CORE RAIL LTD

Company Registration Number:
11592720 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2023

Period of accounts

Start date: 01 August 2022

End date: 31 July 2023

CORE RAIL LTD

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Notes

CORE RAIL LTD

Balance sheet

As at 31 July 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 176,195 201,366
Tangible assets: 4 349,066 165,745
Total fixed assets: 525,261 367,111
Current assets
Stocks: 5,241 7,388
Debtors:   520,645 1,330,633
Cash at bank and in hand: 5,957 8,047
Total current assets: 531,843 1,346,068
Creditors: amounts falling due within one year:   (701,314) (1,485,065)
Net current assets (liabilities): (169,471) (138,997)
Total assets less current liabilities: 355,790 228,114
Total net assets (liabilities): 355,790 228,114
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 355,690 228,014
Shareholders funds: 355,790 228,114

The notes form part of these financial statements

CORE RAIL LTD

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 July 2024
and signed on behalf of the board by:

Name: D Ratcliff
Status: Director

The notes form part of these financial statements

CORE RAIL LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of theconsideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets and depreciation policy

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 & machinery25% straight line and 10% straight line

Intangible fixed assets and amortisation policy

GoodwillGoodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of comprehensive income over its useful economic life of 10 years.Other intangible assetsIntangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

CORE RAIL LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

CORE RAIL LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Intangible Assets

Total
Cost £
At 01 August 2022 251,708
At 31 July 2023 251,708
Amortisation
At 01 August 2022 50,342
Charge for year 25,171
At 31 July 2023 75,513
Net book value
At 31 July 2023 176,195
At 31 July 2022 201,366

CORE RAIL LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Tangible Assets

Total
Cost £
At 01 August 2022 197,769
Additions 220,000
At 31 July 2023 417,769
Depreciation
At 01 August 2022 32,024
Charge for year 36,679
At 31 July 2023 68,703
Net book value
At 31 July 2023 349,066
At 31 July 2022 165,745