Company Registration No. 08648437 (England and Wales)
Core Logistics UK Limited
Draft Unaudited accounts
for the year ended 31 December 2022
Core Logistics UK Limited
Draft Unaudited accounts
Contents
Core Logistics UK Limited
Company Information
for the year ended 31 December 2022
Directors
Stuart McCourt
Jeff Taylor
Paula McCourt
Company Number
08648437 (England and Wales)
Registered Office
ELYSIUM
OAKENSHAW
DURHAM
DL15 0SX
Core Logistics UK Limited
Statement of financial position
as at 31 December 2022
Tangible assets
61,641
14,494
Cash at bank and in hand
9,258
90,384
Creditors: amounts falling due within one year
(105,249)
(139,634)
Net current assets
45,952
110,495
Total assets less current liabilities
108,188
125,974
Creditors: amounts falling due after more than one year
(63,746)
(45,064)
Called up share capital
2
2
Profit and loss account
44,440
80,908
Shareholders' funds
44,442
80,910
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2023 and were signed on its behalf by
Paula McCourt
Director
Company Registration No. 08648437
Core Logistics UK Limited
Notes to the Accounts
for the year ended 31 December 2022
Core Logistics UK Limited is a private company, limited by shares, registered in England and Wales, registration number 08648437. The registered office is ELYSIUM, OAKENSHAW, DURHAM, DL15 0SX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
5 Years
Computer equipment
3 Years
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Core Logistics UK Limited
Notes to the Accounts
for the year ended 31 December 2022
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Expenditure on research and development is written off in the year in which it is incurred.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2022
837
14,200
-
6,642
21,679
Additions
27,603
21,500
8,834
1,967
59,904
At 31 December 2022
28,440
35,700
8,834
8,609
81,583
At 1 January 2022
182
4,260
-
2,743
7,185
Charge for the year
4,399
6,065
295
1,998
12,757
At 31 December 2022
4,581
10,325
295
4,741
19,942
At 31 December 2022
23,859
25,375
8,539
3,868
61,641
At 31 December 2021
655
9,940
-
3,899
14,494
Amounts falling due within one year
Trade debtors
46,753
40,575
Other debtors
32,190
96,670
Core Logistics UK Limited
Notes to the Accounts
for the year ended 31 December 2022
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
6,525
6,594
Obligations under finance leases and hire purchase contracts
15,117
3,722
Taxes and social security
25,319
45,638
Other creditors
1,400
1,807
8
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
28,917
4,790
9
Average number of employees
During the year the average number of employees was 10 (2021: 9).