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REGISTERED NUMBER: 07570539 (England and Wales)















Core Equipment Ltd

Unaudited Financial Statements for the Year Ended 31 March 2024






Core Equipment Ltd (Registered number: 07570539)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 8


Core Equipment Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J G L Chaplin





REGISTERED OFFICE: Unit 1140 Silverstone Park
Buckingham Road
Silverstone
Towcester
Northamptonshire
NN12 8FU





REGISTERED NUMBER: 07570539 (England and Wales)





ACCOUNTANTS: Tearle & Carver Limited
Chandos House
School Lane
Buckingham
Buckinghamshire
MK18 1HD

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Core Equipment Ltd

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 Equipment Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet 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 Equipment Ltd in accordance with the terms of our engagement letter dated 12 July 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Core Equipment Ltd and state those matters that we have agreed to state to the director of Core Equipment Ltd 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 Equipment Ltd and its director for our work or for this report.

It is your duty to ensure that Core Equipment Ltd 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 Equipment Ltd. You consider that Core Equipment Ltd 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 Equipment Ltd. 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.






Tearle & Carver Limited
Chandos House
School Lane
Buckingham
Buckinghamshire
MK18 1HD


Date: .............................................

Core Equipment Ltd (Registered number: 07570539)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,310 7,670
Tangible assets 5 112,983 182,955
117,293 190,625

CURRENT ASSETS
Stocks 30,975 41,260
Debtors 6 708,573 739,082
Cash at bank and in hand 501,667 1,194,329
1,241,215 1,974,671
CREDITORS
Amounts falling due within one year 7 1,231,453 1,970,258
NET CURRENT ASSETS 9,762 4,413
TOTAL ASSETS LESS CURRENT
LIABILITIES

127,055

195,038

CREDITORS
Amounts falling due after more than one
year

8

(105,885

)

(73,409

)

PROVISIONS FOR LIABILITIES (20,614 ) (22,391 )
NET ASSETS 556 99,238

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 555 99,237
556 99,238

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.

Core Equipment Ltd (Registered number: 07570539)

Balance Sheet - continued
31 March 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 12 November 2024 and were signed by:





J G L Chaplin - Director


Core Equipment Ltd (Registered number: 07570539)

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

1. STATUTORY INFORMATION

Core Equipment Ltd 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.

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.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Core Equipment Ltd (Registered number: 07570539)

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

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 16,800
AMORTISATION
At 1 April 2023 9,130
Charge for year 3,360
At 31 March 2024 12,490
NET BOOK VALUE
At 31 March 2024 4,310
At 31 March 2023 7,670

Core Equipment Ltd (Registered number: 07570539)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 66,999 41,675 16,587
Additions - - 851
Disposals - - -
At 31 March 2024 66,999 41,675 17,438
DEPRECIATION
At 1 April 2023 31,615 31,140 9,602
Charge for year 16,750 10,419 3,804
Eliminated on disposal - - -
At 31 March 2024 48,365 41,559 13,406
NET BOOK VALUE
At 31 March 2024 18,634 116 4,032
At 31 March 2023 35,384 10,535 6,985

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 197,240 23,491 345,992
Additions 26,695 1,161 28,707
Disposals (74,189 ) - (74,189 )
At 31 March 2024 149,746 24,652 300,510
DEPRECIATION
At 1 April 2023 72,336 18,344 163,037
Charge for year 29,455 4,471 64,899
Eliminated on disposal (40,409 ) - (40,409 )
At 31 March 2024 61,382 22,815 187,527
NET BOOK VALUE
At 31 March 2024 88,364 1,837 112,983
At 31 March 2023 124,904 5,147 182,955

Core Equipment Ltd (Registered number: 07570539)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 173,632 260,096
Other debtors 534,941 478,986
708,573 739,082

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,534 -
Trade creditors 309,180 216,548
Taxation and social security 23,043 126,544
Other creditors 897,696 1,627,166
1,231,453 1,970,258

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 105,885 73,409

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the parent company, Chaplin and Chaplin Holdings Ltd.