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REGISTERED NUMBER: 08236201 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Covill Interiors Ltd

Covill Interiors Ltd (Registered number: 08236201)






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


Covill Interiors Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: S Covill
Mrs D Covill





REGISTERED OFFICE: 12 Windward Way
Oulton Broad
Lowestoft
Suffolk





REGISTERED NUMBER: 08236201 (England and Wales)





ACCOUNTANTS: Mark Carter Accountancy Services Ltd
65 Kennedy Avenue
Halesworth
Suffolk
IP19 8EQ

Covill Interiors Ltd (Registered number: 08236201)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 286,234 249,939

CURRENT ASSETS
Stocks 11,985 26,750
Debtors 5 135,827 29,074
Cash at bank and in hand 314,720 354,764
462,532 410,588
CREDITORS
Amounts falling due within one year 6 91,899 155,774
NET CURRENT ASSETS 370,633 254,814
TOTAL ASSETS LESS CURRENT
LIABILITIES

656,867

504,753

CREDITORS
Amounts falling due after more than
one year

7

(6,691

)

(50,664

)

PROVISIONS FOR LIABILITIES (21,974 ) (11,343 )
NET ASSETS 628,202 442,746

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 628,102 442,646
SHAREHOLDERS' FUNDS 628,202 442,746

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 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.

Covill Interiors Ltd (Registered number: 08236201)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2025 and were signed on its behalf by:





S Covill - Director


Covill Interiors Ltd (Registered number: 08236201)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Covill Interiors 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

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.
Freehold property - at variable rates on reducing balance
Equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Covill Interiors Ltd (Registered number: 08236201)

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
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. The assets of the scheme are held separately from those of the company. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

Turnover
The company's turnover represents the value, excluding VAT, of goods and services supplied to customers during the year. All services took place in the UK.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Covill Interiors Ltd (Registered number: 08236201)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Freehold Motor
property Office Equipment vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 223,924 5,029 53,287 46,026 328,266
Additions - - 5,828 50,382 56,210
Disposals - - - (18,300 ) (18,300 )
At 31 October 2024 223,924 5,029 59,115 78,108 366,176
DEPRECIATION
At 1 November 2023 23,556 - 22,201 32,570 78,327
Charge for year 3,049 - 5,472 7,685 16,206
Eliminated on disposal - - - (14,591 ) (14,591 )
At 31 October 2024 26,605 - 27,673 25,664 79,942
NET BOOK VALUE
At 31 October 2024 197,319 5,029 31,442 52,444 286,234
At 31 October 2023 200,368 5,029 31,086 13,456 249,939

Included in cost of land and buildings is freehold land of £ 47,930 (2023 - £ 47,930 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2023 27,726
Transfer to ownership (27,726 )
At 31 October 2024 -
DEPRECIATION
At 1 November 2023 17,979
Charge for year 2,436
Transfer to ownership (20,415 )
At 31 October 2024 -
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 9,747

Covill Interiors Ltd (Registered number: 08236201)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 17,618 18,957
Other debtors 118,209 10,117
135,827 29,074

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts - 10,277
Hire purchase contracts - 5,536
Trade creditors 16,785 34,820
Taxation and social security 65,114 91,350
Other creditors 10,000 13,791
91,899 155,774

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans - 33,981
Other creditors 6,691 16,683
6,691 50,664

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank loans - 44,258
Hire purchase contracts - 5,536
- 49,794

The bank loan above was secured by a debenture giving a fixed and floating charge over all assets of the company.

Covill Interiors Ltd (Registered number: 08236201)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
S Covill
Balance outstanding at start of year - -
Amounts advanced 53,436 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 53,436 -

Mrs D Covill
Balance outstanding at start of year - -
Amounts advanced 53,436 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 53,436 -

The loans are unsecured and repayable on demand. Interest is charged on the loans at HM Revenue and Customs official rates of interest.