REGISTERED NUMBER: 05772069 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2025

FOR

UK CUSTOM COVERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Dance

Mrs T L Dance

SECRETARY:

Mrs T L Dance

REGISTERED OFFICE:

Unit 43

Standard Way

Fareham

Hampshire

PO16 8DX

REGISTERED NUMBER:

05772069 (England and Wales)

ACCOUNTANTS:

Compass Accountants Limited

Chartered Accountants

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

FIXED ASSETS

Tangible assets

4

603,246

573,965

Investments

5

200

2

603,446

573,967

CURRENT ASSETS

Stocks

6

1,033,348

1,445,535

Debtors

7

1,044,793

891,546

Cash at bank and in hand

43,615

41,007

2,121,756

2,378,088

CREDITORS

Amounts falling due within one year

8

1,976,563

2,423,685

NET CURRENT ASSETS/(LIABILITIES)

145,193

(45,597

)

TOTAL ASSETS LESS CURRENT LIABILITIES

748,639

528,370

CREDITORS

Amounts falling due after more than one year

9

(657,347

)

(197,310

)

PROVISIONS FOR LIABILITIES

(84,965

)

(86,086

)

NET ASSETS

6,327

244,974

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

6,325

244,972

SHAREHOLDERS' FUNDS

6,327

244,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th November 2025 and were signed on its behalf by:

S Dance - Director

1.	STATUTORY INFORMATION

UK Custom Covers 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Templates

-

Straight line over 10 years

Long leasehold improvements

-

Straight line over 5 years

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Website

-

Straight line over 5 years

Investments in subsidiaries

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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 Statement of Income and Retained Earnings, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Basic financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2024 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Long

leasehold

Plant and

Templates

improvements

machinery

£

£

£

COST

At 1st May 2024

155,604

298,963

100,477

Additions

8,589

30,484

91,934

Disposals

(6,387

)

-

-

At 30th April 2025

157,806

329,447

192,411

DEPRECIATION

At 1st May 2024

55,059

126,148

33,428

Charge for year

15,740

62,731

24,766

Eliminated on disposal

(6,387

)

-

-

At 30th April 2025

64,412

188,879

58,194

NET BOOK VALUE

At 30th April 2025

93,394

140,568

134,217

At 30th April 2024

100,545

172,815

67,049

Fixtures

and

Motor

fittings

vehicles

Website

Totals

£

£

£

£

COST

At 1st May 2024

161,217

145,357

73,396

935,014

Additions

37,372

54,849

-

223,228

Disposals

-

(36,848

)

(73,396

)

(116,631

)

At 30th April 2025

198,589

163,358

-

1,041,611

DEPRECIATION

At 1st May 2024

58,768

42,898

44,748

361,049

Charge for year

28,596

29,072

9,463

170,368

Eliminated on disposal

-

(32,454

)

(54,211

)

(93,052

)

At 30th April 2025

87,364

39,516

-

438,365

NET BOOK VALUE

At 30th April 2025

111,225

123,842

-

603,246

At 30th April 2024

102,449

102,459

28,648

573,965

5.	FIXED ASSET INVESTMENTS

UK

Wholesale

Ltd

£

COST

At 1st May 2024

2

Additions

198

At 30th April 2025

200

NET BOOK VALUE

At 30th April 2025

200

At 30th April 2024

2

6.

STOCKS

2025

2024

£

£

Stocks

1,033,348

1,445,535

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

29,501

27,653

Other debtors

1,015,292

863,893

1,044,793

891,546

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

662,469

867,323

Hire purchase contracts

51,237

18,088

Trade creditors

451,500

382,350

Amounts owed to group undertakings

203,769

220,262

Taxation and social security

470,184

797,344

Other creditors

137,404

138,318

1,976,563

2,423,685

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

452,842

77,425

Hire purchase contracts

204,505

119,885

657,347

197,310

10.	SECURED DEBTS

Bank borrowings are secured by a fixed and floating charge over the assets of the company by way of a debenture in favour of HSBC Bank PLC who are the company's bankers.

The company also has external borrowings with Funding Circle and Paypal which are secured via personal guarantees given by the directors.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th April 2025 and 30th April 2024:

2025

2024

£

£

S Dance and Mrs T L Dance

Balance outstanding at start of year

347,803

(34,954

)

Amounts advanced

481,830

393,792

Amounts repaid

(167,056

)

(11,035

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

662,577

347,803

Interest of 2.25% up to the 5th April 2025, and 3.75% up to 30th April 2025 has been charged on this loan and it is repayable on demand.