| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 August 2025 |
| for |
| Covemist Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 August 2025 |
| for |
| Covemist Limited |
| Covemist Limited (Registered number: SC519711) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Covemist Limited |
| Company Information |
| for the Year Ended 31 August 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Radleigh House |
| 1 Golf Road |
| Clarkston |
| Glasgow |
| G76 7HU |
| Covemist Limited (Registered number: SC519711) |
| Statement of Financial Position |
| 31 August 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| Covemist Limited (Registered number: SC519711) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2025 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis. |
| Tangible fixed assets |
| Freehold property | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Investments in associates |
| Investments in associate undertakings are recognised at cost. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| 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. |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
| Creditors |
| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Covemist Limited (Registered number: SC519711) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2025 |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 3. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| Freehold | and | Motor |
| property | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 September 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2025 |
| DEPRECIATION |
| At 1 September 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2025 |
| NET BOOK VALUE |
| At 31 August 2025 |
| At 31 August 2024 |
| 4. | FIXED ASSET INVESTMENTS |
| Interest |
| in | Other |
| associate | investments | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 September 2024 | 2,435,574 |
| Additions | 427,670 |
| Revaluations | 353,844 |
| At 31 August 2025 | 3,217,088 |
| NET BOOK VALUE |
| At 31 August 2025 | 3,217,088 |
| At 31 August 2024 | 2,435,574 |
| Cost or valuation at 31 August 2025 is represented by: |
| Interest |
| in | Other |
| associate | investments | Totals |
| £ | £ | £ |
| Valuation in 2025 | - | 353,844 | 353,844 |
| Cost | 3,944 | 2,859,300 | 2,863,244 |
| 3,944 | 3,213,144 | 3,217,088 |
| Covemist Limited (Registered number: SC519711) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2025 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| Accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Directors' current accounts | 3,150 | 47,966 |
| Accrued expenses |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary Shares | £1 | 6,251 | 6,251 |
| 8. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 September 2024 |
| Profit for the year |
| At 31 August 2025 |