Company registration number: 07409069
Unaudited financial statements
for the year ended 31 October 2024
for
Covent Garden Supply (Imports & Direct Sales) Limited
Pages for filing with the Registrar
Company registration number: 07409069
Covent Garden Supply (Imports & Direct Sales) Limited
Balance sheet
as at 31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 149,683 72,819
149,683 72,819
Current assets
Stocks 54,560 21,992
Debtors 1,840,890 2,135,004
Cash at bank and in hand 1,006,097 1,537,994
2,901,547 3,694,990
Creditors: amounts falling due within one
year
(932,956) (1,487,469)
Net current assets 1,968,591 2,207,521
Total assets less current liabilities 2,118,274 2,280,340
NET ASSETS 2,118,274 2,280,340
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,118,174 2,280,240
TOTAL EQUITY 2,118,274 2,280,340
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 October 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 07409069
Covent Garden Supply (Imports & Direct Sales) Limited
Balance sheet - continued
as at 31 October 2024
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 to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 25 March 2025 and signed on its behalf by:
Mr A Johnson, Director Mr J Denyer, Director
25 March 2025 25 March 2025
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Covent Garden Supply (Imports & Direct Sales) Limited
Notes to the financial statements
for the year ended 31 October 2024
1 Company information
Covent Garden Supply (Imports & Direct Sales) Limited is a private company registered in England and Wales. Its registered number is 07409069. The company is limited by shares. Its registered office is D65-D66, New Covent Garden Market, London, London, SW8 5LL.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 25% reducing balance
Fixtures & fittings - 20% reducing balance
Motor vehicles - 25% 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.
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Covent Garden Supply (Imports & Direct Sales) Limited
Notes to the financial statements - continued
for the year ended 31 October 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. 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 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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 11 (2023 - 10).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 November 2023 208,537
Additions 76,864
At 31 October 2024 285,401
Depreciation
At 1 November 2023 135,718
At 31 October 2024 135,718
Net book value
At 31 October 2024 149,683
At 31 October 2023 72,819
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Covent Garden Supply (Imports & Direct Sales) Limited
Notes to the financial statements - continued
for the year ended 31 October 2024
4 Tangible fixed assets - continued
If ENTER REVALUED CLASS had not been revalued, it would have been included at the following historical cost:
2024 2023
£ £
Cost 285,401 -
Accumulated depreciation 135,718 -
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