Coval Technologies Limited - Period Ending 2019-05-31

Registration number: 03169494

Coval Technologies Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2019

Franklin, Chartered Accountants
320 Garratt Lane
London
SW18 4EJ

Coval Technologies Limited

Profit and Loss Account for the Year Ended 31 May 2019

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

The notes on pages 3 to 5 form an integral part of these financial statements.

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Coval Technologies Limited

(Registration number: 03169494)
Balance Sheet as at 31 May 2019

	Note	2019 £	2018 £
Fixed assets
Intangible assets	3	50,000	50,000
Creditors: Amounts falling due within one year	4	(67,532)	(67,532)
Net liabilities		(17,532)	(17,532)
Capital and reserves
Called up share capital	5	2	2
Profit and loss account		(17,534)	(17,534)
Total equity		(17,532)	(17,532)

For the financial year ending 31 May 2019 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 2 August 2019 and signed on its behalf by:
 

.........................................

Mr AJ Franklin
Company secretary and director

The notes on pages 3 to 5 form an integral part of these financial statements.

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Coval Technologies Limited

Notes to the Financial Statements for the Year Ended 31 May 2019

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
320 Garratt Lane
London
SW18 4EJ

The principal place of business is:
2 Meades Close
Marden
Kent
TN12 9QG
UK

These financial statements were authorised for issue by the Board on 2 August 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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Coval Technologies Limited

Notes to the Financial Statements for the Year Ended 31 May 2019

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
At 1 June 2018	50,000	50,000
At 31 May 2019	50,000	50,000
Amortisation
Carrying amount
At 31 May 2019	50,000	50,000
At 31 May 2018	50,000	50,000

The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2018 - £Nil).
 

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Coval Technologies Limited

Notes to the Financial Statements for the Year Ended 31 May 2019

4

Creditors

	Note	2019 £	2018 £
Due within one year
Trade creditors		8,750	8,750
Amounts due to related parties		480	480
Other payables		58,302	58,302
		67,532	67,532

5	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary of £1 each	2	2	2	2

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