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REGISTERED NUMBER: 04087256 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

COVERWORLD CONSTRUCTION LTD

COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 04087256)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

COVERWORLD CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: P Brand





SECRETARY: P Brand





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 04087256 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 04087256)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 54,613 59,134
54,613 59,134

CURRENT ASSETS
Debtors 6 1,064,047 1,014,793
Cash at bank and in hand 444,141 406,479
1,508,188 1,421,272
CREDITORS
Amounts falling due within one year 7 240,971 217,990
NET CURRENT ASSETS 1,267,217 1,203,282
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,321,830

1,262,416

PROVISIONS FOR LIABILITIES 13,653 8,412
NET ASSETS 1,308,177 1,254,004

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,308,077 1,253,904
SHAREHOLDERS' FUNDS 1,308,177 1,254,004

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 04087256)

BALANCE SHEET - continued
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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 January 2025 and were signed by:





P Brand - Director


COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 04087256)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Coverworld Construction Ltd 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
The turnover shown in the profit and loss account represents amounts earned during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, has been amortised evenly over its estimated useful life of ten years.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Fixed assets are initially recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 04087256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 6,000
AMORTISATION
At 1 November 2023
and 31 October 2024 6,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 04087256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 32,684 10,363 152,268 36,744 232,059
Additions - - - 5,117 5,117
At 31 October 2024 32,684 10,363 152,268 41,861 237,176
DEPRECIATION
At 1 November 2023 32,684 6,149 104,835 29,257 172,925
Charge for year - 632 7,115 1,891 9,638
At 31 October 2024 32,684 6,781 111,950 31,148 182,563
NET BOOK VALUE
At 31 October 2024 - 3,582 40,318 10,713 54,613
At 31 October 2023 - 4,214 47,433 7,487 59,134

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,496 15,464
Amounts recoverable on contract 304,336 256,633
Other debtors 737,215 742,696
1,064,047 1,014,793

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 184,650 163,604
Taxation and social security 47,518 44,408
Other creditors 8,803 9,978
240,971 217,990

COVERWORLD CONSTRUCTION LTD (REGISTERED NUMBER: 04087256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


8. RELATED PARTY DISCLOSURES

Vidan Properties Ltd

A company in which Mr Brand is the sole director and shareholder.

Non interest bearing loan on which no terms of repayment have been agreed. The amount due from Vidan Properties Ltd at the balance sheet date was £525,000 (2023 - £525,000).


AP Young Ltd

A company in which Mr Young is the sole director and shareholder.

Non interest bearing loan on which no terms of repayment have been agreed. The amount due from AP Young Ltd at the balance sheet date was £175,000 (2023 - £175,000).

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
COVERWORLD CONSTRUCTION LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coverworld Construction Ltd for the year ended 31 October 2024 which comprise the Statement of Income and Retained Earnings, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Coverworld Construction Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Coverworld Construction Ltd and state those matters that we have agreed to state to the director of Coverworld Construction Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coverworld Construction Ltd and its director for our work or for this report.

It is your duty to ensure that Coverworld Construction Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Coverworld Construction Ltd. You consider that Coverworld Construction Ltd 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 financial statements of Coverworld Construction Ltd. 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 statutory financial statements.






Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE


10 January 2025