 'E' shares

10p

20

20

375

375