Registered number
10202973
Corbeagh Limited
Filleted Accounts
31 May 2024
Corbeagh Limited
Registered number: 10202973
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,470 5,314
Investments 4 725,077 -
731,547 5,314
Current assets
Debtors 5 329,983 332,125
Cash at bank and in hand 32,775 620,062
362,758 952,187
Creditors: amounts falling due within one year 7 (100,651) (155,541)
Net current assets 262,107 796,646
Total assets less current liabilities 993,653 801,959
Provisions for liabilities (1,617) (1,328)
Net assets 992,036 800,631
Capital and reserves
Called up share capital 100 100
Profit and loss account 991,936 800,531
Shareholders' funds 992,036 800,631
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr. Philip Sterrett
Director
Approved by the board on 17 September 2024
Corbeagh Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment, Fixtures & Fittings 10% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 1
3 Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 June 2023 6,591
Additions 1,875
At 31 May 2024 8,466
Depreciation
At 1 June 2023 1,277
Charge for the year 719
At 31 May 2024 1,996
Net book value
At 31 May 2024 6,470
At 31 May 2023 5,314
4 Investments
Other
investments
£
Cost
Additions 725,077
At 31 May 2024 725,077
5 Debtors 2024 2023
£ £
Trade debtors 83,807 83,807
Other debtors 246,176 248,318
329,983 332,125
6 Investments held as current assets 2024 2023
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments 4,748 -
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 5,820 11,794
Taxation and social security costs 91,453 140,885
Other creditors 3,378 2,862
100,651 155,541
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Dr. Philip Sterrett
Director's loan 248,318 2,142 246,176
248,318 - 2,142 246,176
9 Other information
Corbeagh Limited is a private company limited by shares and incorporated in England. Its registered office is:
82 Vallance Road
Wood Green
London
England
N22 7UG
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