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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
Page
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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
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Core Logistics UK Limited Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Intangible assets
595 
985 
Tangible assets
61,641 
14,494 
62,236 
15,479 
Current assets
Inventories
63,000 
22,500 
Debtors
78,943 
137,245 
Cash at bank and in hand
9,258 
90,384 
151,201 
250,129 
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)
Net assets
44,442 
80,910 
Capital and reserves
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
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Core Logistics UK Limited Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
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:
Plant & machinery
5 years
Motor vehicles
5 years
Fixtures & fittings
5 Years
Computer equipment
3 Years
Inventories
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.
Leased assets
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
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.
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Core Logistics UK Limited Notes to the Accounts for the year ended 31 December 2022
Pension costs
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2022
1,180 
At 31 December 2022
1,180 
Amortisation
At 1 January 2022
195 
Charge for the year
390 
At 31 December 2022
585 
Net book value
At 31 December 2022
595 
At 31 December 2021
985 
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 
Depreciation
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 
Net book value
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 
6
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
46,753 
40,575 
Other debtors
32,190 
96,670 
78,943 
137,245 
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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 
VAT
51,533 
67,150 
Obligations under finance leases and hire purchase contracts
15,117 
3,722 
Trade creditors
846 
- 
Taxes and social security
25,319 
45,638 
Other creditors
1,400 
1,807 
Accruals
4,509 
14,723 
105,249 
139,634 
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
34,829 
40,274 
Obligations under finance leases and hire purchase contracts
28,917 
4,790 
63,746 
45,064 
9
Average number of employees
During the year the average number of employees was 10 (2021: 9).
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