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REGISTERED NUMBER: 04087256 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

COVERWORLD CONSTRUCTION LTD

COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 040872

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COVERWORLD CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: P Brand
A P Young





SECRETARY: P Brand





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 04087256 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 040872

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 59,134 69,571
59,134 69,571

CURRENT ASSETS
Debtors 6 1,014,793 1,445,968
Cash at bank and in hand 406,479 173,278
1,421,272 1,619,246
CREDITORS
Amounts falling due within one year 7 217,990 499,425
NET CURRENT ASSETS 1,203,282 1,119,821
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,262,416

1,189,392

PROVISIONS FOR LIABILITIES 8,412 8,376
NET ASSETS 1,254,004 1,181,016

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,253,904 1,180,916
SHAREHOLDERS' FUNDS 1,254,004 1,181,016

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 040872

BALANCE SHEET - continued
31 OCTOBER 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 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 1 February 2024 and were signed on its behalf by:





P Brand - Director


COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 040872

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Coverworld Construction Ltd 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
The turnover shown in the profit and loss account represents amounts earned during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, has been amortised evenly over its estimated useful life of ten years.

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.

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 reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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


COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 040872

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 6,000
AMORTISATION
At 1 November 2022
and 31 October 2023 6,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 040872

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022
and 31 October 2023 32,684 10,363 152,268 36,744 232,059
DEPRECIATION
At 1 November 2022 32,684 5,405 96,463 27,936 162,488
Charge for year - 744 8,372 1,321 10,437
At 31 October 2023 32,684 6,149 104,835 29,257 172,925
NET BOOK VALUE
At 31 October 2023 - 4,214 47,433 7,487 59,134
At 31 October 2022 - 4,958 55,805 8,808 69,571

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,464 269,850
Amounts recoverable on contract 256,633 403,302
Other debtors 742,696 772,816
1,014,793 1,445,968

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 163,604 421,489
Taxation and social security 44,408 69,767
Other creditors 9,978 8,169
217,990 499,425

COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 040872

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. RELATED PARTY DISCLOSURES

Vidan Properties Ltd

A company in which Mr Brand is the sole director and shareholder.

Non interest bearing loan on which no terms of repayment have been agreed. The amount due from Vidan Properties Ltd at the balance sheet date was £525,000 (2022 - £525,000).


AP Young Ltd

A company in which Mr Young is the sole director and shareholder.

Non interest bearing loan on which no terms of repayment have been agreed. The amount due from AP Young Ltd at the balance sheet date was £175,000 (2022 - £175,000).