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REGISTERED NUMBER: 12649461 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

COVEROCK INSULATION LIMITED

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COVEROCK INSULATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: P Murawski
K Z Wrobel





SECRETARY: M Paczkowski





REGISTERED OFFICE: 5 White Oak Square
London Road
Swanley
Kent
BR8 7AG





REGISTERED NUMBER: 12649461 (England and Wales)





ACCOUNTANTS: Sargeant Partnership LLP
Chartered Accountants
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,085 -
34,085 -

CURRENT ASSETS
Debtors 6 39,015 14,866
Cash at bank 234,583 29,009
273,598 43,875
CREDITORS
Amounts falling due within one year 7 232,103 37,134
NET CURRENT ASSETS 41,495 6,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

75,580

6,741

CREDITORS
Amounts falling due after more than one
year

8

(28,895

)

-

PROVISIONS FOR LIABILITIES (8,521 ) -
NET ASSETS 38,164 6,741

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 38,064 6,641
SHAREHOLDERS' FUNDS 38,164 6,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

BALANCE SHEET - continued
30 JUNE 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:





P Murawski - Director


COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Coverock Insulation Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual property was fully amortised as at 30/06/2022.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - Straight line over 2 years
Motor vehicles - 25% per annum on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 July 2022
and 30 June 2023 11,991
AMORTISATION
At 1 July 2022
and 30 June 2023 11,991
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
Additions 1,751 36,398 38,149
At 30 June 2023 1,751 36,398 38,149
DEPRECIATION
Charge for year 273 3,791 4,064
At 30 June 2023 273 3,791 4,064
NET BOOK VALUE
At 30 June 2023 1,478 32,607 34,085

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 36,398
At 30 June 2023 36,398
DEPRECIATION
Charge for year 3,791
At 30 June 2023 3,791
NET BOOK VALUE
At 30 June 2023 32,607

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 32,692 14,866
Other debtors 4,000 -
Prepayments 2,323 -
39,015 14,866

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 1,964 -
Trade creditors 53,115 11,303
Tax 1,350 532
Social security and other taxes 1,815 -
VAT 135,187 10,681
Other creditors 257 -
Accruals and deferred income 38,415 14,618
232,103 37,134

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts 28,895 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 July 2022 6,641
Profit for the year 31,423
At 30 June 2023 38,064

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are T Slowiak and M Alcindor by way of their shareholding in KTD Group Holdings Limited, the parent company of Coverock Insulation Limited.