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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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Cover Construction (Ross) Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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Cover Construction (Ross) Limited |
Cover Construction (Ross) Limited (Registered number: 08934108) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Cover Construction (Ross) Limited |
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Company Information |
for the Year Ended 31 March 2019 |
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Director: |
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Registered office: |
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Registered number: |
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Accountants: |
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10 The Southend |
Ledbury |
Herefordshire |
HR8 2EY |
Cover Construction (Ross) Limited (Registered number: 08934108) |
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Statement of Financial Position |
31 March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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CURRENT ASSETS |
Inventories |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
Cover Construction (Ross) Limited (Registered number: 08934108) |
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Statement of Financial Position - continued |
31 March 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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Cover Construction (Ross) Limited (Registered number: 08934108) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Cover Construction (Ross) Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The functional currency of Cover Construction (Ross) Limited is considered to be pounds sterling because that is |
the currency of the primary economic environment in which the company operates. |
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Significant judgements and estimates |
In the application of the company's accounting policies, the director is required to make judgements, estimates |
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other |
sources. The estimates and associated assumptions are based on historical experience and other factors that are |
considered to be relevant. Therefore actual results may differ from these estimates. |
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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 only that period, or in the |
period of the revision and future periods if the revision affects both current and future periods. |
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Within the company, the area where significant judgements and estimates are made by the director is in the |
Amounts recoverable on contracts valuation. At the year-end, the director estimates an appropriate proportion of |
the total expected consideration at completion of each contract. At the year-end, the director has no concerns |
over the recoverability of the company's Amounts recoverable on contracts balance as shown on The Statement |
of Financial Position. |
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Turnover |
Turnover represents the fair value of services provided under contracts with customers to the extent that there is |
a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at |
the year end, turnover represents the value of the service provided to that date based on an appropriate |
proportion of the total expected consideration at completion. |
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Invoices are raised on a stage basis or not until a contract is complete, so the value of incomplete services is |
included as Amounts recoverable on contracts in the balance sheet. |
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Goodwill |
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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. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stock of goods is valued at the lower of cost and net realisable value. |
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Cover Construction (Ross) Limited (Registered number: 08934108) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax |
rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial |
statements of current and previous periods. It is recognised in respect of all timing differences, with certain |
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated |
in the financial statements that arise from the inclusion of income and expense in tax assessments in periods |
different from those in which they are recognised in the financial statements. 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. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the |
balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued |
non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that |
apply to the sale of the asset. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
Cost |
At 1 April 2018 |
and 31 March 2019 |
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Amortisation |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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Net book value |
At 31 March 2019 |
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At 31 March 2018 |
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Cover Construction (Ross) Limited (Registered number: 08934108) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
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Cost |
At 1 April 2018 |
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Additions |
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Disposals | ( |
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At 31 March 2019 |
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Depreciation |
At 1 April 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2019 |
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Net book value |
At 31 March 2019 |
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At 31 March 2018 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
£ |
Cost |
At 1 April 2018 |
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Additions |
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Disposals | ( |
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At 31 March 2019 |
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Depreciation |
At 1 April 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2019 |
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Net book value |
At 31 March 2019 |
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At 31 March 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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S455 Tax debtor | 1,004 | 1,004 |
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Cover Construction (Ross) Limited (Registered number: 08934108) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Credit card |
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Directors' current accounts | 1,766 | 42,078 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Hire purchase contracts | 64,876 | 63,180 |
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Hire purchase contracts are secured over the relevant asset. |