Registered Number
:
02506975
|
For the year ended 31 March 2017
England and Wales
Directors Report and Unaudited Financial Statements
For the year ended 31 March 2017
C J COVERS LIMITED
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
C J COVERS LIMITED
Statement of Financial Position
2016
2017
Property
,
plant and equipment
|
456,809
459,500
2
8,665
8,665
3
465,474
468,165
31,000
23,450
Trade and other receivables
|
193,691
226,907
4
83,006
Cash and cash equivalents
|
128,298
378,655
307,697
Trade and other payables
:
amounts falling due within one
|
year
|
(101,012)
(140,175)
5
206,685
238,480
Net current assets
Total assets less current liabilities
|
703,954
674,850
(1,362)
(1,900)
Provisions for liabilities
|
702,592
Net assets
672,950
102
102
285,287
285,287
6
417,203
387,561
702,592
672,950
Shareholders' funds
For the year ended 31 March 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
|
These financial statements were approved and authorised for issue by the Board on 27 June 2017 and were signed by:
|
1 of 5
For the year ended 31 March 2017
C J COVERS LIMITED
Statement of Financial Position Continued
The notes form part of these financial statements
|
2 of 5
For the year ended 31 March 2017
C J COVERS LIMITED
Notes to the Financial Statements
Statutory Information
C J COVERS LIMITED is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration
|
number
02506975
.
|
Principal place of business
:
|
30 Williamson Street
Hedon Road
Hull
HU9 1EP
c/o Duncan Rann Associates
40-42 Beverley Road
Hull
HU3 1YE
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
The company has not traded throughout the year.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Land and buildings
Plant and machinery
Hire covers
Motor vehicles
Fixtures and fittings
The company
''
s freehold properties were professionally valued in
0
.
This valuation has been reduced by subsequent
|
depreciation
.
Under the transitional provisions of the Financial Reporting Standard for Smaller Entities
(
effective
|
January
2015
)
the properties continue to be stated at that valuation less accumulated depreciation to date and that
|
valuation has not been updated
.
|
No depreciation is provided on the company
''
s freehold properties since in the opinion of the directors the expected
|
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
|
would be immaterial
.
The directors undertake an annual impairment review of these properties
.
|
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
3 of 5
For the year ended 31 March 2017
C J COVERS LIMITED
Notes to the Financial Statements Continued
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.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
|
2
.
Property
,
plant and equipment
|
Hire covers
Motor vehicles
530,633
6,900
1,235
21,280
51,218
450,000
450,000
21,280
1,235
6,900
530,633
51,218
Provision for depreciation and impairment
|
71,133
6,900
526
20,723
42,984
-
Charge for year
2,691
-
236
557
1,898
-
73,824
6,900
762
21,280
44,882
-
450,000
6,336
-
473
-
456,809
450,000
8,234
557
709
-
459,500
3
.
Investments held as fixed assets
|
8,665
8,665
8,665
8,665
8,665
8,665
8,665
8,665
The market value of fixed asset investments at 31 March 2016 was £2,998 (2015 £2,880).
4 of 5
For the year ended 31 March 2017
C J COVERS LIMITED
Notes to the Financial Statements Continued
4
.
Trade and other receivables
|
2016
2017
122,966
97,847
103,941
95,844
193,691
226,907
5
.
Trade and other payables
:
amounts falling due within one year
|
2016
2017
52,227
25,622
Taxation and social security
|
73,610
62,964
14,338
12,426
140,175
101,012
Revaluation reserve at
01
April
2016
|
285,287
285,287
Revaluation reserve at
31
March
2017
|
5 of 5