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REGISTERED NUMBER: 05270126 (England and Wales)













Unaudited Financial Statements for the Year Ended 31 March 2024

for

Coverclad Services Limited

Coverclad Services Limited (Registered number: 05270126)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Coverclad Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: T J Quigley
L J Quigley





SECRETARY: T J Quigley





REGISTERED OFFICE: Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS





REGISTERED NUMBER: 05270126 (England and Wales)





ACCOUNTANTS: Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS

Coverclad Services Limited (Registered number: 05270126)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 35,479 47,928

CURRENT ASSETS
Stocks 3,425 21,693
Debtors 5 125,848 107,222
Cash at bank 61,722 382,603
190,995 511,518
CREDITORS
Amounts falling due within one year 6 (68,601 ) (230,616 )
NET CURRENT ASSETS 122,394 280,902
TOTAL ASSETS LESS CURRENT
LIABILITIES

157,873

328,830

CREDITORS
Amounts falling due after more than
one year

7

(21,587

)

(39,820

)

PROVISIONS FOR LIABILITIES (4,049 ) (6,757 )
NET ASSETS 132,237 282,253

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 132,137 282,153
132,237 282,253

Coverclad Services Limited (Registered number: 05270126)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2024 and were signed on its behalf by:




L J Quigley - Director



T J Quigley - Director


Coverclad Services Limited (Registered number: 05270126)

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

1. STATUTORY INFORMATION

Coverclad Services 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 10 years
Fixtures and fittings - straight line over 3 years
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 Profit and Loss Account, 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.

Coverclad Services Limited (Registered number: 05270126)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 8,053 38,523 64,366 110,942
Additions - 1,185 - 1,185
At 31 March 2024 8,053 39,708 64,366 112,127
DEPRECIATION
At 1 April 2023 698 32,127 30,189 63,014
Charge for year 805 4,285 8,544 13,634
At 31 March 2024 1,503 36,412 38,733 76,648
NET BOOK VALUE
At 31 March 2024 6,550 3,296 25,633 35,479
At 31 March 2023 7,355 6,396 34,177 47,928

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,024 37,059
Other debtors 102,824 70,163
125,848 107,222

Coverclad Services Limited (Registered number: 05270126)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,213 9,957
Hire purchase contracts 8,020 7,431
Trade creditors 22,873 82,726
Taxation and social security 16,772 68,642
Other creditors 10,723 61,860
68,601 230,616

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 12,237 22,450
Hire purchase contracts 9,350 17,370
21,587 39,820

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 22,450 32,407

The bank loan is secured by a fixed and floating charge over the company's assets.

9. RELATED PARTY DISCLOSURES

During the year the company made a loan to the director, L J Quigley. The loan was unsecured and repayable on demand. Interest was charged at the official rate of interest. The amount outstanding at 31 March 2024 was £90,934 (2023 - £44,713).