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Registration number: 08722414

Core Utilities Contracting Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Core Utilities Contracting Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Core Utilities Contracting Limited

(Registration number: 08722414)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

347

408

Current assets

 

Debtors

5

25,000

25,635

Cash at bank and in hand

 

159

26

 

25,159

25,661

Creditors: Amounts falling due within one year

6

(127,733)

(161,459)

Net current liabilities

 

(102,574)

(135,798)

Total assets less current liabilities

 

(102,227)

(135,390)

Creditors: Amounts falling due after more than one year

6

(4,674)

(5,833)

Net liabilities

 

(106,901)

(141,223)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(107,001)

(141,323)

Shareholders' deficit

 

(106,901)

(141,223)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 February 2024
 

.........................................
Miss L Mee
Director

 

Core Utilities Contracting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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:
1A Lindrick Road
Woodsetts
Worksop
Nottinghamshire
S81 8RD

These financial statements were authorised for issue by the director on 6 February 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The accounts are prepared on the going concern basis but for the reasons set out in the directors report this may not be appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Core Utilities Contracting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

15% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Core Utilities Contracting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

1,373

1,373

At 31 October 2023

1,373

1,373

Depreciation

At 1 November 2022

965

965

Charge for the year

61

61

At 31 October 2023

1,026

1,026

Carrying amount

At 31 October 2023

347

347

At 31 October 2022

408

408

 

Core Utilities Contracting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Debtors

2023
£

2022
£

Other debtors

-

635

Prepayments

25,000

25,000

25,000

25,635

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

1,934

3,111

Trade creditors

 

-

1,428

Amounts owed to related parties

64,587

64,637

Taxation and social security

 

21,780

-

Other creditors

 

38,442

91,503

Accrued expenses

 

990

780

 

127,733

161,459

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

4,674

5,833

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

4,674

5,833

2023
£

2022
£

Current loans and borrowings

Bank borrowings

1,934

3,111