IRIS Accounts Production v26.1.0.640 09602269 Board of Directors 1.1.25 31.12.25 31.12.25 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 09602269 2024-12-31 09602269 2025-12-31 09602269 2025-01-01 2025-12-31 09602269 2023-12-31 09602269 2024-01-01 2024-12-31 09602269 2024-12-31 09602269 ns15:EnglandWales 2025-01-01 2025-12-31 09602269 ns14:PoundSterling 2025-01-01 2025-12-31 09602269 ns10:Director1 2025-01-01 2025-12-31 09602269 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 09602269 ns10:SmallEntities 2025-01-01 2025-12-31 09602269 ns10:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 09602269 ns10:SmallCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 09602269 ns10:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 09602269 ns10:FullAccounts 2025-01-01 2025-12-31 09602269 1 2025-01-01 2025-12-31 09602269 ns10:Director2 2025-01-01 2025-12-31 09602269 ns10:Director3 2025-01-01 2025-12-31 09602269 ns10:RegisteredOffice 2025-01-01 2025-12-31 09602269 ns5:CurrentFinancialInstruments 2025-12-31 09602269 ns5:CurrentFinancialInstruments 2024-12-31 09602269 ns5:Non-currentFinancialInstruments 2025-12-31 09602269 ns5:Non-currentFinancialInstruments 2024-12-31 09602269 ns5:ShareCapital 2025-12-31 09602269 ns5:ShareCapital 2024-12-31 09602269 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 09602269 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 09602269 ns5:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 09602269 ns5:FurnitureFittings 2025-01-01 2025-12-31 09602269 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 09602269 ns5:ComputerSoftware 2024-12-31 09602269 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-01 2025-12-31 09602269 ns5:ComputerSoftware 2025-01-01 2025-12-31 09602269 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-12-31 09602269 ns5:ComputerSoftware 2025-12-31 09602269 ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 09602269 ns5:ComputerSoftware 2024-12-31 09602269 ns5:FurnitureFittings 2024-12-31 09602269 ns5:FurnitureFittings 2025-12-31 09602269 ns5:FurnitureFittings 2024-12-31 09602269 ns5:AdditionsToInvestments 2025-12-31 09602269 ns5:CostValuation 2025-12-31 09602269 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 09602269 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 09602269 ns5:CurrentFinancialInstruments 2025-01-01 2025-12-31 09602269 ns5:Non-currentFinancialInstruments 2025-01-01 2025-12-31 09602269 ns5:DeferredTaxation 2024-12-31 09602269 ns5:DeferredTaxation 2025-01-01 2025-12-31 09602269 ns5:DeferredTaxation 2025-12-31

REGISTERED NUMBER: 09602269 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| Coverdrone Limited |

| Coverdrone Limited (Registered number: 09602269) |

Contents of the Financial Statements

for the year ended 31 December 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| Coverdrone Limited |

Company Information

for the year ended 31 December 2025

| DIRECTORS: | S D E Heath

| P J Heath

| A P Heath

| REGISTERED OFFICE: | Arrowscroft

| 142 Nantwich Road

| Crewe

| Cheshire

| CW2 6BG

| REGISTERED NUMBER: | 09602269 (England and Wales)

| ACCOUNTANTS: | Banks Sheridan

| Datum House

| Electra Way

| Crewe

| Cheshire

| CW1 6ZF

| Coverdrone Limited (Registered number: 09602269) |

Statement of Financial Position

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 5 | 66,345 |  | 82,479 |  |

Tangible assets | 6 | 46,611 |  | 34,639 |  |

Investments | 7 | 1,817,624 |  | 1,817,624 |  |

1,930,580 |  | 1,934,742 |  |

CURRENT ASSETS

Debtors | 8 | 154,825 |  | 121,412 |  |

Cash at bank | 495,315 |  | 484,994 |  |

650,140 |  | 606,406 |  |

CREDITORS

Amounts falling due within one year | 9 | (567,031 | ) | (284,014 | ) |

NET CURRENT ASSETS | 83,109 |  | 322,392 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,013,689 |  | 2,257,134 |  |

CREDITORS

Amounts falling due after more than one year | 10 | (481,656 | ) | (1,358,981 | ) |

PROVISIONS FOR LIABILITIES | 11 | (10,979 | ) | (8,659 | ) |

NET ASSETS | 1,521,054 |  | 889,494 |  |

CAPITAL AND RESERVES

Called up share capital | 43,098 |  | 43,098 |  |

Retained earnings | 1,477,956 |  | 846,396 |  |

1,521,054 |  | 889,494 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

| Coverdrone Limited (Registered number: 09602269) |

Statement of Financial Position - continued

31 December 2025

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2026 and were signed on its behalf by:

S D E Heath - Director

| Coverdrone Limited (Registered number: 09602269) |

Notes to the Financial Statements

for the year ended 31 December 2025

1. | STATUTORY INFORMATION

| Coverdrone Limited ('The Company') is primarily engaged in drone insurance. It's operations are regulated by the Financial Conduct Authority.

| The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and of the registered office is Arrowscroft, 142 Nantwich Road, Crewe, Cheshire, CW2 6BG. The registered number can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Summary of significant accounting policies

| The principle accounting policies applied in the preparation of these financial statements are set out below.

| These policies have been consistently applied to all years presented, unless otherwise stated.

| Basis of preparation

| The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006. The financial statements cover the results and affairs of the company only. Consolidated accounts showing the results and affairs of the group are not presented.

| Going concern

| No material uncertainties that may cast doubt about the ability of the company to continue as a going concern have been identified by the directors.

| Therefore, the directors consider it appropriate to prepare the financial statements on the going concern basis.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Intangible assets

| Intangible fixed assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is charged to administrative expenses in the Statement of Comprehensive Income. Amortisation is calculated using the straight line method, to allocate the depreciable amount of the assets over their estimated useful lives as follows:

| Website costs |  | - 5 years |  |

| Computer software |  | - 5 years |  |

| All intangible fixed assets are subject to an annual review for diminution in value.

| Tangible fixed assets

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

| Fixtures and fittings | - | 15% on reducing balance

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Coverdrone Limited (Registered number: 09602269) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 end of the financial year.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the end of the financial year.

| 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 end of the financial year. 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.

| Impairment of assets

| Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

| Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

| Fixed asset investments

| Investments in the share of group companies are shown at cost less any impairment loss.

| Investment income from shares in group companies is included in other income

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 12 (2024 - 12 ) .

| Coverdrone Limited (Registered number: 09602269) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

5. | INTANGIBLE FIXED ASSETS

| Website |  | Computer |

| costs |  | software |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 255,061 |  | 2,044 |  | 257,105 |  |

| Additions | 33,229 |  | - |  | 33,229 |  |

| At 31 December 2025 | 288,290 |  | 2,044 |  | 290,334 |  |

| AMORTISATION

| At 1 January 2025 | 172,888 |  | 1,738 |  | 174,626 |  |

| Amortisation for year | 49,057 |  | 306 |  | 49,363 |  |

| At 31 December 2025 | 221,945 |  | 2,044 |  | 223,989 |  |

| NET BOOK VALUE

| At 31 December 2025 | 66,345 |  | - |  | 66,345 |  |

| At 31 December 2024 | 82,173 |  | 306 |  | 82,479 |  |

6. | TANGIBLE FIXED ASSETS

| Fixtures

| and

| fittings

£ |

| COST

| At 1 January 2025 | 51,296 |  |

| Additions | 19,143 |  |

| At 31 December 2025 | 70,439 |  |

| DEPRECIATION

| At 1 January 2025 | 16,657 |  |

| Charge for year | 7,171 |  |

| At 31 December 2025 | 23,828 |  |

| NET BOOK VALUE

| At 31 December 2025 | 46,611 |  |

| At 31 December 2024 | 34,639 |  |

7. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| Additions | 1,817,624 |  |

| At 31 December 2025 | 1,817,624 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1,817,624 |  |

| Coverdrone Limited (Registered number: 09602269) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 109,690 |  | 95,931 |  |

| Other debtors | 45,135 |  | 25,481 |  |

154,825 |  | 121,412 |  |

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 44,293 |  | 16,163 |  |

| Taxation and social security | 51,141 |  | 58,591 |  |

| Other creditors | 471,597 |  | 209,260 |  |

567,031 |  | 284,014 |  |

| Amounts owed to related parties are unsecured, interest free and repayable on demand.

10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Amounts owed to group undertakings | 481,656 |  | 489,603 |  |

| Other creditors | - |  | 869,378 |  |

481,656 |  | 1,358,981 |  |

| Amounts owed to group undertakings and related parties are unsecured, interest free and repayable on demand.

11. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 10,979 |  | 8,659 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 8,659 |  |

| Charge to Income Statement during year | 2,320 |  |

| Balance at 31 December 2025 | 10,979 |  |

12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| An amount of £103,691 (2024: £715,560) owed to the directors is included within creditors: amounts falling due within one year. Interest of £20,336 (2024: £63,223) has been charged to the company on these directors' loans during the year.

| During the year rent paid to a partnership connected to the directors by the company amounted to £26,400 (2024: £17,600).

| Coverdrone Limited (Registered number: 09602269) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

13. | RELATED PARTY DISCLOSURES

| Transactions with related parties, including group undertakings, during the period and balances outstanding at the end of the reporting period were as follows:

| Group company:

|  | 2025 |  |  | 2024 |

|  | £ |  |  | £ |

| Costs shared |  | 281,086 |  | 247,102 |

| Amounts due to entities |  | 481,656 |  | 489,603 |

| Company under common control

|  | 2025 |  |  | 2024 |

|  | £ |  |  | £ |

| Amounts due to entities |  | 273,937 |  | 269,378 |