REGISTERED NUMBER: 10242088 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 20 DECEMBER 2024

FOR

SB(COV) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms E Antoniou

REGISTERED OFFICE:

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

REGISTERED NUMBER:

10242088 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Intangible assets

4

48,000

64,000

Tangible assets

5

129,002

123,689

177,002

187,689

CURRENT ASSETS

Stocks

243,000

275,000

Debtors

6

155,363

119,792

Cash at bank

29,377

94,378

427,740

489,170

CREDITORS

Amounts falling due within one year

7

367,532

426,231

NET CURRENT ASSETS

60,208

62,939

TOTAL ASSETS LESS CURRENT LIABILITIES

237,210

250,628

CREDITORS

Amounts falling due after more than one year

8

(128,677

)

(151,513

)

PROVISIONS FOR LIABILITIES

(28,812

)

(27,265

)

NET ASSETS

79,721

71,850

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

79,720

71,849

SHAREHOLDERS' FUNDS

79,721

71,850

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 20 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 20 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 17 September 2025 and were signed by:

Ms E Antoniou - Director

1.	STATUTORY INFORMATION

SB(Cov) 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.

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 2016, is being amortised evenly over its estimated useful life of five 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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 21 December 2023

and 20 December 2024

95,737

AMORTISATION

At 21 December 2023

31,737

Amortisation for year

16,000

At 20 December 2024

47,737

NET BOOK VALUE

At 20 December 2024

48,000

At 20 December 2023

64,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 21 December 2023

316,359

1,764

24,713

846

343,682

Additions

38,640

-

-

1,616

40,256

At 20 December 2024

354,999

1,764

24,713

2,462

383,938

DEPRECIATION

At 21 December 2023

196,714

1,301

21,872

106

219,993

Charge for year

33,740

115

710

378

34,943

At 20 December 2024

230,454

1,416

22,582

484

254,936

NET BOOK VALUE

At 20 December 2024

124,545

348

2,131

1,978

129,002

At 20 December 2023

119,645

463

2,841

740

123,689

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

103,146

89,062

Accrued income

44,557

9,435

Prepayments

7,660

21,295

155,363

119,792

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

45,757

46,952

Hire purchase contracts

27,990

27,990

Trade creditors

70,826

92,663

Tax

4,511

619

Social security and other taxes

28,955

56,378

Pension Liability

8,306

23,248

VAT

19,689

42,739

Other creditors

116,009

82,038

Accrued expenses

45,489

53,604

367,532

426,231

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-5 years

104,737

99,583

Hire purchase contracts

23,940

51,930

128,677

151,513