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REGISTERED NUMBER: 10888832 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 July 2024

for

Coralarc Limited

Coralarc Limited (Registered number: 10888832)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Coralarc Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr L M Betty
Mr A G Hughes





REGISTERED OFFICE: Unit A, Rockhaven, Packgate Road
Cabot Park
Avonmouth
Bristol
BS11 0FD





REGISTERED NUMBER: 10888832 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Coralarc Limited (Registered number: 10888832)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,513
Investment property 5 1,865,000 1,865,000
1,865,000 1,866,513

CURRENT ASSETS
Debtors 6 17,781 38,389
Cash at bank 87,773 23,067
105,554 61,456
CREDITORS
Amounts falling due within one year 7 1,306,919 549,607
NET CURRENT LIABILITIES (1,201,365 ) (488,151 )
TOTAL ASSETS LESS CURRENT LIABILITIES 663,635 1,378,362

CREDITORS
Amounts falling due after more than one year 8 - (748,315 )

PROVISIONS FOR LIABILITIES (91,689 ) (97,177 )
NET ASSETS 571,946 532,870

CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair value reserve 11 271,789 272,609
Retained earnings 11 300,155 260,259
SHAREHOLDERS' FUNDS 571,946 532,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Coralarc Limited (Registered number: 10888832)

Balance Sheet - continued
31 July 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 Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:




Mr L M Betty - Director



Mr A G Hughes - Director


Coralarc Limited (Registered number: 10888832)

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

1. STATUTORY INFORMATION

Coralarc 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 2 (2023 - 2 ) .

Coralarc Limited (Registered number: 10888832)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2023 4,800 3,079 7,879
Disposals - (3,079 ) (3,079 )
At 31 July 2024 4,800 - 4,800
DEPRECIATION
At 1 August 2023 4,547 1,819 6,366
Charge for year 253 64 317
Eliminated on disposal - (1,883 ) (1,883 )
At 31 July 2024 4,800 - 4,800
NET BOOK VALUE
At 31 July 2024 - - -
At 31 July 2023 253 1,260 1,513

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 1,865,000
NET BOOK VALUE
At 31 July 2024 1,865,000
At 31 July 2023 1,865,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2021 148,478
Valuation in 2023 215,000
Cost 1,501,522
1,865,000

If investment property had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 1,501,522 1,501,522

Investment property was valued on an open market basis on 31 July 2024 by the directors .

Coralarc Limited (Registered number: 10888832)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 848 22,670
Other debtors 81 301
VAT 903 -
Accrued income 10,500 10,500
Prepayments 5,449 4,918
17,781 38,389

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts - 89,232
Trade creditors 30,987 24,511
Amounts owed to group undertakings 1,268,210 424,946
Tax 6,357 8,262
VAT - 1,356
Accrued expenses 1,365 1,300
1,306,919 549,607

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans - 1-2 years - 90,191
Bank loans - 2-5 years - 296,591
Bank loans more 5 yr by instal - 361,533
- 748,315

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 361,533

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans - 837,547

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
2 Ordinary £1 2 2

Coralarc Limited (Registered number: 10888832)

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

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 August 2023 260,259 272,609 532,868
Profit for the year 39,076 39,076
Assets revalued in period 820 (820 ) -
At 31 July 2024 300,155 271,789 571,944