Novus Biomass Limited - Period Ending 2016-09-30

Registration number: 08845388

Novus Biomass Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Novus Biomass Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Novus Biomass Limited
(Registration number: 08845388)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					155,767			173,074
Current assets
Debtors					12,497			42,166
Cash at bank and in hand					82,429			21,744
					94,926			63,910
Creditors: Amounts falling due within one year					(99,916)			(8,736)
Net current (liabilities)/assets					(4,990)			55,174
Total assets less current liabilities					150,777			228,248
Creditors: Amounts falling due after more than one year					-			(96,216)
Net assets					150,777			132,032
Capital and reserves
Called up share capital		3			160,200			160,200
Profit and loss account					(9,423)			(28,168)
Shareholders' funds					150,777			132,032

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 20 June 2017 and signed on its behalf by:

.........................................
Mr Stephen Paul Beaumont
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Novus Biomass Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the income derived from the sale of biomass fuel and renewable heat incentive

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Biomass Units	10% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		213,671			213,671
At 30 September 2016		213,671			213,671
Depreciation
At 1 October 2015		40,597			40,597
Charge for the year		17,307			17,307
At 30 September 2016		57,904			57,904
Net book value
At 30 September 2016		155,767			155,767
At 30 September 2015		173,074			173,074

Page 2

Novus Biomass Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A shares of £1 each		200			200			200			200
Series A preference shares of £1 each		80,000			80,000			80,000			80,000
Series B preference shares of £1 each		80,000			80,000			80,000			80,000
		160,200			160,200			160,200			160,200

Redeemable preference shares

The Series A preference shares are redeemable at the option of the company. They are redeemable at £1 per share and carry no voting rights.

The Series B preference shares are redeemable at the option of the company. They are redeemable at £1 per share and carry no voting rights.

Page 3