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REGISTERED NUMBER: 10242088 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 20 DECEMBER 2023

FOR

SB(COV) LIMITED

SB(COV) LIMITED (REGISTERED NUMBER: 10242088)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 20 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SB(COV) LIMITED

COMPANY INFORMATION
for the year ended 20 December 2023







DIRECTOR: Ms E Antoniou





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 10242088 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

SB(COV) LIMITED (REGISTERED NUMBER: 10242088)

BALANCE SHEET
20 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 64,000 -
Tangible assets 5 123,689 120,673
187,689 120,673

CURRENT ASSETS
Stocks 275,000 275,000
Debtors 6 119,792 286,532
Cash at bank 94,378 10,470
489,170 572,002
CREDITORS
Amounts falling due within one year 7 426,231 394,524
NET CURRENT ASSETS 62,939 177,478
TOTAL ASSETS LESS CURRENT
LIABILITIES

250,628

298,151

CREDITORS
Amounts falling due after more than one
year

8

(151,513

)

(222,472

)

PROVISIONS FOR LIABILITIES (27,265 ) (19,971 )
NET ASSETS 71,850 55,708

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 71,849 55,707
SHAREHOLDERS' FUNDS 71,850 55,708

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 20 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 20 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

SB(COV) LIMITED (REGISTERED NUMBER: 10242088)

BALANCE SHEET - continued
20 December 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 director and authorised for issue on 11 September 2024 and were signed by:





Ms E Antoniou - Director


SB(COV) LIMITED (REGISTERED NUMBER: 10242088)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 20 December 2023

1. STATUTORY INFORMATION

SB(Cov) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five 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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

SB(COV) LIMITED (REGISTERED NUMBER: 10242088)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 20 December 2023

2. ACCOUNTING POLICIES - continued

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.

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 13 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 21 December 2022 15,737
Reclassification/transfer 80,000
At 20 December 2023 95,737
AMORTISATION
At 21 December 2022 15,737
Amortisation for year 16,000
At 20 December 2023 31,737
NET BOOK VALUE
At 20 December 2023 64,000
At 20 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 21 December 2022 281,629 1,764 24,713 - 308,106
Additions 34,730 - - 846 35,576
At 20 December 2023 316,359 1,764 24,713 846 343,682
DEPRECIATION
At 21 December 2022 165,361 1,146 20,926 - 187,433
Charge for year 31,353 155 946 106 32,560
At 20 December 2023 196,714 1,301 21,872 106 219,993
NET BOOK VALUE
At 20 December 2023 119,645 463 2,841 740 123,689
At 20 December 2022 116,268 618 3,787 - 120,673

SB(COV) LIMITED (REGISTERED NUMBER: 10242088)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 20 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 89,062 81,119
Other debtors - 80,348
Accrued income 9,435 99,474
Prepayments 21,295 25,591
119,792 286,532

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 46,952 48,739
Hire purchase contracts 27,990 27,990
Trade creditors 92,663 82,130
Tax 619 -
Social security and other taxes 56,378 103,068
Pension Liability 23,248 26,048
VAT 42,739 69,340
Other creditors 82,038 2,862
Accrued expenses 53,604 34,347
426,231 394,524

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-5 years 99,583 142,552
Hire purchase contracts 51,930 79,920
151,513 222,472