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COMPANY REGISTRATION NUMBER: SC602812
Kovereki Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Kovereki Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
88,686
59,072
Cash at bank and in hand
290,772
308,827
---------
---------
379,458
367,899
Creditors: amounts falling due within one year
5
159,044
257,531
---------
---------
Net current assets
220,414
110,368
---------
---------
Total assets less current liabilities
220,414
110,368
---------
---------
Capital and reserves
Called up share capital
6
100
100
Profit and loss account
220,314
110,268
---------
---------
Shareholders funds
220,414
110,368
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
G P Murphy
Director
Company registration number: SC602812
Kovereki Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Ellismuir House, Ellismuir Way, Tannochside Park, Glasgow, G71 5PW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Financial instruments
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the financial instrument. Basic financial assets, which include trade and other debtors, amounts due from group undertakings, and cash and bank balances, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future receipts discounted at the market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade creditors, bank loans and overdrafts, and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future receipts discounted at the market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4. Debtors
2023
2022
£
£
Other debtors
88,686
59,072
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
7,830
53,500
Corporation tax
33,826
23,123
Social security and other taxes
23,115
Deferred income
82,233
108,164
Accruals
10,840
59,154
Other creditors
1,200
13,590
---------
---------
159,044
257,531
---------
---------
6. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
7. Directors' advances, credits and guarantees
During the year, the company operated a director's loan account with Dawn Murphy, director. The total amount advanced during the year was £49 (2022: £100). An amount of £49 was due to the company by the director at the year end (2022: £100).