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REGISTERED NUMBER: 10061471 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Core Homes Limited

Core Homes Limited (Registered number: 10061471)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Core Homes Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: A C Turner





REGISTERED OFFICE: Suite 2
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES





REGISTERED NUMBER: 10061471 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Core Homes Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Core Homes Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Core Homes Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Core Homes Limited and state those matters that we have agreed to state to the director of Core Homes Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Core Homes Limited and its director for our work or for this report.

It is your duty to ensure that Core Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Core Homes Limited. You consider that Core Homes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Core Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES


4 October 2024

Core Homes Limited (Registered number: 10061471)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 362,000 360,000

CURRENT ASSETS
Cash at bank 374 1,734

CREDITORS
Amounts falling due within one year 5 105,375 102,736
NET CURRENT LIABILITIES (105,001 ) (101,002 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

256,999

258,998

CREDITORS
Amounts falling due after more than one
year

6

(236,443

)

(237,200

)

PROVISIONS FOR LIABILITIES (4,339 ) (10,954 )
NET ASSETS 16,217 10,844

CAPITAL AND RESERVES
Called up share capital 8 2 2
Fair value reserve 9 44,740 46,699
Retained earnings 9 (28,525 ) (35,857 )
SHAREHOLDERS' FUNDS 16,217 10,844

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2024 and were signed by:





A C Turner - Director


Core Homes Limited (Registered number: 10061471)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Core Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company has net current liabilities of £105,001 (2023: £101,002). These accounts are prepared on a going concern basis as the director will continue to support the company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Core Homes Limited (Registered number: 10061471)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 360,000
Revaluations 2,000
At 31 March 2024 362,000
NET BOOK VALUE
At 31 March 2024 362,000
At 31 March 2023 360,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 32,183
Valuation in 2023 25,471
Valuation in 2024 2,000
Cost 302,346
362,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 302,346 302,346

Investment properties were valued on an open market basis on 31 March 2024 by the director .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,463 800
Other creditors 98,912 101,936
105,375 102,736

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 236,443 237,200

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 235,443 235,400

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage loans 235,443 235,400

The mortgages are secured against the properties of the Company.

Core Homes Limited (Registered number: 10061471)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 (35,857 ) 46,699 10,842
Profit for the year 5,373 5,373
Revaluation 1,959 (1,959 ) -
At 31 March 2024 (28,525 ) 44,740 16,215

10. RELATED PARTY DISCLOSURES

The company owes Core Consult Services Ltd, of which the director has a controlling interest, £59,864 (2023: £67,331). No interest is being charged on the balance.