Registration number: 01976680

J.A. Cover Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

J.A. Cover Limited

(Registration number: 01976680)
Balance Sheet as at 5 April 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Tangible assets	4	1	1
Investments	5	4,700,000	4,349,999
		4,700,001	4,350,000
Current assets
Debtors	6	967,780	984,897
Cash at bank and in hand		117,831	49,089
		1,085,611	1,033,986
Creditors: Amounts falling due within one year	7	(547,029)	(665,692)
Net current assets		538,582	368,294
Total assets less current liabilities		5,238,583	4,718,294
Provisions for liabilities		(316,492)	(230,621)
Net assets		4,922,091	4,487,673
Capital and reserves
Called up share capital		3,700	3,700
Share premium reserve		530,400	530,400
Other reserves		949,475	691,863
Retained earnings		3,438,516	3,261,710
Shareholders' funds		4,922,091	4,487,673

J.A. Cover Limited

(Registration number: 01976680)
Balance Sheet as at 5 April 2025

For the financial year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 November 2025 and signed on its behalf by:
 

......................................... Mr J A M Cover Director

J.A. Cover Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Filkins Mill
Filkins
Lechlade
Gloucestershire
GL7 3RF

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Group accounts not prepared

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Changes in accounting policy

The following have been applied for the first time from 6 April 2024 and have had an effect on the financial statements:

Investments

The company has updated the accounting policy for investments. They were previously measured at cost less impairment but are now measured at market value, determined on an income yield basis. The Directors consider this to be a more accurate measurement of the value of their investment.

Revenue recognition

Turnover comprises the share of profit due from its investment in a Partnership in which it is the General Partner. The share of profit arises from Partnership Accounts for the accounting year ending on the same balance sheet date.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

J.A. Cover Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.
However, no provision has been made as it is not material.

Tangible assets

Land and buildings represent the residual value of the freehold reversion of a 999 year lease.

Investments

Investments in joint venture relate to an unincorporated partnerships. The investment is measured at market value, determined on an income yield basis. The valuation reflects the present value of expected rental income to be received by the partnership.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

J.A. Cover Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 5).

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 6 April 2024	1	1
At 5 April 2025	1	1
Depreciation
Carrying amount
At 5 April 2025	1	1
At 5 April 2024	1	1

Land and building represent a freehold reversion of a 999 year lease.

J.A. Cover Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

5	Investments

	2025 £	(As restated) 2024 £
Investments in joint ventures	4,700,000	4,349,999