COVAIR STRUCTURES LIMITED


Directors	BROWN, Peter Graham
	REEMER, Ricky
	STEPHENSON, Robert Ben
	STRETHILL WRIGHT, Kimberley Erica


Registered Address	Abbey House
	25 Clarendon Rd
	Redhill
	RH1 1QZ


Registered Number	04251700 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue 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 transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue 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 transition can be measured reliably.

	Employee benefits
	The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Employee benefits

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Plant and machinery	25
	Vehicles	25

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stocks are stated at the lower of cost and net realisable value, being estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	8		8

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Total
	£	£	£
Cost or valuation
At 01 January 25	46,321	62,843	109,164
Additions	-	37,240	37,240
At 31 December 25	46,321	100,083	146,404
Depreciation and impairment
At 01 January 25	44,821	42,554	87,375
Charge for year	-	15,272	15,272
At 31 December 25	44,821	57,826	102,647
Net book value
At 31 December 25	1,500	42,257	43,757
At 31 December 24	1,500	20,289	21,789

4.	Stocks

	2025	2024
	£	£
Raw materials and consumables	24,571	20,000
Total	24,571	20,000

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	424,387	50,209
Other debtors	29,598	10,088
Prepayments and accrued income	79,937	25,909
Total	533,922	86,206

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	213,777	113,247
Taxation and social security	116,922	90,384
Other creditors	1,227	744
Accrued liabilities and deferred income	150,835	17,448
Total	482,761	221,823

7.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	54,618		29,722

8.	Related party transactions
	Debtors: Amounts Owed by Group Undertakings Included within debtors is an amount of £27,499.99 (2024: £Nil) due from a fellow group undertaking. The balance arose from funds advanced during the year and is unsecured, interest-free and repayable on demand. The directors have reviewed the recoverability of the balance and consider it to be fully recoverable. Accordingly, no impairment provision has been recognised.

Related party transactions

Debtors: Amounts Owed by Group Undertakings

Included within debtors is an amount of £27,499.99 (2024: £Nil) due from a fellow group undertaking.

The balance arose from funds advanced during the year and is unsecured, interest-free and repayable on demand.

The directors have reviewed the recoverability of the balance and consider it to be fully recoverable. Accordingly, no impairment provision has been recognised.

9.	Parent-subsidiary relationships
	The immediate and ultimate holding company of Covair Structures Ltd is Covair Holdings Ltd, a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business is 7 Davenport House, 207 Regent Street, London, England, W1B 3HH

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		43,757		21,789
			43,757		21,789
Current assets
Stocks	4	24,571		20,000
Debtors	5	533,922		86,206
Cash at bank and on hand		102,676		172,470
		661,169		278,676
Creditors amounts falling due within one year	6	(482,761)		(221,823)
Net current assets (liabilities)			178,408		56,853
Total assets less current liabilities			222,165		78,642
Creditors amounts falling due after one year			(54,618)		(29,722)
Net assets			167,547		48,920
Capital and reserves
Profit and loss account			167,547		48,920
Shareholders' funds			167,547		48,920