Company Registration No. 07251760 (England and Wales)
Core Companies Ltd
Unaudited accounts
for the year ended 31 May 2024
Core Companies Ltd
Unaudited accounts
Contents
Core Companies Ltd
Company Information
for the year ended 31 May 2024
Directors
Trudi Keates
Emanuel Keates
Harvey Keates
Company Number
07251760 (England and Wales)
Registered Office
Units 1-3 Calves Lane Yard
Bellswood Lane
Iver
Bucks
SL0 0LU
United Kingdom
Accountants
Blue Cube Accountants Limited
7 High Street
Windsor
SL4 1LD
Core Companies Ltd
Statement of financial position
as at 31 May 2024
Intangible assets
18,213
-
Tangible assets
59,976
51,175
Inventories
1,149,308
1,287,000
Cash at bank and in hand
289,456
656,837
Creditors: amounts falling due within one year
(775,210)
(528,916)
Net current assets
1,312,403
1,734,192
Total assets less current liabilities
1,390,592
1,785,367
Provisions for liabilities
Net assets
1,375,598
1,785,367
Called up share capital
4
4
Profit and loss account
1,375,594
1,785,363
Shareholders' funds
1,375,598
1,785,367
For the year ending 31 May 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by
Emanuel Keates
Director
Company Registration No. 07251760
Core Companies Ltd
Notes to the Accounts
for the year ended 31 May 2024
Core Companies Ltd is a private company, limited by shares, registered in England and Wales, registration number 07251760. The registered office is Units 1-3 Calves Lane Yard, Bellswood Lane , Iver, Bucks, SL0 0LU, United Kingdom.
These financial statements have been prepared in compliance with FRS 102, ’The Financial Reporting Standard applicable to 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.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
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 & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
10 years on straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost. Amortisation provided- 10 years straight line.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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 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.
Core Companies Ltd
Notes to the Accounts
for the year ended 31 May 2024
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charge to the profit & loss account in the period to which they relate.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3
Intangible fixed assets
Other
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
49,085
134,781
36,581
220,447
Additions
15,482
-
-
15,482
At 31 May 2024
64,567
134,781
36,581
235,929
At 1 June 2023
40,174
109,550
19,548
169,272
Charge for the year
6,098
6,308
3,658
16,064
Surplus on revaluation
-
-
(9,383)
(9,383)
At 31 May 2024
46,272
115,858
13,823
175,953
At 31 May 2024
18,295
18,923
22,758
59,976
At 31 May 2023
8,911
25,231
17,033
51,175
The depreciation rate has changed from 25% reducing balance to 10 years straight Line as the directors agree this is a better representation of costs each year. The result of this is £9,383 added to the net book value.
Core Companies Ltd
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
Trade debtors
580,682
256,439
Amounts due from group undertakings etc.
5,676
-
Accrued income and prepayments
35,807
25,129
Other debtors
26,684
37,703
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
417,701
294,996
Taxes and social security
213,487
54,858
Other creditors
42,454
1,207
Loans from directors
1,521
2,151
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
2 Ordinary B shares of £1 each
2
2
8
Transactions with related parties
Included in debtors is £5,675 (2023- nil) owed by Keates Holdings Limited - this company is a parent and is controlled by the directors
Keates Holdings Limited is the parent company. The registered office address and place of business is Units 1-3 Calves Lane Yard, Bellswood Lane, Iver, Buckinghamshire, England, SL0 0LU.
10
Average number of employees
During the year the average number of employees was 11 (2023: 12).