IRIS Accounts Production v25.1.4.42 03279826 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh032798262023-12-31032798262024-12-31032798262024-01-012024-12-31032798262022-12-31032798262023-01-012023-12-31032798262023-12-3103279826ns15:EnglandWales2024-01-012024-12-3103279826ns14:PoundSterling2024-01-012024-12-3103279826ns10:Director12024-01-012024-12-3103279826ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3103279826ns10:SmallEntities2024-01-012024-12-3103279826ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3103279826ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3103279826ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3103279826ns10:FullAccounts2024-01-012024-12-310327982612024-01-012024-12-3103279826ns10:Director22024-01-012024-12-3103279826ns10:Director32024-01-012024-12-3103279826ns10:RegisteredOffice2024-01-012024-12-3103279826ns5:CurrentFinancialInstruments2024-12-3103279826ns5:CurrentFinancialInstruments2023-12-3103279826ns5:Non-currentFinancialInstruments2024-12-3103279826ns5:Non-currentFinancialInstruments2023-12-3103279826ns5:ShareCapital2024-12-3103279826ns5:ShareCapital2023-12-3103279826ns5:CapitalRedemptionReserve2024-12-3103279826ns5:CapitalRedemptionReserve2023-12-3103279826ns5:RetainedEarningsAccumulatedLosses2024-12-3103279826ns5:RetainedEarningsAccumulatedLosses2023-12-3103279826ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3103279826ns5:ComputerSoftware2024-01-012024-12-3103279826ns5:PlantMachinery2024-01-012024-12-3103279826ns5:FurnitureFittings2024-01-012024-12-3103279826ns5:MotorVehicles2024-01-012024-12-3103279826ns5:ComputerEquipment2024-01-012024-12-3103279826ns5:IntangibleAssetsOtherThanGoodwill2023-12-3103279826ns5:IntangibleAssetsOtherThanGoodwill2024-12-3103279826ns5:IntangibleAssetsOtherThanGoodwill2023-12-3103279826ns5:PlantMachinery2023-12-3103279826ns5:FurnitureFittings2023-12-3103279826ns5:MotorVehicles2023-12-3103279826ns5:ComputerEquipment2023-12-3103279826ns5:PlantMachinery2024-12-3103279826ns5:FurnitureFittings2024-12-3103279826ns5:MotorVehicles2024-12-3103279826ns5:ComputerEquipment2024-12-3103279826ns5:PlantMachinery2023-12-3103279826ns5:FurnitureFittings2023-12-3103279826ns5:MotorVehicles2023-12-3103279826ns5:ComputerEquipment2023-12-3103279826ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3103279826ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-01-012024-12-3103279826ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-12-3103279826ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3103279826ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3103279826ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3103279826ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-12-3103279826ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-12-3103279826ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-12-3103279826ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3103279826ns5:HirePurchaseContracts2024-12-3103279826ns5:HirePurchaseContracts2023-12-3103279826ns5:Secured2024-12-3103279826ns5:Secured2023-12-31
REGISTERED NUMBER: 03279826 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

COVINGTON DEVELOPMENTS
LIMITED

COVINGTON DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03279826)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COVINGTON DEVELOPMENTS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M K Buckenham
D Hart
H Rose





REGISTERED OFFICE: 68 Hotchkiss Way
Binley Industrial Estate
Coventry
CV3 2RL





REGISTERED NUMBER: 03279826 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
5 Argosy Court
Scimitar Way
Whitley Business Park
Coventry
CV3 4GA

COVINGTON DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03279826)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 2,771 3,876
Tangible assets 4 379,014 385,834
381,785 389,710

CURRENT ASSETS
Stocks 177,522 234,993
Debtors 5 361,048 347,170
Cash at bank and in hand 185,217 172,952
723,787 755,115
CREDITORS
Amounts falling due within one year 6 391,246 425,178
NET CURRENT ASSETS 332,541 329,937
TOTAL ASSETS LESS CURRENT
LIABILITIES

714,326

719,647

CREDITORS
Amounts falling due after more than one
year

7

(191,667

)

(231,671

)

PROVISIONS FOR LIABILITIES (94,753 ) (97,428 )
NET ASSETS 427,906 390,548

CAPITAL AND RESERVES
Called up share capital 16,825 16,825
Capital redemption reserve 49,875 49,875
Retained earnings 361,206 323,848
SHAREHOLDERS' FUNDS 427,906 390,548

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

COVINGTON DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03279826)

BALANCE SHEET - continued
31 DECEMBER 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 5 August 2025 and were signed on its behalf by:





M K Buckenham - Director


COVINGTON DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03279826)

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


1. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 - 15% on reducing balance and Straight line over 10 years
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

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.

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.

COVINGTON DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03279826)

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


1. ACCOUNTING POLICIES - continued

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.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 26 ) .

3. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024 4,000
Additions 322
At 31 December 2024 4,322
AMORTISATION
At 1 January 2024 124
Charge for year 1,427
At 31 December 2024 1,551
NET BOOK VALUE
At 31 December 2024 2,771
At 31 December 2023 3,876

COVINGTON DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03279826)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 1,194,637 32,089 13,245 97,780 1,337,751
Additions 55,000 3,209 - 129 58,338
Disposals - - - (18,733 ) (18,733 )
At 31 December 2024 1,249,637 35,298 13,245 79,176 1,377,356
DEPRECIATION
At 1 January 2024 828,962 23,354 7,502 92,099 951,917
Charge for year 59,110 1,468 1,436 3,144 65,158
Eliminated on disposal - - - (18,733 ) (18,733 )
At 31 December 2024 888,072 24,822 8,938 76,510 998,342
NET BOOK VALUE
At 31 December 2024 361,565 10,476 4,307 2,666 379,014
At 31 December 2023 365,675 8,735 5,743 5,681 385,834

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2024
and 31 December 2024 129,950
DEPRECIATION
At 1 January 2024 77,617
Charge for year 11,330
Reclassification/transfer (8,787 )
At 31 December 2024 80,160
NET BOOK VALUE
At 31 December 2024 49,790
At 31 December 2023 52,333

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 309,610 296,392
Other debtors 51,438 50,778
361,048 347,170

COVINGTON DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03279826)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 27,699 22,258
Hire purchase contracts (see note 8) 60,286 48,997
Trade creditors 134,337 192,260
Taxation and social security 116,536 130,470
Other creditors 52,388 31,193
391,246 425,178

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 25,609 48,862
Hire purchase contracts (see note 8) 135,059 141,636
Other creditors 30,999 41,173
191,667 231,671

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 60,286 48,997
Between one and five years 135,059 141,636
195,345 190,633

The property lease term is currently under discussion for renewal and a new lease agreement will be prepared in the next 12 months.

COVINGTON DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 03279826)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 53,308 71,120
Hire purchase contracts 195,345 190,633
248,653 261,753

The finance debt is secured on specific tangible fixed assets.

Any bank indebtedness is secured by fixed and floating charges over the company assets.