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Registered number: 03026024
Coveford Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Elsburys Ltd
Contents
Page
Accountants' Report 1
Balance Sheet 2
Notes to the Financial Statements 3—4
Page 1
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Coveford Limited for the year ended 31 July 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Coveford Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Coveford Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Coveford Limited and state those matters that we have agreed to state to the directors of Coveford Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coveford Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Coveford Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Coveford Limited . You consider that Coveford Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Coveford Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
03/04/2025
Elsburys Ltd
ACCA
Suite 2, 1 Kings Road
Crowthorne
Berkshire
RG45 7BF
Page 1
Page 2
Balance Sheet
Registered number: 03026024
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 336,272 340,943
Investments 5 12,000 12,000
348,272 352,943
CURRENT ASSETS
Debtors 6 77,622 5,003
Cash at bank and in hand 73,821 293,823
151,443 298,826
Creditors: Amounts Falling Due Within One Year 7 (7,968 ) (2,501 )
NET CURRENT ASSETS (LIABILITIES) 143,475 296,325
TOTAL ASSETS LESS CURRENT LIABILITIES 491,747 649,268
NET ASSETS 491,747 649,268
CAPITAL AND RESERVES
Called up share capital 8 1,262 1,262
Profit and Loss Account 490,485 648,006
SHAREHOLDERS' FUNDS 491,747 649,268
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr B Bidston
Director
03/04/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Coveford Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03026024 . The registered office is Rectory Farm, The Village, Wokingham, Berkshire, RG40 4JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery - Straight line over 7 years
Computer Equipment - 33% on cost
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 423,842 86,737 2,220 512,799
As at 31 July 2024 423,842 86,737 2,220 512,799
Depreciation
As at 1 August 2023 87,815 82,135 1,906 171,856
Provided during the period 3,180 1,186 305 4,671
As at 31 July 2024 90,995 83,321 2,211 176,527
Net Book Value
As at 31 July 2024 332,847 3,416 9 336,272
As at 1 August 2023 336,027 4,602 314 340,943
In accordance with FRS102 and the historical cost convention, the 'land and buildings' element of the company's assets are shown at depreciated cost, as opposed to current market value.
Page 3
Page 4
5. Investments
Other
£
Cost
As at 1 August 2023 12,000
As at 31 July 2024 12,000
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 12,000
As at 1 August 2023 12,000
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 77,622 5,003
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,533 99
Other creditors 1,435 2,402
7,968 2,501
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,262 1,262
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Brian Bidston 967 (220,629 ) 146,108 - (73,563 )
The above loan is unsecured, interest free and repayable on demand.
Page 4