REGISTERED NUMBER: 12494055 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CORAL INNOVATIONS LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D T Bradley

M W H Rushmore

G Safavi

SECRETARY:

G Safavi

REGISTERED OFFICE:

85 Great Portland Street

First Floor

London

W1W 7LT

REGISTERED NUMBER:

12494055 (England and Wales)

FIXED ASSETS

Intangible assets

4

130,084

22,362

Tangible assets

5

253,066

137,672

383,150

160,034

CURRENT ASSETS

Stocks

3,774,328

1,142,019

Debtors

1,691,858

711,438

Cash at bank

6,712,202

2,470,243

12,178,388

4,323,700

CREDITORS

Amounts falling due within one year

4,558,323

3,164,148

NET CURRENT ASSETS

7,620,065

1,159,552

TOTAL ASSETS LESS CURRENT LIABILITIES

8,003,215

1,319,586

CAPITAL AND RESERVES

Called up share capital

314

255

Share premium

8,723,636

2,795,657

Retained earnings

(720,735

)

(1,476,326

)

8,003,215

1,319,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 3 September 2025 and were signed on its behalf by:

G Safavi - Director

1.	STATUTORY INFORMATION

Coral Innovations Ltd 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Development costs are being amortised evenly over their estimated useful life of three years.

Product development is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Plant & machinery

-

15% on reducing balance

Fixtures & fittings

-

33.3% straight line

Computer equipment

-

33.3% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

26,425

Additions

123,174

At 31 December 2024

149,599

AMORTISATION

At 1 January 2024

4,063

Amortisation for year

15,452

At 31 December 2024

19,515

NET BOOK VALUE

At 31 December 2024

130,084

At 31 December 2023

22,362

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

162,439

Additions

159,015

At 31 December 2024

321,454

DEPRECIATION

At 1 January 2024

24,767

Charge for year

43,621

At 31 December 2024

68,388

NET BOOK VALUE

At 31 December 2024

253,066

At 31 December 2023

137,672

6.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

216,000

-