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Registration number: 08468296

Coveya Limited
Annual Report and Filleted Abridged Financial Statements
for the Year Ended 31 December 2024

Coveya Limited

Contents

Abridged Balance Sheet | 1
Notes to the Abridged Financial Statements | 2 to 6

Coveya Limited

(Registration number: 08468296)
Abridged Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 6 | 1,761,715 | 1,928,469
Current assets |  |  |
Stocks |  | 1,190,367 | 1,176,627
Debtors |  | 3,188,618 | 3,120,712
Cash at bank and in hand |  | 1,662,872 | 1,912,577
|  | 6,041,857 | 6,209,916
Creditors: Amounts falling due within one year |  | (928,935) | (1,466,969)
Net current assets |  | 5,112,922 | 4,742,947
Total assets less current liabilities |  | 6,874,637 | 6,671,416
Creditors: Amounts falling due after more than one year |  | (26,702) | (32,601)
Provisions for liabilities |  | (382,761) | (413,211)
Net assets |  | 6,465,174 | 6,225,604
Capital and reserves |  |  |
Called up share capital |  | 5 | 5
Profit and loss account |  | 6,465,169 | 6,225,599
Total equity |  | 6,465,174 | 6,225,604

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 1 October 2025 and signed on its behalf by:

Mr G I Herbert

Director

Coveya Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales (registered number 08468296).

The address of its registered office is:
Unit 1 St Ivel Way
Warmley
Bristol
BS30 8TY

These financial statements were authorised for issue by the Board on 1 October 2025.

2 | Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102.'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 1 October 2025 was D J Nicholas FCA, who signed for and on behalf of Moore Scarrott Audit Limited.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity and
Specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Coveya Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 25% reducing balance
Motor vehicles | 25% reducing balance
Fixtures and fittings | 15% reducing balance
Leasehold improvement | Over the length of the lease

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 10 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Coveya Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 64 (2023 - 57).

4 | Auditors' remuneration

| 2024 £ | 2023 £
Audit of the financial statements | 23,212 | 15,000

5 | Intangible assets

| Total £
Cost or valuation
At 1 January 2024 | 1,942,166
At 31 December 2024 | 1,942,166
Amortisation
At 1 January 2024 | 1,942,166
At 31 December 2024 | 1,942,166
Carrying amount
At 31 December 2024 | -

Coveya Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

6 | Tangible assets

| Total £
Cost or valuation
At 1 January 2024 | 3,151,304
Additions | 813,118
Disposals | (593,907)
At 31 December 2024 | 3,370,515
Depreciation
At 1 January 2024 | 1,222,835
Charge for the year | 424,005
Eliminated on disposal | (38,040)
At 31 December 2024 | 1,608,800
Carrying amount
At 31 December 2024 | 1,761,715
At 31 December 2023 | 1,928,469

Included within the net book value of land and buildings above is £180,622 (2023 - £204,516) in respect of short leasehold land and buildings.

7 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £471,605 (2023 - £260,980). Amounts payable under lease agreements are secured over the assets to which they relate.

Coveya Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

8 | Related party transactions

Advances to directors

Mr R Herbert During the period Mr R Herbert went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £52,146 (2023 - £9,310). At the year end the amount outstanding from Mr R Herbert was £52,146 (2023 - £1,810). Interest has been charged at the commercial rate.

Summary of transactions with parent

Coveya Holdings Limited
At the end of the period the amount due to the subsidiary from the parent was £1,720,070 (2023 - £1,423,954).

9 | Parent and ultimate parent undertaking

The company is a majority owned subsidiary of Coveya Holdings Limited, who are incorporated in England and Wales (registered number 13058556). Their registered office is Unit 1 St Ivel Way, Warmley, Bristol, United Kingdom, BS30 8TY. Coveya Holdings Limited prepare consolidated financial statements. These are available upon request from the company’s registered office or are publicly available at Companies House.
The ultimate controlling parties are Mr G I Herbert and Mrs A C Herbert.