Company registration number 06587855 (England and Wales)
CORECOM CONSULTING LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CORECOM CONSULTING LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
CORECOM CONSULTING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2024. The financial statements have not been audited.

Principal activities

The principal activity of the company continued to be that of recruitment of IT specialists and provision of IT contractors.

The results for the year and the financial position at the year end were considered satisfactory by the directors who expect continued growth in the foreseeable future.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

R Hughes
J Sanderson
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Business review

Corecom Consulting has continued to perform strongly, delivering a healthy operating profit and making strategic investments to support long-term growth. The business has made significant progress in driving operational efficiency through the adoption of new technologies, enhancing both productivity and service delivery.

We continue to diversify our client base, with encouraging growth in markets outside of the UK. This international expansion forms a key part of our long-term strategy to reduce dependency on any single geography and increase resilience across the group.

Further investment has been directed into advanced technology markets, including artificial intelligence, machine learning, and high-growth tech start-ups. These areas represent key opportunities for innovation and long-term value creation.

The directors are also encouraged by the progress and impact of investments made in entities under common control which continues to align strongly with our strategic goals and values.

Looking ahead, we remain confident in our ability to deliver sustainable growth, supported by a clear strategy, strong market positioning, and a commitment to continuous innovation.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
J Sanderson
Director
1 September 2025
CORECOM CONSULTING LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
21,045
26,192
Investments
4
86
86
21,131
26,278
Current assets
Debtors
5
1,138,527
790,399
Cash at bank and in hand
25,960
10,906
1,164,487
801,305
Creditors: amounts falling due within one year
6
(920,140)
(495,228)
Net current assets
244,347
306,077
Total assets less current liabilities
265,478
332,355
Creditors: amounts falling due after more than one year
7
(39,546)
-
0
Provisions for liabilities
(4,100)
(4,323)
Net assets
221,832
328,032
Capital and reserves
Called up share capital
230
230
Profit and loss reserves
221,602
327,802
Total equity
221,832
328,032
CORECOM CONSULTING LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 3 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 September 2025 and are signed on its behalf by:
J Sanderson
Director
Company registration number 06587855 (England and Wales)
CORECOM CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

Corecom Consulting Limited is a private company limited by shares incorporated in England and Wales. The registered office is Yorkshire Hub, East Parade, Leeds, England, LS1 5SH.

1.1
Accounting convention

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 are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Income represents revenue earned under a wide variety of contracts to provide services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients including expenses and disbursements but excluding value added tax.

Other operating income represents recharges made at market value and is recognised in the same period as the relevant cost.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% on straight line
Computer equipment
33% on 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.

1.4
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

CORECOM CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of 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).

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances and loans to fellow group companies, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

CORECOM CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
27
37
CORECOM CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 January 2024
15,929
65,390
81,319
Additions
2,459
3,885
6,344
At 31 December 2024
18,388
69,275
87,663
Depreciation
At 1 January 2024
10,711
44,416
55,127
Depreciation charged in the year
3,659
7,832
11,491
At 31 December 2024
14,370
52,248
66,618
Carrying amount
At 31 December 2024
4,018
17,027
21,045
At 31 December 2023
5,218
20,974
26,192
4
Fixed asset investments
2024
2023
£
£
Investment in subsidiaries
86
86
CORECOM CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
568,364
217,794
Amounts owed by group undertakings
250,629
2,100
Other debtors
39,374
281,637
Prepayments and accrued income
280,160
266,734
1,138,527
768,265
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
22,134
Total debtors
1,138,527
790,399
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
7,174
-
0
Trade creditors
435,188
254,755
Taxation and social security
182,869
119,691
Other creditors
294,909
120,782
920,140
495,228

Included in o ther c reditors is the invoice discounting facility with a balance of £169,213 (202 3: £48,834). The facility is secured by a fixed and floating charge over the company's assets.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
39,546
-
0
8
Related party transactions

Included within other debtors is a balance of £31,586 (20 23: £31,586) due from a company under common control, this is interest free and repayable on demand.

Included within other debtors is a balance of £432 (2023: £nil) due from a company shareholder.

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