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REGISTERED NUMBER: 12649461 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

COVEROCK INSULATION LIMITED

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COVEROCK INSULATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: P Murawski
K Z Wrobel





SECRETARY: M Paczkowski





REGISTERED OFFICE: 5 White Oak Square
London Road
Swanley
Kent
BR8 7AG





REGISTERED NUMBER: 12649461 (England and Wales)





ACCOUNTANTS: Sargeant Partnership LLP
Chartered Accountants
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 25,693 34,085
25,693 34,085

CURRENT ASSETS
Stocks 6 34,903 -
Debtors 7 58,546 39,015
Cash at bank 27,264 234,583
120,713 273,598
CREDITORS
Amounts falling due within one year 8 73,375 232,103
NET CURRENT ASSETS 47,338 41,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,031

75,580

CREDITORS
Amounts falling due after more than one
year

9

(25,986

)

(28,895

)

PROVISIONS FOR LIABILITIES (6,423 ) (8,521 )
NET ASSETS 40,622 38,164

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

BALANCE SHEET - continued
30 JUNE 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 40,522 38,064
SHAREHOLDERS' FUNDS 40,622 38,164

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





P Murawski - Director


COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Coverock Insulation 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services
Turnover from the rendering of 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - Straight line over 2 years
Motor vehicles - 25% per annum on reducing balance

Work in progress
Work-in-progress is reflected in the accounts on a contract basis by recording turnover and related costs as contract activity progresses.


COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 2 (2023 - 3 ) .

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 July 2023 11,991
Disposals (11,991 )
At 30 June 2024 -
AMORTISATION
At 1 July 2023 11,991
Eliminated on disposal (11,991 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 1,751 36,398 38,149
Additions 1,173 - 1,173
At 30 June 2024 2,924 36,398 39,322
DEPRECIATION
At 1 July 2023 273 3,791 4,064
Charge for year 1,413 8,152 9,565
At 30 June 2024 1,686 11,943 13,629
NET BOOK VALUE
At 30 June 2024 1,238 24,455 25,693
At 30 June 2023 1,478 32,607 34,085

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023
and 30 June 2024 36,398
DEPRECIATION
At 1 July 2023 3,791
Charge for year 8,152
At 30 June 2024 11,943
NET BOOK VALUE
At 30 June 2024 24,455
At 30 June 2023 32,607

6. STOCKS
2024 2023
£    £   
Stocks 11,797 -
Work-in-progress 23,106 -
34,903 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,886 32,692
Other debtors 8,918 4,000
Directors' loan accounts 10,187 -
Prepayments 10,555 2,323
58,546 39,015

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 2,909 1,964
Trade creditors 36,663 53,115
Tax 2,052 1,350
Social security and other taxes 1,447 1,815
VAT 27,234 135,187
Other creditors 219 257
Accruals and deferred income 2,851 38,415
73,375 232,103

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 25,986 28,895

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 July 2023 38,064
Profit for the year 2,458
At 30 June 2024 40,522

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date P Murawski owed the company £5,000 (2023: NIL).

At the balance sheet date K Wrobel owed the company £5,187 (2023: NIL).

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

COVEROCK INSULATION LIMITED (REGISTERED NUMBER: 12649461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are T Slowiak and M Alcindor by way of their shareholding in KTD Group Holdings Limited, the parent company of Coverock Insulation Limited.