Registered number
08764586
Kore Associates Ltd
Filleted Accounts
30 November 2024
Kore Associates Ltd
Registered number: 08764586
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 29,400 34,800
Tangible assets 4 7,705 3,955
37,105 38,755
Current assets
Debtors 5 63,999 91,594
Cash at bank and in hand 133,706 318,685
197,705 410,279
Creditors: amounts falling due within one year 6 (214,547) (226,292)
Net current (liabilities)/assets (16,842) 183,987
Net assets 20,263 222,742
Capital and reserves
Called up share capital 100 100
Profit and loss account 20,163 222,642
Shareholder's funds 20,263 222,742
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.
R Perkins
Director
Approved by the board on 29 August 2025
Kore Associates Ltd
Notes to the Accounts
for the year ended 30 November 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 65 62
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 81,000
At 30 November 2024 81,000
Amortisation
At 1 December 2023 46,200
Provided during the year 5,400
At 30 November 2024 51,600
Net book value
At 30 November 2024 29,400
At 30 November 2023 34,800
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 35,895 37,209 73,104
Additions - 7,500 7,500
At 30 November 2024 35,895 44,709 80,604
Depreciation
At 1 December 2023 31,940 37,209 69,149
Charge for the year 1,875 1,875 3,750
At 30 November 2024 33,815 39,084 72,899
Net book value
At 30 November 2024 2,080 5,625 7,705
At 30 November 2023 3,955 - 3,955
5 Debtors 2024 2023
£ £
Trade debtors 63,999 91,594
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 195 75
Taxation and social security costs 55,432 97,165
Other creditors 158,920 129,052
214,547 226,292
7 Other information
Kore Associates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Blaxland Barn
South Barrow
Yeovil
BA22 7LN
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