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REGISTERED NUMBER: 07960388 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2018

for

De Coverly Limited

De Coverly Limited (Registered number: 07960388)






Contents of the Financial Statements
for the Year Ended 31 MARCH 2018




Page

Balance Sheet 1

Notes to the Financial Statements 2


De Coverly Limited (Registered number: 07960388)

Balance Sheet
31 MARCH 2018

31.3.18 31.3.17
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,524 4,458

CURRENT ASSETS
Debtors 5 38,010 58,361
Cash at bank 136,868 98,943
174,878 157,304
CREDITORS
Amounts falling due within one year 6 (62,346 ) (81,936 )
NET CURRENT ASSETS 112,532 75,368
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,056

79,826

PROVISIONS FOR LIABILITIES (737 ) (737 )
NET ASSETS 116,319 79,089

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 116,219 78,989
SHAREHOLDERS' FUNDS 116,319 79,089

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 19 October 2018 and were signed on its
behalf by:



Dr D M Veale - Director


De Coverly Limited (Registered number: 07960388)

Notes to the Financial Statements
for the Year Ended 31 MARCH 2018

1. STATUTORY INFORMATION

De Coverly Limited is a private company, limited by shares, registered in England and wales,
registration number 07960388. The registered office is Trojan House, 34 Arcadia Avenue, London N3
2 JU.

The presentation currency of the financial statements is the pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

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 - 25% on cost
Computer equipment - 33% on cost

Financial instruments
The company has entered into basic financial instruments and transactions that result in the
recognition of financial assets and liabilities like other debtors, creditors and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each
reporting period for objective evidence of impairment. If objective evidence of impairment is fund, an
impairment loss is recognised in the profit and loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

De Coverly Limited (Registered number: 07960388)

Notes to the Financial Statements - continued
for the Year Ended 31 MARCH 2018

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2017 4,986 12,627 17,613
Additions 761 2,703 3,464
At 31 March 2018 5,747 15,330 21,077
DEPRECIATION
At 1 April 2017 2,107 11,048 13,155
Charge for year 1,436 1,962 3,398
At 31 March 2018 3,543 13,010 16,553
NET BOOK VALUE
At 31 March 2018 2,204 2,320 4,524
At 31 March 2017 2,879 1,579 4,458

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade debtors 9,890 33,661
Other debtors 28,120 24,700
38,010 58,361

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade creditors - 13
Taxation and social security 55,637 66,323
Other creditors 6,709 15,600
62,346 81,936

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.18 31.3.17
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 April 2017 78,989
Profit for the year 237,230
Dividends (200,000 )
At 31 March 2018 116,219

De Coverly Limited (Registered number: 07960388)

Notes to the Financial Statements - continued
for the Year Ended 31 MARCH 2018

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2018 and
31 March 2017:

31.3.18 31.3.17
£    £   
Dr D M Veale
Balance outstanding at start of year (325 ) (5,368 )
Amounts advanced 140,732 163,030
Amounts repaid (141,572 ) (157,987 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,165 ) (325 )

Ms E C J Nicholson
Balance outstanding at start of year (4,000 ) (1,250 )
Amounts advanced 54,000 53,500
Amounts repaid (50,000 ) (56,250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (4,000 )

10. RELATED PARTY DISCLOSURES

Rebecca J Veale and Camilla G Veale, daughters of the directors of the company.

D M Veale was voted a dividend of £130,000 (2017: £146,250) and E Nicholson voted a dividend of
£50,000 (2017: 56,250) during the year.

Rebecca J Veale and Camilla G Veale was voted a dividend of £10,000 (2017:£11,250) each during
the year.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D M Veale by virtue of his shareholdings.