IRIS Accounts Production v24.1.0.578 00672298 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh006722982022-12-31006722982023-12-31006722982023-01-012023-12-31006722982021-12-31006722982022-01-012022-12-31006722982022-12-3100672298ns15:EnglandWales2023-01-012023-12-3100672298ns14:PoundSterling2023-01-012023-12-3100672298ns10:Director12023-01-012023-12-3100672298ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3100672298ns10:SmallEntities2023-01-012023-12-3100672298ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3100672298ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3100672298ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3100672298ns10:FullAccounts2023-01-012023-12-3100672298ns10:Director22023-01-012023-12-3100672298ns10:RegisteredOffice2023-01-012023-12-3100672298ns5:CurrentFinancialInstruments2023-12-3100672298ns5:CurrentFinancialInstruments2022-12-3100672298ns5:Non-currentFinancialInstruments2023-12-3100672298ns5:Non-currentFinancialInstruments2022-12-3100672298ns5:ShareCapital2023-12-3100672298ns5:ShareCapital2022-12-3100672298ns5:RevaluationReserve2023-12-3100672298ns5:RevaluationReserve2022-12-3100672298ns5:CapitalRedemptionReserve2023-12-3100672298ns5:CapitalRedemptionReserve2022-12-3100672298ns5:RetainedEarningsAccumulatedLosses2023-12-3100672298ns5:RetainedEarningsAccumulatedLosses2022-12-3100672298ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-3100672298ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3100672298ns5:LeaseholdImprovements2023-01-012023-12-3100672298ns5:PlantMachinery2023-01-012023-12-3100672298ns5:MotorVehicles2023-01-012023-12-3100672298ns5:ComputerEquipment2023-01-012023-12-3100672298ns5:LandBuildings2022-12-3100672298ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-3100672298ns5:LeaseholdImprovements2022-12-3100672298ns5:LandBuildings2023-01-012023-12-3100672298ns5:LandBuildings2023-12-3100672298ns5:ShortLeaseholdAssetsns5:LandBuildings2023-12-3100672298ns5:LeaseholdImprovements2023-12-3100672298ns5:LandBuildings2022-12-3100672298ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-3100672298ns5:LeaseholdImprovements2022-12-3100672298ns5:PlantMachinery2022-12-3100672298ns5:MotorVehicles2022-12-3100672298ns5:ComputerEquipment2022-12-3100672298ns5:PlantMachinery2023-12-3100672298ns5:MotorVehicles2023-12-3100672298ns5:ComputerEquipment2023-12-3100672298ns5:PlantMachinery2022-12-3100672298ns5:MotorVehicles2022-12-3100672298ns5:ComputerEquipment2022-12-3100672298ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3100672298ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3100672298ns5:WithinOneYear2023-12-3100672298ns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 00672298 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COMPREHENSIVE COVERINGS LIMITED

COMPREHENSIVE COVERINGS LIMITED (REGISTERED NUMBER: 00672298)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMPREHENSIVE COVERINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J Howe
G M Howe





REGISTERED OFFICE: 101 Ufton Lane
Sittingbourne
Kent
ME10 1JA





REGISTERED NUMBER: 00672298 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

COMPREHENSIVE COVERINGS LIMITED (REGISTERED NUMBER: 00672298)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 116,200 118,637
Investment property 5 320,000 270,000
436,200 388,637

CURRENT ASSETS
Stocks 2,902 7,129
Debtors 6 31,861 74,235
Cash at bank and in hand 9,931 10,073
44,694 91,437
CREDITORS
Amounts falling due within one year 7 50,943 61,945
NET CURRENT (LIABILITIES)/ASSETS (6,249 ) 29,492
TOTAL ASSETS LESS CURRENT
LIABILITIES

429,951

418,129

CREDITORS
Amounts falling due after more than one
year

8

(184,733

)

(190,079

)

PROVISIONS FOR LIABILITIES (40,556 ) (28,344 )
NET ASSETS 204,662 199,706

CAPITAL AND RESERVES
Called up share capital 51 51
Non distributable reserves 117,219 79,719
Capital redemption reserve 51 51
Retained earnings 87,341 119,885
SHAREHOLDERS' FUNDS 204,662 199,706

COMPREHENSIVE COVERINGS LIMITED (REGISTERED NUMBER: 00672298)

BALANCE SHEET - continued
31 DECEMBER 2023


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

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

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 12 September 2024 and were signed on its behalf by:





J Howe - Director


COMPREHENSIVE COVERINGS LIMITED (REGISTERED NUMBER: 00672298)

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

1. STATUTORY INFORMATION

Comprehensive Coverings 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of floor and wall covering services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - 5% on cost
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

No depreciation is provided on cost of freehold land.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Financial instruments
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities - trade creditors and other creditors are measured initially at fair value through the Income Statement and are measured subsequently at amortised cost.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Borrowing costs are not capitalised.


COMPREHENSIVE COVERINGS LIMITED (REGISTERED NUMBER: 00672298)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold Short to
property leasehold property
£    £    £   
COST
At 1 January 2023 130,840 850 9,777
Disposals - - -
At 31 December 2023 130,840 850 9,777
DEPRECIATION
At 1 January 2023 19,287 850 8,257
Charge for year 1,285 - 76
Eliminated on disposal - - -
At 31 December 2023 20,572 850 8,333
NET BOOK VALUE
At 31 December 2023 110,268 - 1,444
At 31 December 2022 111,553 - 1,520

COMPREHENSIVE COVERINGS LIMITED (REGISTERED NUMBER: 00672298)

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

4. TANGIBLE FIXED ASSETS - continued

Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 46,643 6,695 3,131 197,936
Disposals (1,106 ) - - (1,106 )
At 31 December 2023 45,537 6,695 3,131 196,830
DEPRECIATION
At 1 January 2023 43,412 4,671 2,822 79,299
Charge for year 375 506 77 2,319
Eliminated on disposal (988 ) - - (988 )
At 31 December 2023 42,799 5,177 2,899 80,630
NET BOOK VALUE
At 31 December 2023 2,738 1,518 232 116,200
At 31 December 2022 3,231 2,024 309 118,637

Included in cost of land and buildings is freehold land of £ 66,225 (2022 - £ 66,225 ) which is not depreciated.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 270,000
Revaluations 50,000
At 31 December 2023 320,000
NET BOOK VALUE
At 31 December 2023 320,000
At 31 December 2022 270,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 20,000
Valuation in 2019 50,000
Valuation in 2023 50,000
Cost 200,000
320,000

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 156,360 156,360

Investment property was valued on an open market basis on 31 December 2023 by the directors .

COMPREHENSIVE COVERINGS LIMITED (REGISTERED NUMBER: 00672298)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,191 40,872
Other debtors 3,670 33,363
31,861 74,235

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,433 11,120
Trade creditors 17,140 6,171
Taxation and social security 4,855 26,550
Other creditors 18,515 18,104
50,943 61,945

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 184,733 190,079

Amounts falling due in more than five years:

Repayable by instalments
Lloyds Bank Mortgage more 5 yr 151,340 152,907

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 5,794 5,794

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 178,155 183,781

The Lloyds bank loan is secured by a debenture, including a fixed charge over all present freehold property and a personal guarantee from the directors.