COVAIR STRUCTURES LIMITED


Directors	STRETHILL WRIGHT, Alec John
	STRETHILL WRIGHT, Helen Irene


Company Secretary	STRETHILL WRIGHT, Helen Irene


Registered Address	Abbey House
	25 Clarendon Rd
	Redhill
	RH1 1QZ


Registered Number	04251700 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	4		21,789		30,876
			21,789		30,876
Current assets
Stocks	5	20,000		88,035
Debtors	6	86,206		2,172,736
Cash at bank and on hand		172,470		161,014
		278,676		2,421,785
Creditors amounts falling due within one year	7	(221,823)		(441,987)
Net current assets (liabilities)			56,853		1,979,798
Total assets less current liabilities			78,642		2,010,674
Creditors amounts falling due after one year	8		(29,722)		(35,946)
Provisions for liabilities	10		-		(7,655)
Net assets			48,920		1,967,073
Capital and reserves
Profit and loss account			48,920		1,967,073
Shareholders' funds			48,920		1,967,073

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 29 September 2025, and are signed on its behalf by:

STRETHILL WRIGHT, Helen Irene
Director
Registered Company No. 04251700

COVAIR STRUCTURES LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Employee benefits
	The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Employee benefits

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Plant and machinery	25
	Vehicles	25

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stocks are stated at the lower of cost and net realisable value, being estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	8		7

3.	Intangible assets

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Total
	£	£	£
Cost or valuation
At 01 January 24	49,572	62,843	112,415
Additions	1,499	-	1,499
Disposals	(4,750)	-	(4,750)
At 31 December 24	46,321	62,843	109,164
Depreciation and impairment
At 01 January 24	49,572	31,967	81,539
Charge for year	-	10,586	10,586
On disposals	(4,750)	-	(4,750)
At 31 December 24	44,822	42,553	87,375
Net book value
At 31 December 24	1,499	20,290	21,789
At 31 December 23	-	30,876	30,876

5.	Stocks

	2024	2023
	£	£
Raw materials and consumables	20,000	40,996
Work in progress	-	47,039
Total	20,000	88,035

6.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	50,209	46,349
Amounts owed by group undertakings	-	2,100,068
Other debtors	10,088	504
Prepayments and accrued income	25,909	25,815
Total	86,206	2,172,736

7.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	113,247	111,132
Bank borrowings and overdrafts	-	8,801
Taxation and social security	90,384	62,916
Other creditors	744	830
Accrued liabilities and deferred income	17,448	258,308
Total	221,823	441,987

8.	Creditors: amounts due after one year

	2024	2023
	£	£
Other creditors	29,722	35,946
Total	29,722	35,946

9.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	29,722		35,946

10.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	-	7,655
Total	-	7,655

11.	Parent-subsidiary relationships
	The immediate and ultimate holding company of Covair Structures Ltd is Covair Holdings Ltd, a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business is Unit 9, Redhill 23 Business Park, 29 Holmethorpe Avenue. Redhill, Surrey RH1 2GD.