Kore Construction (South West) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 07684088 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

KORE CONSTRUCTION (SOUTH WEST) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S C Kellaway

D J C Kellaway

REGISTERED OFFICE:

Ludwell Rise

Cole Road

Bruton

Somerset

BA10 0DD

REGISTERED NUMBER:

07684088 (England and Wales)

ACCOUNTANTS:

Andrews and Palmer

Chartered Accountants

32 The Square

Gillingham

Dorset

SP8 4AR

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

161,592

177,915

161,592

177,915

CURRENT ASSETS

Stocks

200

-

Debtors

6

62,359

48,058

Cash at bank and in hand

3,987

29,531

66,546

77,589

CREDITORS

Amounts falling due within one year

7

104,774

137,967

NET CURRENT LIABILITIES

(38,228

)

(60,378

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

123,364

117,537

CREDITORS

Amounts falling due after more than one
year

8

(51,122

)

-

PROVISIONS FOR LIABILITIES

(13,190

)

(9,386

)

NET ASSETS

59,052

108,151

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

58,952

108,051

SHAREHOLDERS' FUNDS

59,052

108,151

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 28 March 2025 and were signed on its behalf by:

D J C Kellaway - Director

1.	STATUTORY INFORMATION

Kore Construction (South West) 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.

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 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

Financial instruments

Basic financial instruments are measured at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes 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 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2023

and 30 June 2024

50,000

AMORTISATION

At 1 July 2023

and 30 June 2024

50,000

NET BOOK VALUE

At 30 June 2024

-

At 30 June 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

COST

At 1 July 2023

108,830

135,134

158

Additions

-

1,266

-

At 30 June 2024

108,830

136,400

158

DEPRECIATION

At 1 July 2023

-

92,468

149

Charge for year

-

10,985

2

At 30 June 2024

-

103,453

151

NET BOOK VALUE

At 30 June 2024

108,830

32,947

7

At 30 June 2023

108,830

42,666

9

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 July 2023

151,904

10,358

406,384

Additions

-

1,266

At 30 June 2024

151,904

10,358

407,650

DEPRECIATION

At 1 July 2023

127,599

8,253

228,469

Charge for year

6,076

526

17,589

At 30 June 2024

133,675

8,779

246,058

NET BOOK VALUE

At 30 June 2024

18,229

1,579

161,592

At 30 June 2023

24,305

2,105

177,915

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.24

30.6.23

£

Trade debtors

8,256

(5,192

)

Other debtors

54,103

53,250

62,359

48,058

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.24

30.6.23

£

Bank loans and overdrafts

3,379

57,950

Trade creditors

525

12,442

Taxation and social security

83,852

64,922

Other creditors

17,018

2,653

104,774

137,967

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.6.24

30.6.23

£

Bank loans

51,122

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

32,060

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.24

30.6.23

£

Bank loans

54,501

-

Bank loan is secured against property held by the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.24

30.6.23

value:

£

100

Ordinary

1

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24

30.6.23

£

Mrs S C Kellaway and D J C Kellaway

Balance outstanding at start of year

-

Amounts advanced

115,285

-

Amounts repaid

(115,285

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

Interest has been charged on overdrawn directors loans at the HMRC official rate for beneficial loans (2.25%).