Registration number: 03205915

Cove Properties Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 8

Cove Properties Limited

(Registration number: 03205915)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,070	1,605
Other financial assets	5	76,209	242,904
		77,279	244,509
Current assets
Debtors	6	2,341	2,341
Cash at bank and in hand		676,757	503,384
		679,098	505,725
Creditors: Amounts falling due within one year	7	(39,753)	(33,873)
Net current assets		639,345	471,852
Net assets		716,624	716,361
Capital and reserves
Called up share capital	8	200	200
Revaluation reserve		-	89,447
Retained earnings		716,424	626,714
Shareholders' funds		716,624	716,361

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 December 2025
 

......................................... Mr Graham Martin Thomas Director

Cove Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

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

The address of its registered office is:
Bumblebee Cottage
Grange Lane
Hartley Wintney
Hampshire
RG27 8HH

These financial statements were authorised for issue by the director on 29 December 2025.

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.

Going concern

Judgements

The company uses the services of Canaccord Genuity to transact its share business. The Company similarly relies upon their professional services in relation to the revaluation of Fixed Asset Shares held as investments at the Company's year end.

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.

Cove Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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
Office Equipment	33.33% Straight Line Depreciation

Investments

The company holds a portfolio of quoted equity investments which are classified as non‑current financial assets.

These investments are measured at fair value through profit or loss in accordance with FRS 102 Section 1A and are presented within “Other financial assets” in the balance sheet.

Fair value is determined by reference to quoted market prices provided by the company’s professional trading platform, Canaccord Genuity, at the close of business on the last trading day before the year end.

The portfolio comprises listed shares in a number of UK and overseas companies.

All fair value measurements are based on quoted prices in active markets (Level 1 inputs in the FRS 102 fair value hierarchy).

The carrying amount of the company’s non‑current financial assets is analysed in Note 6 below:

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cove Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

Cove Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 April 2024	2,140	2,140
At 31 March 2025	2,140	2,140
Depreciation
At 1 April 2024	535	535
Charge for the year	535	535
At 31 March 2025	1,070	1,070
Carrying amount
At 31 March 2025	1,070	1,070
At 31 March 2024	1,605	1,605

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2024	93,138	93,138
Fair value adjustments	(16,929)	(16,929)
At 31 March 2025	76,209	76,209
Impairment
Carrying amount
At 31 March 2025	76,209	76,209

6

Debtors

Cove Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Current	2025 £	2024 £
Prepayments	91	91
Other debtors	2,250	2,250
	2,341	2,341

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Accruals and deferred income	39,600	33,600
Other creditors	153	273
	39,753	33,873

Cove Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	200	200	200	200

9

Dividends

		2025		2024
		£		£
Interim dividend of £Nil (2024 - £112.50) per ordinary share		-		22,500

10	Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

	2025 £	2024 £
Contributions paid to money purchase schemes	-	100,000

Dividends paid to the director

		2025 £		2024 £
Mr Graham Martin Thomas
Interim dividend		-		22,500

Summary of transactions with other related parties

Christopher Lee, Company Secretary An accrual has been included within these financial statements for the remuneration of Christopher Lee as follows:

Expenditure with and payables to related parties

2025	Other related parties £
Rendering of services	6,000

Cove Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2024	Other related parties £
Rendering of services	6,000