2023-11-012024-10-312024-10-31false14451716CORELAIN LTD2025-07-25falseiso4217:GBPxbrli:pure144517162023-10-31144517162024-10-31144517162023-11-012024-10-31144517162022-10-30144517162023-10-31144517162022-10-312023-10-3114451716bus:SmallEntities2023-11-012024-10-3114451716bus:AuditExempt-NoAccountantsReport2023-11-012024-10-3114451716bus:AbridgedAccounts2023-11-012024-10-3114451716bus:PrivateLimitedCompanyLtd2023-11-012024-10-3114451716core:WithinOneYear2024-10-3114451716core:AfterOneYear2024-10-3114451716core:WithinOneYear2023-10-3114451716core:AfterOneYear2023-10-3114451716core:ShareCapital2024-10-3114451716core:SharePremium2024-10-3114451716core:RevaluationReserve2024-10-3114451716core:OtherReservesSubtotal2024-10-3114451716core:RetainedEarningsAccumulatedLosses2024-10-3114451716core:ShareCapital2023-10-3114451716core:SharePremium2023-10-3114451716core:RevaluationReserve2023-10-3114451716core:OtherReservesSubtotal2023-10-3114451716core:RetainedEarningsAccumulatedLosses2023-10-3114451716core:LandBuildings2024-10-3114451716core:PlantMachinery2024-10-3114451716core:Vehicles2024-10-3114451716core:FurnitureFittings2024-10-3114451716core:OfficeEquipment2024-10-3114451716core:NetGoodwill2024-10-3114451716core:IntangibleAssetsOtherThanGoodwill2024-10-3114451716core:ListedExchangeTraded2024-10-3114451716core:UnlistedNon-exchangeTraded2024-10-3114451716core:LandBuildings2023-10-3114451716core:PlantMachinery2023-10-3114451716core:Vehicles2023-10-3114451716core:FurnitureFittings2023-10-3114451716core:OfficeEquipment2023-10-3114451716core:NetGoodwill2023-10-3114451716core:IntangibleAssetsOtherThanGoodwill2023-10-3114451716core:ListedExchangeTraded2023-10-3114451716core:UnlistedNon-exchangeTraded2023-10-3114451716core:LandBuildings2023-11-012024-10-3114451716core:PlantMachinery2023-11-012024-10-3114451716core:Vehicles2023-11-012024-10-3114451716core:FurnitureFittings2023-11-012024-10-3114451716core:OfficeEquipment2023-11-012024-10-3114451716core:NetGoodwill2023-11-012024-10-3114451716core:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3114451716core:ListedExchangeTraded2023-11-012024-10-3114451716core:UnlistedNon-exchangeTraded2023-11-012024-10-3114451716core:MoreThanFiveYears2023-11-012024-10-3114451716core:Non-currentFinancialInstruments2024-10-3114451716core:Non-currentFinancialInstruments2023-10-3114451716dpl:CostSales2023-11-012024-10-3114451716dpl:DistributionCosts2023-11-012024-10-3114451716core:LandBuildings2023-11-012024-10-3114451716core:PlantMachinery2023-11-012024-10-3114451716core:Vehicles2023-11-012024-10-3114451716core:FurnitureFittings2023-11-012024-10-3114451716core:OfficeEquipment2023-11-012024-10-3114451716dpl:AdministrativeExpenses2023-11-012024-10-3114451716core:NetGoodwill2023-11-012024-10-3114451716core:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3114451716dpl:GroupUndertakings2023-11-012024-10-3114451716dpl:ParticipatingInterests2023-11-012024-10-3114451716dpl:GroupUndertakingscore:ListedExchangeTraded2023-11-012024-10-3114451716core:ListedExchangeTraded2023-11-012024-10-3114451716dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-11-012024-10-3114451716core:UnlistedNon-exchangeTraded2023-11-012024-10-3114451716dpl:CostSales2022-10-312023-10-3114451716dpl:DistributionCosts2022-10-312023-10-3114451716core:LandBuildings2022-10-312023-10-3114451716core:PlantMachinery2022-10-312023-10-3114451716core:Vehicles2022-10-312023-10-3114451716core:FurnitureFittings2022-10-312023-10-3114451716core:OfficeEquipment2022-10-312023-10-3114451716dpl:AdministrativeExpenses2022-10-312023-10-3114451716core:NetGoodwill2022-10-312023-10-3114451716core:IntangibleAssetsOtherThanGoodwill2022-10-312023-10-3114451716dpl:GroupUndertakings2022-10-312023-10-3114451716dpl:ParticipatingInterests2022-10-312023-10-3114451716dpl:GroupUndertakingscore:ListedExchangeTraded2022-10-312023-10-3114451716core:ListedExchangeTraded2022-10-312023-10-3114451716dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-10-312023-10-3114451716core:UnlistedNon-exchangeTraded2022-10-312023-10-3114451716core:NetGoodwill2024-10-3114451716core:IntangibleAssetsOtherThanGoodwill2024-10-3114451716core:LandBuildings2024-10-3114451716core:PlantMachinery2024-10-3114451716core:Vehicles2024-10-3114451716core:FurnitureFittings2024-10-3114451716core:OfficeEquipment2024-10-3114451716core:AfterOneYear2024-10-3114451716core:WithinOneYear2024-10-3114451716core:ListedExchangeTraded2024-10-3114451716core:UnlistedNon-exchangeTraded2024-10-3114451716core:ShareCapital2024-10-3114451716core:SharePremium2024-10-3114451716core:RevaluationReserve2024-10-3114451716core:OtherReservesSubtotal2024-10-3114451716core:RetainedEarningsAccumulatedLosses2024-10-3114451716core:NetGoodwill2023-10-3114451716core:IntangibleAssetsOtherThanGoodwill2023-10-3114451716core:LandBuildings2023-10-3114451716core:PlantMachinery2023-10-3114451716core:Vehicles2023-10-3114451716core:FurnitureFittings2023-10-3114451716core:OfficeEquipment2023-10-3114451716core:AfterOneYear2023-10-3114451716core:WithinOneYear2023-10-3114451716core:ListedExchangeTraded2023-10-3114451716core:UnlistedNon-exchangeTraded2023-10-3114451716core:ShareCapital2023-10-3114451716core:SharePremium2023-10-3114451716core:RevaluationReserve2023-10-3114451716core:OtherReservesSubtotal2023-10-3114451716core:RetainedEarningsAccumulatedLosses2023-10-3114451716core:NetGoodwill2022-10-3014451716core:IntangibleAssetsOtherThanGoodwill2022-10-3014451716core:LandBuildings2022-10-3014451716core:PlantMachinery2022-10-3014451716core:Vehicles2022-10-3014451716core:FurnitureFittings2022-10-3014451716core:OfficeEquipment2022-10-3014451716core:AfterOneYear2022-10-3014451716core:WithinOneYear2022-10-3014451716core:ListedExchangeTraded2022-10-3014451716core:UnlistedNon-exchangeTraded2022-10-3014451716core:ShareCapital2022-10-3014451716core:SharePremium2022-10-3014451716core:RevaluationReserve2022-10-3014451716core:OtherReservesSubtotal2022-10-3014451716core:RetainedEarningsAccumulatedLosses2022-10-3014451716core:AfterOneYear2023-11-012024-10-3114451716core:WithinOneYear2023-11-012024-10-3114451716core:Non-currentFinancialInstrumentscore:CostValuation2023-11-012024-10-3114451716core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-11-012024-10-3114451716core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-11-012024-10-3114451716core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-11-012024-10-3114451716core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-11-012024-10-3114451716core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-11-012024-10-3114451716core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-11-012024-10-3114451716core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-11-012024-10-3114451716core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-11-012024-10-3114451716core:Non-currentFinancialInstrumentscore:CostValuation2024-10-3114451716core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-10-3114451716core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-10-3114451716core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-10-3114451716core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-10-3114451716core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-10-3114451716core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-10-3114451716core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-10-3114451716core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-10-3114451716core:Non-currentFinancialInstrumentscore:CostValuation2023-10-3114451716core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-10-3114451716core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-10-3114451716core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-10-3114451716core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-10-3114451716core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-10-3114451716core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-10-3114451716core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-10-3114451716core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-10-3114451716bus:Director12023-11-012024-10-31

CORELAIN LTD

Registered Number
14451716
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

CORELAIN LTD
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

CHADWICK, Ian Geoffrey

Registered Address

3rd Floor, Cardinal House
20 St. Mary's Parsonage
Manchester
M3 2LY

Registered Number

14451716 (England and Wales)
CORELAIN LTD
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets421,68415,193
21,68415,193
Current assets
Debtors1,250,8971,140,356
Cash at bank and on hand55,02341,763
1,305,9201,182,119
Creditors amounts falling due within one year6(335,031)(545,938)
Net current assets (liabilities)970,889636,181
Total assets less current liabilities992,573651,374
Creditors amounts falling due after one year7(481,482)(168,001)
Net assets511,091483,373
Capital and reserves
Called up share capital100100
Other reserves483,273-
Profit and loss account27,718483,273
Shareholders' funds511,091483,373
The financial statements were approved and authorised for issue by the Director on 25 July 2025, and are signed on its behalf by:
CHADWICK, Ian Geoffrey
Director
Registered Company No. 14451716
CORELAIN LTD
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
Corelain Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, Cardinal House, 20 St. Mary's Parsonage, Manchester, England, M3 2LY.
Statement of compliance
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Functional and presentation currency
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 £.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements. These forecasts show that the company continues to generate cash and profits and as such the company would have sufficient headroom to continue to trade for the foreseeable future (12 months from the date of signing of the balance sheet). In the event that trading conditions deteriorate, the company retains the support of its shareholder and the ability to source external financing to support the company as appropriate. On this basis the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
Turnover is recognised at the fair value of the consideration received or receivable for 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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year2218
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 2317,017
Additions12,833
At 31 October 2429,850
Depreciation and impairment
At 01 November 231,824
Charge for year6,342
At 31 October 248,166
Net book value
At 31 October 2421,684
At 31 October 2315,193
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: Motor vehicles 25% Reducing balance 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.
5.Impairment of tangible fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables32,288229,244
Taxation and social security302,743316,694
Total335,031545,938
7.Creditors: amounts due after one year

2024

2023

££
Trade creditors / trade payables481,482168,001
Total481,482168,001
8.Controlling party
By virtue of ownership of entire issued share capital of the company, the director is the controlling party.