Registration number:
Coveya Holdings Limited
for the Year Ended 31 December 2025
Coveya Holdings Limited
Contents
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Company Information |
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Group Strategic Report |
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Group Directors Report |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Statement of Comprehensive Income |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Statement of Cash Flows |
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Notes to the Financial Statements |
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Detailed Consolidated Profit and Loss Account |
Coveya Holdings Limited
Company Information
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Directors |
Mr G I Herbert Mrs A C Herbert |
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Registered office |
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Bankers |
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Auditors |
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Coveya Holdings Limited
Group Strategic Report for the Year Ended 31 December 2025
The Directors present their strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the Group is that of the hiring and selling of conveyor belts.
Fair review of the business
The directors consider the revenue and profits generated to be the group's key financial performance indicators ("KPI's").
The Group's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Gross profit margin |
% |
42.65 |
39.37 |
|
Profit before tax margin |
% |
8.4 |
4.3 |
|
Net assets |
£ |
8,844,813 |
7,731,377 |
Principal risks and uncertainties
The principal risks facing the Group are as follows:-
Supply chain disruptions - Due to global supply chain issues, including delays and shortages of raw materials, the conveyor belt sector faces challenges in maintaining production schedules and meeting customer demands.
Economic instability - Fluctuating economic conditions, including inflation and changes in interest rates, can impact the cost of production and capital expenditure, affecting profitability and investment capabilities.
Technological advancements - Rapid technological changes and the need for continual innovation pose a risk as companies must invest in new technologies to remain competitive and meet evolving customer expectations.
Regulatory changes - Ongoing changes in environmental and safety regulations can increase operational costs and necessitate additional investment in compliance measures.
Labour shortages - Difficulty in attracting and retaining skilled labour can hinder production efficiency and increase operational costs, impacting overall business performance.
To manage the risk, the Group strives to:-
• provide added-value products and services to its customers;
• provide prompt response times in the supply of products and services;
• invests heavily in research and development of new products and improvements to existing products; and
• maintains strong relationships with suppliers and customers alike.
Approved and authorised by the
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Coveya Holdings Limited
Group Directors Report for the Year Ended 31 December 2025
The Directors present their report and the for the year ended 31 December 2025.
Directors of the Group
The Directors who held office during the year were as follows:
Members of the Senior Management Team and Directors of the trading subsidiary, Coveya Limited are:-
Mr G I Herbert
Mr R Herbert
Mr W Herbert
Dividends
The directors paid an interim dividend payment of £379,052 be made in respect of the financial year ended 31 December 2025 (2024: £381,881). This dividend has not been recognised as a liability in the financial statements.
Financial instruments
Objectives and policies
The group has adopted policies in respect of achieving our objectives relating to financial instruments through a mixture of bank facilities including overdraft arrangements, hire purchase and finance lease arrangements.
Further details of financial instruments are given within the notes to the financial statements under note 2 - Accounting Policies.
Price risk, credit risk, liquidity risk and cash flow risk
Price risk - the majority of the Group's revenue derives from the hiring and selling of conveyor belts. As such the Group is exposed to the risk of changes to demand in the construction, waste management, manufacturing and agricultural sectors.
Credit risk - the Group supplies goods to other companies. Credit terms are offered to those customers. Coveya Limited (the trading subsidiary) has credit risk insurance in place to protect against the risk of default by those debtors.
Trading risk - the Group is exposed to the risk in change of importation legislation and demand following the United Kingdom's exit from the European Union.
Supply chain risk - the Group is also reliant on a good supply chain for belts and components without which the Group is unable to fulfil customer contracts.
Cash flow risk - risks of this nature generally arise from timing differences which arise during the Group's trading cycle. Any exceptional cash flow risks are mitigated by careful management of banking facilities, level of stock, trade debtors and trade creditors by the Groups experienced staff.
Coveya Holdings Limited
Group Directors Report for the Year Ended 31 December 2025
Statement of Directors' Responsibilities
The Directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of the profit or loss of the Group for that period. In preparing these financial statements, the Directors are required to:
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• |
select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. |
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Group's and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Future developments
The Group will continue to focus on strengthening its core operations in the hiring and selling of conveyor systems, with particular emphasis on expanding its customer base within the construction, recycling, and infrastructure sectors. Investment will continue in product innovation and service quality to ensure that the Group remains competitive and able to respond quickly to customer needs. The directors are also prioritising efficiency improvements, including enhancements to stock management and digital systems, to support sustainable growth and long-term profitability.
Research and development
The Group has invested in research and development to overcome a series of technological uncertainties in the sector. The Directors strive for a continual improvement of the Group’s product suite and to overcome issues raised by customers.
Disclosure of information to the auditor
Each Director has taken steps that they ought to have taken as a Director in order to make themselves aware of any relevant audit information and to establish that the Company's auditor is aware of that information. The Directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Approved and authorised by the
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Coveya Holdings Limited
Independent Auditor's Report to the Members of Coveya Holdings Limited
Opinion
We have audited the financial statements of Coveya Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the Group's and the parent Company's affairs as at 31 December 2025 and of the Group's profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
Other information
The Directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Coveya Holdings Limited
Independent Auditor's Report to the Members of Coveya Holdings Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Group Strategic Report and Group Directors Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Group Strategic Report and Group Directors Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the Group and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report and the Group Directors Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the Group, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the Group's financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of Directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of Directors
As explained more fully in the Statement of Directors' Responsibilities, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
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Obtain an understanding of internal control relevant to the audit of the Company in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. |
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
Coveya Holdings Limited
Independent Auditor's Report to the Members of Coveya Holdings Limited
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Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group, or the parent company’s, ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group, or the parent company, to cease to continue as a going concern. |
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Evaluate the overall presentation, structure and content of the financial statements of the Group, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
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Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision, and performance of the group audit. We remain solely responsible for our audit opinion. |
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We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide the directors with a statement that we have complied with relevant ethical requirements regarding independence and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
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The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
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We identified the laws and regulations applicable to the Group and the Parent Company, through discussions with directors and other management, and from our knowledge and experience of the sector; |
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We focussed on specific laws and regulations which we considered may have a direct material effect on the financial statements of the operations of the Group and the Parent Company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; |
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We assessed the extent of compliance with laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
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Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance through the audit. |
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We assessed the susceptibility of the Group and Parent Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
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Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; |
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Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and |
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Understanding the design of the Group and Parent Company’s remuneration policies. |
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To address the risk of fraud through management bias and override of controls, we: |
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Performed analytical procedures to identify any unusual or unexpected relationships; |
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Tested journal entries to identify unusual transactions; |
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Assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and |
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Investigated the rationale behind significant or unusual transactions. |
Coveya Holdings Limited
Independent Auditor's Report to the Members of Coveya Holdings Limited
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In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
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Agreeing financial statement disclosures to underlying supporting documentation; |
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Reading the minutes of meetings of those charged with governance; |
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Enquiring of management as to actual and potential litigation and claims; and |
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Reviewing correspondence with HMRC, relevant regulators and the Group and Parent Company’s legal advisors. |
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
South Road
Taunton
Somerset
TA1 3DU
Coveya Holdings Limited
Consolidated Profit and Loss Account for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
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|
Turnover |
|
|
|
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Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating profit |
|
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
( |
( |
|
|
(69,442) |
(46,764) |
||
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Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
|
|
|
Profit/(loss) attributable to: |
|||
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Owners of the Company |
|
|
|
|
Minority interests |
|
|
|
|
|
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The above results relate to continuing operations.
The Group has no recognised gains or losses for the year other than the results above.
Coveya Holdings Limited
Consolidated Statement of Comprehensive Income for the Year Ended 31 December 2025
|
2025 |
2024 |
|
|
Profit for the year |
|
|
|
Total comprehensive income for the year |
|
|
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Total comprehensive income attributable to: |
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Owners of the Company |
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Minority interests |
|
|
|
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Coveya Holdings Limited
(Registration number: 13058556)
Consolidated Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
|
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Fixed assets |
|||
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Intangible assets |
|
|
|
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Tangible assets |
|
|
|
|
|
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||
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Current assets |
|||
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Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
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Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
4 |
4 |
|
|
Share premium reserve |
7,589,891 |
7,589,891 |
|
|
Other reserves |
(32,531) |
(32,531) |
|
|
Retained earnings |
1,447,280 |
1,234,744 |
|
|
Equity attributable to owners of the company |
9,004,644 |
8,792,108 |
|
|
Minority interests |
(159,831) |
(169,634) |
|
|
Shareholders' funds |
8,844,813 |
8,622,474 |
Approved and authorised by the
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Coveya Holdings Limited
(Registration number: 13058556)
Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
- |
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Share premium reserve |
|
|
|
|
Retained earnings |
|
|
|
|
Shareholders' funds |
|
|
Approved and authorised by the
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Coveya Holdings Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 December 2025
Equity attributable to the parent company
|
Share capital |
Share premium |
Other reserves |
Retained earnings |
Total |
Non-controlling interests - Equity |
Total equity |
|
|
At 1 January 2025 |
|
|
( |
|
|
( |
|
|
Profit for the year |
- |
- |
- |
|
|
|
|
|
Dividends |
- |
- |
- |
( |
( |
- |
( |
|
At 31 December 2025 |
|
|
( |
|
|
( |
|
|
Share capital |
Share premium |
Other reserves |
Retained earnings |
Total |
Non-controlling interests - Equity |
Total equity |
|
|
At 1 January 2024 |
|
|
( |
|
|
( |
|
|
Profit for the year |
- |
- |
- |
|
|
|
|
|
Dividends |
- |
- |
- |
( |
( |
- |
( |
|
At 31 December 2024 |
4 |
7,589,891 |
(32,531) |
1,234,744 |
8,792,108 |
(169,634) |
8,622,474 |
Coveya Holdings Limited
Statement of Changes in Equity for the Year Ended 31 December 2025
|
Share capital |
Share premium |
Retained earnings |
Total |
|
|
At 1 January 2025 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
Share capital |
Share premium |
Retained earnings |
Total |
|
|
At 1 January 2024 |
|
|
|
|
|
Loss for the year |
- |
- |
( |
( |
|
At 31 December 2024 |
4 |
7,589,891 |
141,482 |
7,731,377 |
Coveya Holdings Limited
Consolidated Statement of Cash Flows for the Year Ended 31 December 2025
|
Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Loss on disposal of tangible assets |
|
|
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Decrease/(increase) in stocks |
|
( |
|
|
(Increase)/decrease in debtors |
( |
|
|
|
Increase/(decrease) in creditors |
|
( |
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
- |
|
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Payments for redeemed perference shares |
- |
( |
|
|
Payments to finance lease creditors |
( |
( |
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net decrease in cash and cash equivalents |
( |
( |
|
|
Cash and cash equivalents at 1 January |
|
|
|
|
Cash and cash equivalents at 31 December |
1,362,723 |
1,905,667 |
|
Coveya Holdings Limited
Statement of Cash Flows for the Year Ended 31 December 2025
|
Note |
2025 |
2024 |
|
|
Cash flows from operating activities |
|||
|
Profit/(loss) for the year |
|
( |
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
(Increase)/decrease in debtors |
( |
|
|
|
(Decrease)/increase in creditors |
( |
|
|
|
Cash generated from operations |
( |
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
( |
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Payments for redeemed perference shares |
- |
( |
|
|
Dividends paid |
( |
- |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net (decrease)/increase in cash and cash equivalents |
( |
|
|
|
Cash and cash equivalents at 1 January |
|
|
|
|
Cash and cash equivalents at 31 December |
7 |
242,795 |
|
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
General information |
The Company is a private company limited by share capital, incorporated in England and Wales (registered number 13058556).
The address of its registered office is:
These financial statements were authorised for issue by the
|
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 were prepared in accordance with Financial Reporting Standard 102. 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the Company and its subsidiary undertakings drawn up to 31 December 2025.
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
A subsidiary is an entity controlled by the Company. Control is achieved where the Company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the Group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the Group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the Company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
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 the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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 |
|
Freehold Property |
2% Straight Line |
|
Plant and machinery |
25% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
Fixtures and fittings |
15% reducing balance |
|
Leasehold improvement |
Over the length of the lease |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated impairment losses. The goodwill is tested annually for impariment.
Investments
Investments in equity shares where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit or loss account. Investments in equity shares where fair value cannot be measured reliably are measured at cost less impairment.
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 Group will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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 Group 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.
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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 Group’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 Group 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.
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
3 Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However the nature of estimation means that actual outcomes could differ from those estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects that period, or in the period of revision and future periods if the revision affects both current and future periods. The critical judgements and key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.
Critical judgements
Depreciation rates and residual values
Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing assets lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Sources of estimation uncertainty
Impairment of fixed assets
The company determines whether there are indicators of impairment of tangible asset. Factors taken into account consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.
Stock provision
The company determines whether there are conditions that exist at the balance sheet date that indicates that the net realisable value of individual stock lines are less than the carrying value. Such indicators include post year end sales, and market demand.
Bad debt provision
The company determines whether there are conditions that exist at the balance sheet date that indicates the recoverable value of debtors is less than the carrying value. Such indicators include post year end cash receipts, and customer sales activity.
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Revenue |
The analysis of the Group's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
|
Rendering of services |
|
|
|
|
|
All turnover arose within the United Kingdom.
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Operating lease expense - plant and machinery |
|
|
|
Loss on disposal of property, plant and equipment |
- |
|
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Other finance income |
|
|
|
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Interest expense on other finance liabilities |
|
|
|
|
|
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Staff costs |
The aggregate payroll costs (including Directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the Company (including Directors) during the year, was 64 (2024 - 57).
|
Directors' remuneration |
The Directors' remuneration for the year was as follows:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
97,710 |
159,022 |
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
24,400 |
23,212 |
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
( |
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Tax increase/(decrease) in relation to deferred tax |
|
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Tax increase from consolidation adjustments |
|
|
|
Tax decrease from other tax effects |
( |
( |
|
Total tax charge |
|
|
12 Parent company profit for the year
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent Company for the year was £179,153 (2024: £5,931 loss).
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Intangible assets |
Group
|
Goodwill |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2025 |
|
|
|
At 31 December 2025 |
|
|
|
Amortisation |
||
|
At 1 January 2025 |
|
|
|
Amortisation charge |
|
|
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
|
|
|
At 31 December 2024 |
|
|
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
Group
|
Land and buildings |
Short leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
|
|
Cost or valuation |
||||||
|
At 1 January 2025 |
|
|
|
|
|
|
|
Additions |
- |
|
|
|
- |
|
|
Disposals |
- |
- |
- |
( |
- |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
|
Depreciation |
||||||
|
At 1 January 2025 |
|
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
- |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
|
Carrying amount |
||||||
|
At 31 December 2025 |
|
|
|
|
|
|
|
At 31 December 2024 |
|
|
|
|
|
|
Included within the net book value of land and buildings above is £2,470,950 (2024 - £2,525,860) in respect of freehold land and buildings and £155,096 (2024 - £180,622) in respect of short leasehold land and buildings.
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Company
|
Land and buildings |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2025 |
|
|
|
At 31 December 2025 |
|
|
|
Depreciation |
||
|
At 1 January 2025 |
|
|
|
Charge for the year |
|
|
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
|
|
|
At 31 December 2024 |
|
|
Included within the net book value of land and buildings above is £2,470,950 (2024 - £2,525,860) in respect of freehold land and buildings.
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 January 2025 |
|
|
Provision |
|
|
Carrying amount |
|
|
At 31 December 2025 |
|
|
At 31 December 2024 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the Company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
Unit 1 St Ivel Way
England and Wales |
|
|
|
Subsidiary undertakings
Coveya Limited
The principal activity of Coveya Limited is is that of the hiring and selling of conveyor belts.
The consolidated financial statements include all subsidiaries transactions and balances, with intercompany transactions eliminated in full.
|
Stocks |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Stock |
|
|
- |
- |
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Debtors |
|
Group |
Company |
||||
|
Current |
Note |
2025 |
2024 |
2025 |
2024 |
|
Trade debtors |
|
|
- |
- |
|
|
Amounts owed by related parties |
|
- |
- |
- |
|
|
Other debtors |
|
|
|
- |
|
|
Prepayments |
|
|
- |
- |
|
|
|
|
|
- |
||
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash at bank and on hand |
|
|
|
|
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
|||||
|
HP and finance lease liabilities |
4,600 |
5,000 |
- |
- |
|
|
Trade creditors |
|
|
|
- |
|
|
Other related parties |
- |
|
|
|
|
|
Social security and other taxes |
|
|
|
|
|
|
Other payables |
|
|
|
|
|
|
Income tax liability |
161,145 |
258,232 |
8,676 |
15,959 |
|
|
|
|
|
|
||
|
Due after one year |
|||||
|
Other borrowings |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
|
HP and finance lease liabilities |
23,285 |
26,702 |
- |
- |
|
|
|
|
|
|
||
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
At 31 December 2025 |
|
|
|
|
||
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Pension and other schemes |
Defined contribution pension scheme
The Group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Group to the scheme and amounted to £
Contributions totalling £7,262 (2024 - £7,038) were payable to the scheme at the end of the year and are included in creditors.
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
Ordinary A of £1 each |
1 |
1 |
1 |
1 |
|
Ordinary B of £1 each |
1 |
1 |
1 |
1 |
|
Ordinary C of £0.00 each |
9,755 |
1 |
9,755 |
1 |
|
Ordinary D of £0.00 each |
9,755 |
1 |
9,755 |
1 |
|
|
|
|
|
|
Redeemable preference shares
The company has in issue £1,000,000 redeemable preference shares of £1 each. These shares are redeemable at the option of the shareholders. The redemption price per share is £1.
|
Loans and borrowings |
Non-current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Hire purchase contracts |
|
|
- |
- |
|
Redeemable preference shares |
|
|
|
|
|
|
|
|
|
|
Current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Hire purchase contracts |
|
|
- |
- |
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Obligations under leases and hire purchase contracts |
Group
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Related party transactions |
Group
|
Transactions with Directors |
|
2025 |
At 1 January 2025 |
Advances to Director |
Repayments by Director |
At 31 December 2025 |
|
Mr G I Herbert |
||||
|
|
( |
|
( |
|
|
|
- |
- |
- |
- |
|
(2,962) |
2,761,536 |
(2,432,443) |
326,131 |
|
Overdrawn directors loans are unsecured, repayable on demand, and carried interest at a rate of 3.75% per annum, in line with HMRC's official rate of interest. The loans, together with any accrued interest, were repaid in full within nine months of the balance sheet date.
Summary of transactions with other related parties
Orchard Willow Lodge
At the end of the period the amount due to the Group from Orchard Willow Lodge was £400,000 (2024 - £nil).
The balance relates to intercompany loans and is interest free and repayable on demand.
Coveya Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Company
Summary of transactions with subsidiaries
Coveya Limited
|
Parent and ultimate parent undertaking |
The group’s ultimate parent is Coveya Holdings Limited, who are incorporated in England and Wales (registered number 13058556). Their registered office is Unit 1 St Ivel Way, Warmley, Bristol, United Kingdom, BS30 8TY. Coveya Holdings Limited prepare consolidated financial statements. These are available upon request from the company’s registered office or are publicly available at Companies House.
The ultimate controlling parties are Mr G I Herbert and Mrs A C Herbert.
Coveya Holdings Limited
Detailed Consolidated Profit and Loss Account for the Year Ended 31 December 2025
|
2025 |
2024 |
|
|
Turnover (analysed below) |
11,177,834 |
11,324,004 |
|
Cost of sales (analysed below) |
(6,410,409) |
(6,865,656) |
|
Gross profit |
4,767,425 |
4,458,348 |
|
Gross profit (%) |
42.65% |
39.37% |
|
Administrative expenses |
||
|
Employment costs (analysed below) |
(1,329,800) |
(1,335,664) |
|
Establishment costs (analysed below) |
(859,512) |
(865,329) |
|
General administrative expenses (analysed below) |
(972,670) |
(1,138,638) |
|
Finance charges (analysed below) |
(30,798) |
(13,064) |
|
Depreciation costs (analysed below) |
(566,720) |
(571,944) |
|
(3,759,500) |
(3,924,639) |
|
|
Operating profit |
1,007,925 |
533,709 |
|
Other interest receivable and similar income (analysed below) |
54,448 |
81,792 |
|
Interest payable and similar expenses (analysed below) |
(123,890) |
(128,556) |
|
(69,442) |
(46,764) |
|
|
Profit before tax |
938,483 |
486,945 |
Coveya Holdings Limited
Detailed Consolidated Profit and Loss Account for the Year Ended 31 December 2025
|
2025 |
2024 |
|
Turnover |
||
|
Sale of goods, UK |
4,012,662 |
3,621,588 |
|
Rendering of services, UK |
5,964,897 |
6,662,040 |
|
Other income |
492,004 |
433,037 |
|
Part sales |
708,271 |
607,339 |
|
11,177,834 |
11,324,004 |
|
Cost of sales |
||
|
Opening raw materials |
(1,190,367) |
(1,176,628) |
|
Purchases |
(3,233,910) |
(3,621,221) |
|
Direct costs |
- |
(140) |
|
Closing raw materials |
1,180,841 |
1,190,367 |
|
Wages and salaries (excluding directors) |
(2,048,780) |
(2,037,341) |
|
Subcontract cost |
(92,267) |
(220,414) |
|
Freight and carriage |
(627,770) |
(649,740) |
|
Hire of plant and machinery (Spot hire) |
(102,726) |
(83,736) |
|
Depreciation of plant and machinery |
(295,430) |
(263,328) |
|
(Profit)/loss on disposal of tangible fixed assets |
- |
(3,475) |
|
(6,410,409) |
(6,865,656) |
|
Employment costs |
||
|
Wages and salaries (excluding directors) |
(1,089,283) |
(965,752) |
|
Staff NIC (Employers) |
(4,534) |
(8,716) |
|
Directors remuneration |
(37,710) |
(39,147) |
|
Staff pensions (Defined contribution) |
(106,552) |
(167,848) |
|
Directors pensions (Defined contribution) |
(60,000) |
(119,875) |
|
Staff training |
(31,721) |
(34,326) |
|
(1,329,800) |
(1,335,664) |
|
Establishment costs |
||
|
Rent and rates |
(484,021) |
(478,692) |
|
Water rates |
(37,130) |
(36,736) |
|
Light, heat and power |
(60,830) |
(79,337) |
|
Insurance |
(107,914) |
(94,454) |
|
Repairs and maintenance |
(45,821) |
(55,603) |
|
Repairs and renewals |
(123,796) |
(120,507) |
|
(859,512) |
(865,329) |
|
General administrative expenses |
||
|
Telephone and fax |
(19,508) |
(18,326) |
|
Printing, postage and stationery |
(8,647) |
(9,628) |
|
Trade subscriptions |
(40,897) |
(31,395) |
|
Charitable donations |
(21,400) |
(28,416) |
Coveya Holdings Limited
Detailed Consolidated Profit and Loss Account for the Year Ended 31 December 2025
|
2025 |
2024 |
|
Sundry expenses |
(31,964) |
(26,421) |
|
Cleaning |
(56,754) |
(54,560) |
|
Petrol or diesel |
(116,194) |
(134,286) |
|
Motor repairs and renewals |
(15,975) |
(17,253) |
|
Car hire and leasing expenses (Operating leases) |
(253,915) |
(227,802) |
|
Travel and subsistence |
(68,725) |
(74,494) |
|
Advertising |
(162,561) |
(238,003) |
|
Accountancy fees |
(53,404) |
(36,820) |
|
Auditor's remuneration - The audit of the company's annual accounts |
(24,400) |
(23,212) |
|
Consultancy fees |
(10,476) |
(90,424) |
|
Legal and professional fees |
(20,577) |
(21,112) |
|
Bad debts written off |
(67,273) |
(106,486) |
|
(972,670) |
(1,138,638) |
|
Finance charges |
||
|
Bank charges |
(30,798) |
(13,064) |
|
Depreciation costs |
||
|
Amortisation of goodwill |
(356,359) |
(356,359) |
|
Depreciation of freehold property |
(54,910) |
(54,910) |
|
Depreciation of short leasehold property |
(45,374) |
(23,895) |
|
Depreciation of plant and machinery (owned) |
(28,314) |
(47,946) |
|
Depreciation of fixtures and fittings (owned) |
(71,900) |
(81,459) |
|
Depreciation of motor vehicles (owned) |
(9,863) |
(7,375) |
|
(566,720) |
(571,944) |
|
Other interest receivable and similar income |
||
|
Bank interest receivable |
46,792 |
75,071 |
|
Other interest receivable |
7,656 |
6,721 |
|
54,448 |
81,792 |
|
Interest payable and similar expenses |
||
|
Hire purchase interest |
(3,890) |
(4,571) |
|
Other interest payable |
(120,000) |
(123,985) |
|
(123,890) |
(128,556) |