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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2025
Captain Cover Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and registered in England and Wales. The address of the Company's registered office and principal place of business is disclosed on the company information page.
The company's functional and presentational currency is GBP.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
At 30 May 2025 the Company had net liabilities of £967,611 (2024 - £961,928).
The Director has considered the impact of different scenarios on the financial position, results of operations and cash flows for the future. After considering these, the Director expects that the Company has adequate resources to operate within the level of its current facilities and continue in operational existence for the foreseeable future, along with the continuing financial support of related parties. As such these financial statements have been prepared on the going concern basis.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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The average monthly number of employees, including directors, during the year was 1 (2024 -1).
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