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REGISTERED NUMBER: 09071512 (England and Wales)















COVER VIDEO INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






COVER VIDEO INTERNATIONAL LIMITED (REGISTERED NUMBER: 09071512)






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


COVER VIDEO INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: M D Walker
Ms S L Heyman
G Marks





REGISTERED OFFICE: 60 Gray's Inn Road
London
WC1X 8LU





REGISTERED NUMBER: 09071512 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

COVER VIDEO INTERNATIONAL LIMITED (REGISTERED NUMBER: 09071512)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,161 535

CURRENT ASSETS
Stocks 20,590 16,658
Debtors 5 150,961 187,764
Cash at bank 5,308 861
176,859 205,283
CREDITORS
Amounts falling due within one year 6 (52,968 ) (123,312 )
NET CURRENT ASSETS 123,891 81,971
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,052

82,506

CREDITORS
Amounts falling due after more than one year 7 (28,792 ) (32,241 )
NET ASSETS 96,260 50,265

CAPITAL AND RESERVES
Called up share capital 150 150
Share premium 29,955 29,955
Retained earnings 66,155 20,160
SHAREHOLDERS' FUNDS 96,260 50,265

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.

COVER VIDEO INTERNATIONAL LIMITED (REGISTERED NUMBER: 09071512)

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 21 February 2024 and were signed on its behalf by:





M D Walker - Director


COVER VIDEO INTERNATIONAL LIMITED (REGISTERED NUMBER: 09071512)

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

1. STATUTORY INFORMATION

Cover Video International 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, excluding discounts, rebates, value added tax and other sales taxes.

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

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.

COVER VIDEO INTERNATIONAL LIMITED (REGISTERED NUMBER: 09071512)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2022 2,202
Additions 1,340
At 30 June 2023 3,542
DEPRECIATION
At 1 July 2022 1,667
Charge for year 714
At 30 June 2023 2,381
NET BOOK VALUE
At 30 June 2023 1,161
At 30 June 2022 535

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,931 73,250
Loan - Cover Media Limited (16,036 ) 68,531
Loan - Cover Images 16,000 12,000
Loan - Instar Images 117,212 29,491
Withholding Tax 6,854 762
VAT - 3,730
150,961 187,764

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,824 14,376
Other loans 9,812 9,812
Trade creditors 22,136 79,712
Corporation Tax 2,753 -
Social security and other taxes 7,023 15,431
VAT 4,949 -
Directors' current accounts 1,721 1,721
Accrued expenses 1,750 2,260
52,968 123,312

COVER VIDEO INTERNATIONAL LIMITED (REGISTERED NUMBER: 09071512)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 9,812 9,812
Other loans - 2-5 years 18,980 22,429
28,792 32,241