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REGISTERED NUMBER: 10170200 (England and Wales)















CORAX CONCEPTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 MAY 2024






CORAX CONCEPTS LIMITED (REGISTERED NUMBER: 10170200)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORAX CONCEPTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MAY 2024







DIRECTOR: R K Gill





REGISTERED OFFICE: Drone Innovation Centre
West Carr Business Park
West Carr Road
Retford
Nottinghamshire
DN22 7GY





REGISTERED NUMBER: 10170200 (England and Wales)






CORAX CONCEPTS LIMITED (REGISTERED NUMBER: 10170200)

BALANCE SHEET
30 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,037 4,049
3,037 4,049

CURRENT ASSETS
Debtors 6 1,600 15,846
Cash at bank and in hand 164 2,612
1,764 18,458
CREDITORS
Amounts falling due within one year 7 1,234 2,409
NET CURRENT ASSETS 530 16,049
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,567

20,098

PROVISIONS FOR LIABILITIES 1,275 1,275
NET ASSETS 2,292 18,823

CAPITAL AND RESERVES
Called up share capital 125 125
Retained earnings 2,167 18,698
2,292 18,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 May 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.

CORAX CONCEPTS LIMITED (REGISTERED NUMBER: 10170200)

BALANCE SHEET - continued
30 MAY 2024


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 11 October 2024 and were signed by:





R K Gill - Director


CORAX CONCEPTS LIMITED (REGISTERED NUMBER: 10170200)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024


1. STATUTORY INFORMATION

Corax Concepts 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

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 NIL (2023 - NIL).

CORAX CONCEPTS LIMITED (REGISTERED NUMBER: 10170200)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 May 2023
and 30 May 2024 8,400
AMORTISATION
At 31 May 2023
and 30 May 2024 8,400
NET BOOK VALUE
At 30 May 2024 -
At 30 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 May 2023
and 30 May 2024 34,558
DEPRECIATION
At 31 May 2023 30,509
Charge for year 1,012
At 30 May 2024 31,521
NET BOOK VALUE
At 30 May 2024 3,037
At 30 May 2023 4,049

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 9,600
Other debtors 1,600 6,246
1,600 15,846

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 1,210
Other creditors 1,234 1,199
1,234 2,409

CORAX CONCEPTS LIMITED (REGISTERED NUMBER: 10170200)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2024


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the director R Gill £34 (2023 the company owed the director - £5,065). There is no interest payable and there are no formal repayment terms.