Kovereki Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: SC602812

Kovereki Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2022

Kovereki Limited

Statement of Financial Position

31 December 2022

	2022		2021
Note	£	£	£

Current assets

Debtors	4	59,072	3,335
Cash at bank and in hand		308,827	259,141
		---------	---------
		367,899	262,476

Creditors: amounts falling due within one year	5	257,531		250,854
		---------		---------
Net current assets			110,368	11,622
			---------	--------
Total assets less current liabilities			110,368	11,622
			---------	--------

Capital and reserves

Called up share capital	6	100	100
Profit and loss account		110,268	11,522
		---------	--------
Shareholders funds		110,368	11,622
		---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 21 September 2023 , and are signed on behalf of the board by:

G P Murphy

Director

Company registration number: SC602812

Kovereki Limited

Notes to the Financial Statements

Year ended 31 December 2022

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Ellismuir House, Ellismuir Way, Tannochside Park, Glasgow, G71 5PW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing these financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Financial instruments

A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the financial instrument. Basic financial assets, which include trade and other debtors, amounts due from group undertakings, and cash and bank balances, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future receipts discounted at the market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade creditors, bank loans and overdrafts, and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future receipts discounted at the market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.

4. Debtors

	2022	2021
	£	£
Other debtors	59,072	3,335
	--------	-------

5. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	53,500	971
Corporation tax	23,123	1,728
Deferred income	108,164	129,979
Accruals	59,154	115,742
Other creditors	13,590	2,434
	---------	---------
	257,531	250,854
	---------	---------

6. Called up share capital

Issued, called up and fully paid

	2022		2021
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

7. Directors' advances, credits and guarantees

During the year, the company operated a director's loan account with Glenn Murphy, director. The total amount advanced during the year was £100 (2021: £100). An amount of £100 was due to the company by the director at the year end (2021: £100).