Loose Covers Yorkshire Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 08015108

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		881		1,083

			881		1,083
CURRENT ASSETS
Debtors	5	17,370		17,557
Cash at bank and in hand		4,254		9,260

		21,624		26,817
Creditors: Amounts Falling Due Within One Year	6	(19,883 )		(22,817 )

NET CURRENT ASSETS (LIABILITIES)			1,741		4,000

TOTAL ASSETS LESS CURRENT LIABILITIES			2,622		5,083

Creditors: Amounts Falling Due After More Than One Year	7		(1,000 )		(5,000 )

NET ASSETS			1,622		83

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			1,522		(17 )

SHAREHOLDERS' FUNDS			1,622		83

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Loose Covers Yorkshire Ltd

Balance Sheet (continued)

As At 30 April 2025

For the year ending 30 April 2025 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Michael Lumb

Director

30/05/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Loose Covers Yorkshire Ltd Registered number 08015108 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 2, Station Road, Masborough, Rotherham, S60 1HN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Reducing Balance
Motor Vehicles	20% Reducing Balance
Computer Equipment	15% Reducing Balance

2.4. Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

2.5. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 5)

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 May 2024	8,000	1,948	9,948

As at 30 April 2025	8,000	1,948	9,948

Depreciation
As at 1 May 2024	7,207	1,658	8,865
Provided during the period	159	43	202

As at 30 April 2025	7,366	1,701	9,067

Net Book Value
As at 30 April 2025	634	247	881

As at 1 May 2024	793	290	1,083

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Loose Covers Yorkshire Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	2,749
Other debtors	12,900	11,100
Corporation tax recoverable assets	4,315	3,708
VAT Control	155	-

	17,370	17,557

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,061	364
Bank loans and overdrafts	4,000	4,000
Corporation tax	10,755	14,701
Other taxes and social security	1,947	1,431
VAT Control	-	364
Vat Suspense	1,641	1,414
Accruals and deferred income	355	354
Directors' loan accounts	124	189

	19,883	22,817

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	1,000	5,000

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 May 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 April 2025
	£	£	£	£	£
Mr Michael Lumb	5,600	900	-	-	6,500
Mrs Sarah Bunce	5,500	900	-	-	6,400

The above loan is unsecured, interest free and repayable on demand.

Dividends paid to directors

	2025	2024
	£	£
Mr Michael Lumb	6,400	10,435
Mrs Sarah Bunce	6,400	10,435

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Loose Covers Yorkshire Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

10. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	12,800	20,870