REGISTERED NUMBER: 10246424 (England and Wales)

Unaudited Financial Statements

for the Year Ended

30 June 2025

for

Coretek Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Y Din

Mrs V C Din

REGISTERED OFFICE:

The Hive

142 Thornes Lane

Wakefield

West Yorkshire

WF2 7RE

REGISTERED NUMBER:

10246424 (England and Wales)

ACCOUNTANTS:

Equate Limited

Chartered Certified Accountants

The Hive

142 Thornes Lane

Wakefield

West Yorkshire

WF2 7RE

FIXED ASSETS

Tangible assets

4

3,373

5,278

Investment property

5

3,665,000

3,465,000

3,668,373

3,470,278

CURRENT ASSETS

Debtors

6

11,252

6,312

Cash at bank

220,184

100,725

231,436

107,037

CREDITORS

Amounts falling due within one year

7

457,055

388,189

NET CURRENT LIABILITIES

(225,619

)

(281,152

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,442,754

3,189,126

CREDITORS

Amounts falling due after more than one year

8

(1,999,670

)

(1,846,528

)

PROVISIONS FOR LIABILITIES

(204,324

)

(190,739

)

NET ASSETS

1,238,760

1,151,859

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,238,660

1,151,759

1,238,760

1,151,859

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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 4 August 2025 and were signed on its behalf by:

M Y Din - Director

1.	STATUTORY INFORMATION

Coretek Properties Limited 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

33% on cost

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

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 2 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2024

3,600

3,562

8,079

15,241

Additions

-

-

1,207

1,207

At 30 June 2025

3,600

3,562

9,286

16,448

DEPRECIATION

At 1 July 2024

2,400

999

6,564

9,963

Charge for year

1,200

641

1,271

3,112

At 30 June 2025

3,600

1,640

7,835

13,075

NET BOOK VALUE

At 30 June 2025

-

1,922

1,451

3,373

At 30 June 2024

1,200

2,563

1,515

5,278

5.	INVESTMENT PROPERTY

At the year end date the director's using their experience of the local property market revalued the properties held by the company.

Fair value at 30 June 2025 is represented by:

£

Valuation in 2018

590,000

Valuation in 2019

320,000

Valuation in 2020

930,500

Valuation in 2021

344,500

Valuation in 2022

585,000

Valuation in 2023

530,000

Valuation in 2024

165,000

Valuation in 2025

200,000

3,665,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Trade debtors

5,699

3,463

Prepayments and accrued income

5,553

2,849

11,252

6,312

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Bank loans and overdrafts

-

2,419

Trade creditors

2,716

1

Taxation and social security

6,225

12,772

Other creditors

448,114

372,997

457,055

388,189

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.25

30.6.24

£

£

Bank loans

1,999,670

1,846,528

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,999,670

1,844,267

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.6.25

30.6.24

£

£

Within one year

6,266

6,266

Between one and five years

2,611

8,877

8,877

15,143

10.	RELATED PARTY DISCLOSURES

During the year the company received a further loan of £137,000 taking the balance to £361,000 (2024: £224,000) from E&D Properties Limited a company a director has a financial interest in.

11.	ULTIMATE CONTROLLING PARTY

The company is under the joint control of it's directors.