The Cove (Yorkshire) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11622986 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Cove (Yorkshire) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms A M Widdup

REGISTERED OFFICE:

Rockhaven

Newlands Road

Cloughton

Scarborough

North Yorkshire

YO13 0AR

REGISTERED NUMBER:

11622986 (England and Wales)

ACCOUNTANTS:

Asquith Accountants Ltd

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

FIXED ASSETS

Intangible assets

4

24,000

28,000

Tangible assets

5

26,517

339,465

Investment property

6

425,000

-

475,517

367,465

CURRENT ASSETS

Stocks

-

2,497

Debtors

7

-

1,723

Cash at bank and in hand

34,009

38,417

34,009

42,637

CREDITORS

Amounts falling due within one year

8

152,842

205,128

NET CURRENT LIABILITIES

(118,833

)

(162,491

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

356,684

204,974

PROVISIONS FOR LIABILITIES

18,742

5,159

NET ASSETS

337,942

199,815

CAPITAL AND RESERVES

Called up share capital

1

Fair value reserve

9

54,516

-

Retained earnings

283,425

199,814

337,942

199,815

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 director acknowledges her 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.

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 director and authorised for issue on 15 September 2025 and were signed by:

Ms A M Widdup - Director

1.	STATUTORY INFORMATION

The Cove (Yorkshire) Limited 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 as modified by the revaluation of certain assets.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in October 2018, is being amortized evenly over it estimated remaining 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 etc. - 2.5% SL, 25% SL, 20% SL, 33.33% SL

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

40,000

AMORTISATION

At 1 January 2024

12,000

Charge for year

4,000

At 31 December 2024

16,000

NET BOOK VALUE

At 31 December 2024

24,000

At 31 December 2023

28,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

357,000

60,887

417,887

Additions

-

13,031

Disposals

-

(5,084

)

(5,084

)

Reclassification/transfer

(357,000

)

-

(357,000

)

At 31 December 2024

-

68,834

DEPRECIATION

At 1 January 2024

43,896

34,526

78,422

Charge for year

-

12,003

Eliminated on disposal

(43,896

)

(4,212

)

(48,108

)

At 31 December 2024

-

42,317

NET BOOK VALUE

At 31 December 2024

-

26,517

At 31 December 2023

313,104

26,361

339,465

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Revaluations

68,000

Reclassification/transfer

357,000

At 31 December 2024

425,000

NET BOOK VALUE

At 31 December 2024

425,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

111,896

Cost

313,104

425,000

If investment property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

Cost

357,000

-

Aggregate depreciation

(43,896

)

-

Investment property was valued on an open market basis on 31 December 2024 by the director .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Other debtors

-

1,723

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

-

88

Taxation and social security

14,597

21,276

Other creditors

138,245

183,764

152,842

205,128

9.

RESERVES

Fair

value

reserve

£

Revaluations during year

68,000

Deferred tax charge

(13,484

)

At 31 December 2024

54,516