Coventry Hood & Tonneau Limited 05315812 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the manufacture of hoods and tonneaus for cars, the wholesale and retail distribution of the items produced, and consultancy services to the motor industry Digita Accounts Production Advanced 6.30.9574.0 true true 05315812 2023-01-01 2023-12-31 05315812 2023-12-31 05315812 bus:OrdinaryShareClass1 2023-12-31 05315812 core:CurrentFinancialInstruments 2023-12-31 05315812 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05315812 core:OtherPropertyPlantEquipment 2023-12-31 05315812 bus:SmallEntities 2023-01-01 2023-12-31 05315812 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05315812 bus:FilletedAccounts 2023-01-01 2023-12-31 05315812 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05315812 bus:RegisteredOffice 2023-01-01 2023-12-31 05315812 bus:Director1 2023-01-01 2023-12-31 05315812 bus:Director3 2023-01-01 2023-12-31 05315812 bus:Director4 2023-01-01 2023-12-31 05315812 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 05315812 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05315812 core:LeaseholdImprovements 2023-01-01 2023-12-31 05315812 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 05315812 countries:England 2023-01-01 2023-12-31 05315812 2022-12-31 05315812 core:OtherPropertyPlantEquipment 2022-12-31 05315812 2022-01-01 2022-12-31 05315812 2022-12-31 05315812 bus:OrdinaryShareClass1 2022-12-31 05315812 core:CurrentFinancialInstruments 2022-12-31 05315812 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05315812 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05315812

Coventry Hood & Tonneau Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Coventry Hood & Tonneau Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Coventry Hood & Tonneau Limited

Company Information

Directors

D Lowe

A L T Buckles

G Payne

Registered office

Unit 6 Penn Street Works
Penn Street
Amersham
Buckinghamshire
HP7 0FA

Accountants

Sable & Argent Limited
Chartered Accountants
2 Elvetham Crescent
Fleet
Hampshire
GU51 1BU

 

Coventry Hood & Tonneau Limited

(Registration number: 05315812)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

1,649

Current assets

 

Stocks

5

276,182

232,833

Debtors

6

546,199

472,854

Cash at bank and in hand

 

409,570

394,886

 

1,231,951

1,100,573

Creditors: Amounts falling due within one year

7

(123,663)

(112,617)

Net current assets

 

1,108,288

987,956

Net assets

 

1,108,288

989,605

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

1,108,287

989,604

Shareholders' funds

 

1,108,288

989,605

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 August 2024 and signed on its behalf by:
 

G Payne
Director

   
     
 

Coventry Hood & Tonneau Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 6 Penn Street Works
Penn Street
Amersham
Buckinghamshire
HP7 0FA

The principal place of business is:
30 Heath Hill Industrial Estate
Dawley
Telford
Shropshire
TF4 2RH

These financial statements were authorised for issue by the Board on 9 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax. The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Coventry Hood & Tonneau Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction, down to their residual values over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

over the life of the original lease

Plant and equipment

straight line over four years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business. Trade debtors are recognised at the transaction price.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

 

Coventry Hood & Tonneau Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons (including directors) employed by the company in the year, was 8 (2022: 8).

4

Tangible assets

Plant and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

9,918

9,918

At 31 December 2023

9,918

9,918

Depreciation

At 1 January 2023

8,269

8,269

Charge for the year

1,649

1,649

At 31 December 2023

9,918

9,918

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

1,649

1,649

 

Coventry Hood & Tonneau Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

276,182

232,833

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

241,514

228,695

Amounts owed by related parties

2,225

-

Prepayments

 

-

2,269

Other debtors

 

302,460

241,890

   

546,199

472,854

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

679

1,453

Taxation and social security

51,232

38,940

Accruals and deferred income

908

713

Other creditors

70,844

71,511

123,663

112,617

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1

1

1

1