REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th May 2024 |
for |
Core Health Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th May 2024 |
for |
Core Health Limited |
Core Health Limited (Registered number: 07242531) |
Contents of the Financial Statements |
for the Year Ended 30th May 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Core Health Limited (Registered number: 07242531) |
Balance Sheet |
30th May 2024 |
30.5.24 | 30.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
PROVISIONS FOR LIABILITIES |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges her 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 Health Limited (Registered number: 07242531) |
Balance Sheet - continued |
30th May 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Core Health Limited (Registered number: 07242531) |
Notes to the Financial Statements |
for the Year Ended 30th May 2024 |
1. | COMPANY INFORMATION |
Core Health Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. |
Revenue from contracts for the provision of professional services is recognised on delivery on the service. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. |
Core Health Limited (Registered number: 07242531) |
Notes to the Financial Statements - continued |
for the Year Ended 30th May 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. |
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. |
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Development costs 10 years straight line basis |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Computer equipment - 3 years straight line basis |
Motor vehicles - 5 years straight line basis |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Core Health Limited (Registered number: 07242531) |
Notes to the Financial Statements - continued |
for the Year Ended 30th May 2024 |
2. | ACCOUNTING POLICIES - continued |
Fixed asset investments |
Investments in cryptocurrencies are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred. |
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Development |
costs |
£ |
COST |
At 31st May 2023 |
and 30th May 2024 |
AMORTISATION |
At 31st May 2023 |
and 30th May 2024 |
NET BOOK VALUE |
At 30th May 2024 |
At 30th May 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 31st May 2023 |
Additions |
At 30th May 2024 |
DEPRECIATION |
At 31st May 2023 |
Charge for year |
At 30th May 2024 |
NET BOOK VALUE |
At 30th May 2024 |
At 30th May 2023 |
Core Health Limited (Registered number: 07242531) |
Notes to the Financial Statements - continued |
for the Year Ended 30th May 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.5.24 | 30.5.23 |
£ | £ |
Trade debtors |
Other debtors |
7. | CURRENT ASSET INVESTMENTS |
30.5.24 | 30.5.23 |
£ | £ |
Other |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.5.24 | 30.5.23 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes | ( |
) |
VAT | 1,850 | 1,083 |
Directors' current accounts | 76,044 | 90,802 |
Accruals and deferred income |
Accrued expenses |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.5.24 | 30.5.23 |
value: | £ | £ |
Ordinary | 1 | 10 | 10 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The company operated a loan account with the director, Mrs B Solanki. At the balance sheet date, Core Health Limited owed Mrs B Solanki £76,044 (2023: £90,801) and this amount is included within other creditors. |
Dividends of £87,776 (2023: £87,776) were issued in respect of shares held by the director. |
The loan is interest free and is repayable on demand. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs B R K Solanki. |