Company Registration No. 11991467 (England and Wales)
Asset Cover Ltd
Estimated Unaudited accounts
for the year ended 31 May 2024
Asset Cover Ltd
Estimated Unaudited accounts
Contents
Asset Cover Ltd
Company Information
for the year ended 31 May 2024
Company Number
11991467 (England and Wales)
Registered Office
107 King Street
Blackburn
BB2 2DT
UNITED KINGDOM
Accountants
ESJ Accountants Ltd
3 Scott House
Admirals Way
Canary Wharf
London
E14 9UG
Asset Cover Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
11,400
13,630
Investment property
473,329
473,329
Cash at bank and in hand
47,649
46,693
Creditors: amounts falling due within one year
(3,353)
(11,217)
Net current assets
119,837
99,399
Total assets less current liabilities
604,566
586,358
Creditors: amounts falling due after more than one year
(671,027)
(666,372)
Net liabilities
(66,461)
(80,014)
Called up share capital
100
100
Profit and loss account
(66,561)
(80,114)
Shareholders' funds
(66,461)
(80,014)
For the year ending 31 May 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 March 2025 and were signed on its behalf by
Khalid Dalal
Director
Company Registration No. 11991467
Asset Cover Ltd
Notes to the Accounts
for the year ended 31 May 2024
Asset Cover Ltd is a private company, limited by shares, registered in England and Wales, registration number 11991467. The registered office is 107 King Street, Blackburn, BB2 2DT, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2023
11,899
5,199
17,098
At 31 May 2024
11,899
5,199
17,098
At 1 June 2023
1,190
2,278
3,468
Charge for the year
1,190
1,040
2,230
At 31 May 2024
2,380
3,318
5,698
At 31 May 2024
9,519
1,881
11,400
At 31 May 2023
10,709
2,921
13,630
Fair value at 1 June 2023
473,329
Asset Cover Ltd
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
Other debtors
55,923
63,923
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,573
-
Loans from directors
-
10,797
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
371,846
362,472
Other creditors
299,181
303,900
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).