COVE BRANDS LIMITED

1. COVE BRANDS LIMITED 2024-02-04 → present
2. BENITAGO LIMITED 2016-04-07 → 2024-02-04

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Williamson & Croft Audit Ltd

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company is exploring potential options in respect of the restructuring of the group and its operations. One of these options which is under consideration is a transfer of the trade, assets and liabilities of the company to a fellow group subsidiary which would potentially result in the company ceasing trade. It is noted that it is the intention for the trade of the company to carry on, albeit within a separate entity. The options available are in the exploratory stage with no action yet confirmed. Due to the nature of the current plans being exploratory with no action confirmed, the company is still a going concern and these accounts have been prepared on a going concern basis.”

Significant events

• “2024 presented continued challenges both from macroeconomic and company-specific perspectives, following the 2023 downturn in the e-commerce industry post-COVID. The parent company, Cove Brands Inc., entered a Chapter 11 restructuring process in the United States, which, while causing significant business disruptions, served as a pivotal moment for the company to adapt its business model to post-restructuring realities. This transformation occurred primarily through strategic product selection and inventory management decisions, resulting in a more resilient business model. We anticipate and have begun to observe positive trends, particularly following the completion of the Chapter 11 restructuring in February 2024 and the continued sell-through of unprofitable inventory, which has yielded promising results.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

8

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -62.8%

  £11,033,229 → £4,099,429

• Cash

  +1,083.5%

  £251,354 → £2,974,792

  highest in 4 filed years

• Net assets

  -638.7%

  £492,109 → -£2,650,839

  lowest in 4 filed years

• Employees

  —

  Not reported

• Profit before tax

  -171.6%

  -£1,157,274 → -£3,142,948

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers