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REGISTERED NUMBER: 03334785 (England and Wales)















Covenant Books (Preston)

Unaudited Financial Statements

for the Year Ended 31 March 2022






Covenant Books (Preston) (Registered number: 03334785)






Contents of the Financial Statements
for the year ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Covenant Books (Preston)

Company Information
for the year ended 31 March 2022







DIRECTORS: Dr SA Clark
GG Plumb





SECRETARY: Dr SA Clark





REGISTERED OFFICE: The Pastoral Centre
Holy Family, 34 Whitby Avenue
Ingol
Preston
Lancashire
PR2 3YP





REGISTERED NUMBER: 03334785 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Covenant Books (Preston) (Registered number: 03334785)

Balance Sheet
31 March 2022

2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 162 33

CURRENT ASSETS
Stocks 19,307 21,204
Debtors 5 898 276
Cash at bank and in hand 12,299 9,950
32,504 31,430
CREDITORS
Amounts falling due within one year 6 915 2,205
NET CURRENT ASSETS 31,589 29,225
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,751

29,258

RESERVES
Retained earnings 31,751 29,258
31,751 29,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2022 and were signed on its behalf by:





Dr SA Clark - Director


Covenant Books (Preston) (Registered number: 03334785)

Notes to the Financial Statements
for the year ended 31 March 2022

1. STATUTORY INFORMATION

Covenant Books (Preston) is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


The amounts in the financial statements have been rounded to the nearest £1.

2. ACCOUNTING POLICIES

Status of the company
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Covenant Books (Preston) is a company limited by guarantee and does not have a share capital. The liability of the members is limited to £1.


Turnover
Turnover represents goods sold, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

Covenant Books (Preston) (Registered number: 03334785)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 April 2021 2,112 679 2,791
Additions - 204 204
At 31 March 2022 2,112 883 2,995
DEPRECIATION
At 1 April 2021 2,079 679 2,758
Charge for year 8 67 75
At 31 March 2022 2,087 746 2,833
NET BOOK VALUE
At 31 March 2022 25 137 162
At 31 March 2021 33 - 33

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade debtors 898 276

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade creditors 913 2,175
Social security and other taxes 2 30
915 2,205