REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2021 |
|
FOR |
|
1ST COVERALL COMPANY LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2021 |
|
FOR |
|
1ST COVERALL COMPANY LIMITED |
1ST COVERALL COMPANY LIMITED (REGISTERED NUMBER: 04146587) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2021 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 4 |
|
1ST COVERALL COMPANY LIMITED |
|
COMPANY INFORMATION |
for the Year Ended 31 March 2021 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
19 North Street |
Ashford |
Kent |
TN24 8LF |
1ST COVERALL COMPANY LIMITED (REGISTERED NUMBER: 04146587) |
|
STATEMENT OF FINANCIAL POSITION |
31 March 2021 |
|
31.3.21 | 31.3.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 9 |
|
|
Retained earnings | 10 |
|
|
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. |
1ST COVERALL COMPANY LIMITED (REGISTERED NUMBER: 04146587) |
|
STATEMENT OF FINANCIAL POSITION - continued |
31 March 2021 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
1ST COVERALL COMPANY LIMITED (REGISTERED NUMBER: 04146587) |
|
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2021 |
|
|
1. | STATUTORY INFORMATION |
|
1st Coverall Company Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
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 assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
|
|
|
Tangible fixed assets |
|
Improvements to property | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
Government grants |
Government grants are recognised on an accruals basis and on a systematic basis over the period to which they relate to. |
|
Summary of the Government grants shown in the profit and loss: |
£ |
CJRS Grants | 3,377 |
Business Grant | 10,000 |
13,377 |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
1ST COVERALL COMPANY LIMITED (REGISTERED NUMBER: 04146587) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2021 |
|
|
2. | 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 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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
|
AMORTISATION |
At 1 April 2020 |
|
Charge for year |
|
At 31 March 2021 |
|
NET BOOK VALUE |
At 31 March 2021 |
|
At 31 March 2020 |
|
1ST COVERALL COMPANY LIMITED (REGISTERED NUMBER: 04146587) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2021 |
|
|
5. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 April 2020 |
|
|
|
Additions |
|
|
|
At 31 March 2021 |
|
|
|
DEPRECIATION |
At 1 April 2020 |
|
|
|
Charge for year |
|
|
|
At 31 March 2021 |
|
|
|
NET BOOK VALUE |
At 31 March 2021 |
|
|
|
At 31 March 2020 |
|
|
|
|
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2020 |
|
|
|
|
Additions |
|
|
|
|
At 31 March 2021 |
|
|
|
|
DEPRECIATION |
At 1 April 2020 |
|
|
|
|
Charge for year |
|
|
|
|
At 31 March 2021 |
|
|
|
|
NET BOOK VALUE |
At 31 March 2021 |
|
|
|
|
At 31 March 2020 |
|
|
|
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade debtors |
|
|
Amounts owed by participating interests | 4,048,339 | - |
Prepayments |
|
|
|
|
1ST COVERALL COMPANY LIMITED (REGISTERED NUMBER: 04146587) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2021 |
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Bank loans |
|
|
Amounts owed to group undertakings |
|
|
Other creditors |
|
|
|
|
|
9. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.21 | 31.3.20 |
value: | £ | £ |
|
Ordinary | 1 | 105 | 105 |
|
10. | RESERVES |
Retained |
earnings |
£ |
|
At 1 April 2020 |
|
Profit for the year |
|
At 31 March 2021 |
|
|
11. | ULTIMATE CONTROLLING PARTY |
|
1st Coverall Holdings Limited is the ultimate controlling party and became such on 18 January 2020 as filed at Companies House. |