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Registered Number: 09347978
England and Wales
Abridged Accounts
for the year ended 31 December 2024
for
COVARIANCE LTD

COVARIANCE LTD ###### Statement of Financial Position As at 31 December 2024
| Notes | 2024 £ |  | 2023 £
--- | --- | --- | --- | ---
Fixed assets |  |
Intangible fixed assets |  | 0 |  | (1)
Tangible fixed assets | 2 | 2,670 |  | 1,694
Financial assets | 3 | 125,184 |  | 0
|  | 127,854 |  | 1,693
Current assets |  |
Debtors | 4 | 38,886 |  | 44,032
Cash at bank and in hand |  | 38,137 |  | 173,589
|  | 77,023 |  | 217,621
Creditors: amount falling due within one year | 5 | (1,646) |  | (1,017)
Net current assets/(liabilities) |  | 75,377 |  | 216,604
Total assets less current liabilities |  | 203,231 |  | 218,297
Accrued liabilities |  | (34) |  | (26)
Net assets/(liabilities) |  | 203,197 |  | 218,271
Capital and reserves |  |
Called up share capital |  | 10 |  | 10
Reserves | 6 | 16,574 |  | 8,962
Profit and loss account |  | 186,613 |  | 209,299
Shareholders fund |  | 203,197 |  | 218,271
For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' Responsibilities: The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime of Part 15 of the Companies Act 2006. The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A). Signed on behalf of the board of directors:
---------------------------------- Carrie-Anne Louise Thomson Director
Date approved: 16 September 2025 1

COVARIANCE LTD ###### Notes to the Accounts For the year ended 31 December 2024
Statutory Information COVARIANCE LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 09347978, registered office Pendell House Pendell Road, Bletchingley, Redhill, Surrey, RH1 4QH. The presentation currency is £ sterling.
1. | Accounting Policies Basis of accounting The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016). COVARIANCE LTD Turnover Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Taxation Taxation represents the sum of tax currently payable and deferred tax. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred taxation Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Tangible fixed assets Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings | 25% Reducing Balance
Computer Equipment | 25% Straight Line
Fixed asset investments Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2. | Tangible fixed assets
Cost or Valuation |  | Fixtures and Fittings |  | Computer Equipment |  | Total
|  | £ |  | £ |  | £
At 01 January 2024 |  | 1,208 |  | 2,206 |  | 3,414
Additions |  | - |  | 2,164 |  | 2,164
At 31 December 2024 |  | 1,208 |  | 4,370 |  | 5,578
Depreciation
At 01 January 2024 |  | 825 |  | 895 |  | 1,720
Charge for year |  | 96 |  | 1,092 |  | 1,188
At 31 December 2024 |  | 921 |  | 1,987 |  | 2,908
Net book values
Closing balance as at 31 December 2024 |  | 287 |  | 2,383 |  | 2,670
Opening balance as at 01 January 2024 |  | 383 |  | 1,311 |  | 1,694
3. | Financial assets
Cost or Valuation |  | Other investments not loans - unlisted |  | Total
|  | £ |  | £
At 01 January 2024 |  | 69,002 |  | 69,002
Additions |  | 48,570 |  | 48,570
Revaluations |  | 7,612 |  | 7,612
At 31 December 2024 |  | 125,184 |  | 125,184
Depreciation
At 01 January 2024 |  | 0 |  | 0
At 31 December 2024 |  | 0 |  | 0
Net book values
At 31 December 2024 |  | 125,184 |  | 125,184
At 01 January 2024 |  | 69,002 |  | 69,002
4. | Debtors: amounts falling due within one year
| 2024 £ |  | 2023 £
--- | --- | --- | ---
Trade debtors | 8,136 |  | 0
Other debtors | 15,000 |  | 34,600
S455 tax | 7 |  | 7
Prepayments | 354 |  | 381
Corporation tax | 0 |  | 821
Directors' current account | 15,389 |  | 8,223
| 38,886 |  | 44,032
5. | Creditors: amount falling due within one year
| 2024 £ |  | 2023 £
--- | --- | --- | ---
Business credit card | 19 |  | 12
Corporation tax | 524 |  | 0
Social security & other tax | 0 |  | 146
VAT | 1,103 |  | 859
| 1,646 |  | 1,017
6. | Reserves
| 2024 £ |  | 2023 £
--- | --- | --- | ---
Investments w/off / revalued | 16,574 |  | 8,962
| 16,574 |  | 8,962
7. | Average number of employees Average number of employees during the year were 2 (2023: 2).
8. | Directors current account At the year-end of 31/12/24 director Carrie-Anne Thomson owed the company £10,389.03. The loan is interest bearing, unsecured and has no set repayment terms. At the year-end of 31/12/24 director Mark Thomson owed the company £5,000.00. The loan is interest-free, unsecured and has no set repayment terms.
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