Nova Design Associates Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05934024 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 30 September 2016

for

Nova Design Associates Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTOR:

G Insalaco

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 director 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 2016 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://www.accaglobal.com/rulebook.

This report is made solely to the director of Nova Design Associates Limited 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 director of Nova Design Associates Limited 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 director 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

23 June 2017

FIXED ASSETS

Intangible assets

2

17,774

19,552

Tangible assets

3

13,652

3,809

31,426

23,361

CURRENT ASSETS

Stocks

1,750

2,250

Debtors

139,077

99,633

Cash at bank and in hand

40,076

25,976

180,903

127,859

CREDITORS

Amounts falling due within one year

102,410

59,300

NET CURRENT ASSETS

78,493

68,559

TOTAL ASSETS LESS CURRENT
LIABILITIES

109,919

91,920

PROVISIONS FOR LIABILITIES

2,730

762

NET ASSETS

107,189

91,158

CAPITAL AND RESERVES

Called up share capital

4

50

Capital redemption reserve

50

Profit and loss account

107,089

91,058

SHAREHOLDERS' FUNDS

107,189

91,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 23 June 2017 and were signed 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 January 2015).

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 2015

and 30 September 2016

35,554

AMORTISATION

At 1 October 2015

16,002

Amortisation for year

1,778

At 30 September 2016

17,780

NET BOOK VALUE

At 30 September 2016

17,774

At 30 September 2015

19,552

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

16,646

Additions

14,732

Disposals

(10,995

)

At 30 September 2016

20,383

DEPRECIATION

At 1 October 2015

12,837

Charge for year

3,413

Eliminated on disposal

(9,519

)

At 30 September 2016

6,731

NET BOOK VALUE

At 30 September 2016

13,652

At 30 September 2015

3,809

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

50

Ordinary shares

£1

50

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2016 and

30 September 2015:

2016

2015

£

G Insalaco

Balance outstanding at start of year

-

79,639

Amounts advanced

46,407

75,067

Amounts repaid

(46,407

)

(154,706

)

Balance outstanding at end of year

-

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.