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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
Page
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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
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Core Companies Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
18,213 
- 
Tangible assets
59,976 
51,175 
78,189 
51,175 
Current assets
Inventories
1,149,308 
1,287,000 
Debtors
648,849 
319,271 
Cash at bank and in hand
289,456 
656,837 
2,087,613 
2,263,108 
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
Deferred tax
(14,994)
- 
Net assets
1,375,598 
1,785,367 
Capital and reserves
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
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Core Companies Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
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.
2
Accounting policies
Basis of preparation
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.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost. Amortisation provided- 10 years straight line.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Inventories
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.
Deferred taxation
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.
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Core Companies Ltd Notes to the Accounts for the year ended 31 May 2024
Pension costs
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.
Foreign exchange
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 
£ 
Cost
At 1 June 2023
- 
Additions
20,237 
At 31 May 2024
20,237 
Amortisation
At 1 June 2023
- 
Charge for the year
2,024 
At 31 May 2024
2,024 
Net book value
At 31 May 2024
18,213 
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 
Depreciation
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 
Net book value
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.
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Core Companies Ltd Notes to the Accounts for the year ended 31 May 2024
5
Debtors
2024 
2023 
£ 
£ 
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 
648,849 
319,271 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
100,047 
174,254 
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 
Accruals
- 
1,450 
775,210 
528,916 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
2 Ordinary B shares of £1 each
2 
2 
4 
4 
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
9
Controlling party
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).
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