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Company Registration No. 08518640 (England and Wales)
Covarius Solutions Ltd Unaudited accounts for the year ended 31 December 2021
Covarius Solutions Ltd Unaudited accounts Contents
Page
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Covarius Solutions Ltd Company Information for the year ended 31 December 2021
Directors
Gareth List James Bateman Andrew Marshall
Company Number
08518640 (England and Wales)
Registered Office
71-75 Shelton Street London WC2H 9JQ
Accountants
Multiply Accountancy Limited 71-75 Shelton Street London WC2H 9JQ
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Covarius Solutions Ltd Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,943 
2,899 
Investments
50 
50 
3,993 
2,949 
Current assets
Debtors
473,764 
451,561 
Cash at bank and in hand
16 
6,177 
473,780 
457,738 
Creditors: amounts falling due within one year
(363,721)
(409,000)
Net current assets
110,059 
48,738 
Net assets
114,052 
51,687 
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
114,049 
51,684 
Shareholders' funds
114,052 
51,687 
For the year ending 31 December 2021 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2022 and were signed on its behalf by
Gareth List Director Company Registration No. 08518640
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Covarius Solutions Ltd Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
Covarius Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 08518640. The registered office is 71-75 Shelton Street, London, WC2H 9JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2021
5,508 
Additions
2,358 
At 31 December 2021
7,866 
Depreciation
At 1 January 2021
2,609 
Charge for the year
1,314 
At 31 December 2021
3,923 
Net book value
At 31 December 2021
3,943 
At 31 December 2020
2,899 
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Covarius Solutions Ltd Notes to the Accounts for the year ended 31 December 2021
5
Investments
Other investments 
£ 
Valuation at 1 January 2021
50 
Valuation at 31 December 2021
50 
6
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
- 
18,260 
Amounts due from group undertakings etc.
468,092 
428,583 
Deferred tax asset
551 
551 
Accrued income and prepayments
5,121 
4,167 
473,764 
451,561 
7
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade creditors
8,616 
9,385 
Amounts owed to group undertakings and other participating interests
354,170 
399,358 
Taxes and social security
(2,265)
257 
Accruals
3,200 
- 
363,721 
409,000 
8
Average number of employees
During the year the average number of employees was 0 (2020: 0).
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