Company Registration No. 08768938 (England and Wales)
Covarius Technology Limited
Unaudited accounts
for the year ended 31 December 2021
Covarius Technology Limited
Unaudited accounts
Contents
Covarius Technology Limited
Company Information
for the year ended 31 December 2021
Directors
Andrew Marshall
James Bateman
Gareth List
Company Number
08768938 (England and Wales)
Registered Office
71-75 Shelton Street
London
WC2H 9JQ
Accountants
Multiply Accountancy Limited
71-75 Shelton Street
London
WC2H 9JQ
Covarius Technology Limited
Statement of financial position
as at 31 December 2021
Tangible assets
6,396
6,971
Cash at bank and in hand
236,624
249,325
Creditors: amounts falling due within one year
(629,251)
(678,996)
Net current assets
814,882
419,096
Total assets less current liabilities
821,328
426,117
Creditors: amounts falling due after more than one year
(285,114)
-
Provisions for liabilities
Deferred tax
(1,323)
(1,323)
Net assets
534,891
424,794
Called up share capital
605
605
Profit and loss account
534,286
424,189
Shareholders' funds
534,891
424,794
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 22 August 2022 and were signed on its behalf by
Gareth List
Director
Company Registration No. 08768938
Covarius Technology Limited
Notes to the Accounts
for the year ended 31 December 2021
Covarius Technology Limited is a private company, limited by shares, registered in England and Wales, registration number 08768938. 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
25% straight line
Computer equipment
25% reducing balance
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2021
-
20,026
20,026
At 31 December 2021
1,558
20,026
21,584
At 1 January 2021
-
13,055
13,055
Charge for the year
390
1,743
2,133
At 31 December 2021
390
14,798
15,188
At 31 December 2021
1,168
5,228
6,396
At 31 December 2020
-
6,971
6,971
5
Investments
Subsidiary undertakings
Valuation at 1 January 2021
50
Valuation at 31 December 2021
50
Covarius Technology Limited
Notes to the Accounts
for the year ended 31 December 2021
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
403,906
263,192
Amounts due from group undertakings etc.
802,780
553,327
Accrued income and prepayments
823
26,625
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
48,977
250,685
Trade creditors
149,227
32,979
Amounts owed to group undertakings and other participating interests
124,019
166,212
Taxes and social security
302,554
225,067
Other creditors
4,474
4,053
8
Creditors: amounts falling due after more than one year
2021
2020
9
Average number of employees
During the year the average number of employees was 17 (2020: 14).