Cover 4 You Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09373879 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2018

FOR

COVER 4 YOU LIMITED

PREVIOUSLY KNOWN AS

INSURE ME 4 LESS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss J B McAlpine

S A Burrows

Mrs A Burrows

REGISTERED OFFICE:

The Exchange

Bank Street

Bury

Lancashire

BL9 0DN

REGISTERED NUMBER:

09373879 (England and Wales)

ACCOUNTANTS:

Burnside

Chartered Accountants

and Statutory Auditor

61 Queen Square

Bristol

BS1 4JZ

CURRENT ASSETS

Debtors

4

103,954

88,494

Cash at bank

5,010

5,010

108,964

93,504

CREDITORS

Amounts falling due within one year

5

83,531

54,733

NET CURRENT ASSETS

25,433

38,771

TOTAL ASSETS LESS CURRENT LIABILITIES

25,433

38,771

CREDITORS

Amounts falling due after more than one year

6

5,000

5,000

NET ASSETS

20,433

33,771

CAPITAL AND RESERVES

Called up share capital

7

10

10

Retained earnings

20,423

33,761

SHAREHOLDERS' FUNDS

20,433

33,771

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 22 February 2019 and were signed on its behalf by:

Miss J B McAlpine - Director

1.	STATUTORY INFORMATION

Cover 4 You Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

The presentational currency of the financial statements is the Pound Sterling (£).

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates and any applicable sales taxes.

Turnover represents the value of commissions receivable in respect of sales of insurance

policies completed during the year.

Financial instruments

Financial assets and liabilities are recognised in the balance sheet when the company becomes

party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are

measured on initial recognition at transaction price. Debtors and creditors are subsequently

measured at amortised cost using the effective interest rate method. A provision is established

when there is objective evidence that the company may not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in

hand and at bank and bank overdrafts which are an integral part of the company's cash

management.

Financial liabilities and equity instruments issued by the company are classified in accordance

with the substance of the contractual arrangements entered into and the definitions of a

financial liability and an equity instrument. An equity instrument is any contract that evidences a

residual interest in the assets of the company after deducting all of its liabilities. Equity

instruments issued by the company are recorded at the proceeds received, net of any direct

issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Comprehensive Income, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 4 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

91,195

76,840

Prepayments and accrued income

12,759

11,654

103,954

88,494

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank overdraft

12,039

17,195

Corporation tax

58,366

27,941

Social security and other taxes

431

115

Other creditors

6,013

2,614

Accruals and deferred income

6,682

6,868

83,531

54,733

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

5,000

5,000

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

3

A Ordinary (2017 - Ordinary)

£1.00

4

10

3

B Ordinary

£1.00

3

-

4

C Ordinary

£1.00

3

-

10

10

On 31 March 2018 the company passed an ordinary resolution to redesignate the existing 10

Ordinary shares of £1.00 as 3 A Ordinary shares of £1.00, 3 B Ordinary shares of £1.00 and 4

C Ordinary shares of £1.00 each. The new classes of share all rank pari passu in all respects

with each other.

8.	RELATED PARTY DISCLOSURES

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of their combined 100% interest in the

issued share capital of the company.