Covert (UK) Limited SC273064 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is The principal activity of the company during the year was that of cleaning services. Digita Accounts Production Advanced 6.30.9574.0 true true SC273064 2023-04-01 2024-03-31 SC273064 2024-03-31 SC273064 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC273064 core:ShareCapital 2024-03-31 SC273064 core:CurrentFinancialInstruments 2024-03-31 SC273064 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC273064 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 SC273064 core:MotorVehicles 2024-03-31 SC273064 bus:SmallEntities 2023-04-01 2024-03-31 SC273064 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC273064 bus:FilletedAccounts 2023-04-01 2024-03-31 SC273064 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC273064 bus:RegisteredOffice 2023-04-01 2024-03-31 SC273064 bus:Director2 2023-04-01 2024-03-31 SC273064 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC273064 core:MotorVehicles 2023-04-01 2024-03-31 SC273064 countries:Scotland 2023-04-01 2024-03-31 SC273064 core:MotorVehicles 2023-03-31 SC273064 2022-04-01 2023-03-31 SC273064 2023-03-31 SC273064 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC273064 core:ShareCapital 2023-03-31 SC273064 core:CurrentFinancialInstruments 2023-03-31 SC273064 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 SC273064 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 SC273064 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure

Registration number: SC273064

Covert (UK) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Covert (UK) Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Covert (UK) Limited

(Registration number: SC273064)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

19,881

26,508

Current assets

 

Stocks

1,940

1,847

Debtors

5

16,334

16,084

Cash at bank and in hand

 

395

10,680

 

18,669

28,611

Creditors: Amounts falling due within one year

6

(82,457)

(81,130)

Net current liabilities

 

(63,788)

(52,519)

Total assets less current liabilities

 

(43,907)

(26,011)

Creditors: Amounts falling due after more than one year

6

(11,085)

(20,449)

Provisions for liabilities

(2,088)

(1,384)

Net liabilities

 

(57,080)

(47,844)

Capital and reserves

 

Called up share capital

101

101

Retained earnings

(57,181)

(47,945)

Shareholders' deficit

 

(57,080)

(47,844)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 Director acknowledges his 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 Director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 4 November 2024
 

 

Covert (UK) Limited

(Registration number: SC273064)
Statement of Financial Position as at 31 March 2024

.........................................
Mr Christopher Lundie
Director

 

Covert (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
29 Commercial Street
Dundee
Tayside
DD1 3DG
Scotland

2

Accounting policies

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.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises deferred 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.

 

Covert (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

Covert (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 10 (2023 - 9).

 

Covert (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Motor vehicles
 £

Cost or valuation

At 1 April 2023

53,165

At 31 March 2024

53,165

Depreciation

At 1 April 2023

26,657

Charge for the year

6,627

At 31 March 2024

33,284

Carrying amount

At 31 March 2024

19,881

At 31 March 2023

26,508

5

Debtors

Current

2024
£

2023
£

Trade debtors

16,334

16,084

 

16,334

16,084

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

30,606

30,240

Taxation and social security

 

7,708

8,527

Other creditors

 

44,143

42,363

 

82,457

81,130

Creditors: amounts falling due after more than one year

 

Covert (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11,085

20,449