Registered number
11641385
COREUPS Limited
Accounts
31 March 2025
COREUPS Limited
Registered number: 11641385
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 28,158 36,139
Current assets
Stocks 44,500 67,500
Debtors 4 122,041 131,704
Cash at bank and in hand 409,283 328,559
575,824 527,763
Creditors: amounts falling due within one year 5 (135,443) (194,890)
Net current assets 440,381 332,873
Total assets less current liabilities 468,539 369,012
Provisions for liabilities (7,040) -
Net assets 461,499 369,012
Capital and reserves
Called up share capital 100 100
Profit and loss account 461,399 368,912
Shareholder's funds 461,499 369,012
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Gumbs
Director
Approved by the board on 5 June 2025
COREUPS Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer and office equipment 25% straight line
Plant and machinery 25% straight line
Motor vehicles 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Computer and office equipment Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 13,970 33,382 24,260 71,612
Additions 3,539 3,572 - 7,111
At 31 March 2025 17,509 36,954 24,260 78,723
Depreciation
At 1 April 2024 9,034 16,735 9,704 35,473
Charge for the year 2,826 7,414 4,852 15,092
At 31 March 2025 11,860 24,149 14,556 50,565
Net book value
At 31 March 2025 5,649 12,805 9,704 28,158
At 31 March 2024 4,936 16,647 14,556 36,139
4 Debtors 2025 2024
£ £
Trade debtors 122,041 131,704
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 17,407 71,949
Taxation and social security costs 77,845 65,978
Other creditors 40,191 56,963
135,443 194,890
6 Controlling party
The company is controled by its Director and shareholder, Mr D Gumbs.
7 Other information
COREUPS Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Goldington Road
Bedford
MK40 3JY
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