Core Fire Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Core Fire Ltd is a private company, limited by shares, registered in Scotland, company registration number SC442860 . The registered office is Unit 4 Woodville Park Industrial Estate, Woodville Street, Glasgow, Lanarkshire, G51 2RL.

The presentation currency of the financial statements is Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover comprises the invoiced cost of goods and services sold during the year, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods and services have been passed to the buyer.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of ten years.

2.5. Tangible Fixed Assets and Depreciation

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases.

Plant and machinery etc

25% on reducing balance and 25% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of tangible fixed assets

At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

2.6. Leasing and Hire Purchase Contracts

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Core Fire Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

2.8. 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 accounts receivable and payable, loans from banks and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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

2.9. Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is

presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

2.10. Pensions

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

3. Average Number of Employees

Average number of employees, including directors, during the year was: 12 (2024: 14)

4. Tangible Fixed Assets

	Plant and machinery etc	Motor Vehicles	Total
	£	£	£
Cost
As at 1 July 2024	27,527	37,698	65,225

As at 30 June 2025	27,527	37,698	65,225

Depreciation
As at 1 July 2024	7,789	26,826	34,615
Provided during the period	4,934	9,424	14,358

As at 30 June 2025	12,723	36,250	48,973

Net Book Value
As at 30 June 2025	14,804	1,448	16,252

As at 1 July 2024	19,738	10,872	30,610

Included above are assets held under finance leases or hire purchase contracts with a net book value of £16,252 (2024: £30,611)

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Core Fire Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

5. Stocks

	30 June 2025	30 June 2024
	£	£
Stock	18,000	10,000

6. Debtors

	30 June 2025	30 June 2024
	£	£
Due within one year
Trade debtors	225,011	335,827
Amounts owed by group undertakings	104	104
Other debtors	258,268	222,864

	483,383	558,795

7. Creditors: Amounts Falling Due Within One Year

	30 June 2025	30 June 2024
	£	£
Net obligations under finance lease and hire purchase contracts	14,644	17,726
Trade creditors	132,340	266,801
Bank loans and overdrafts	30,032	11,000
Other loans	27,699	-
Other creditors	97,855	93,302
Taxation and social security	72,985	98,684

	375,555	487,513

8. Creditors: Amounts Falling Due After More Than One Year

	30 June 2025	30 June 2024
	£	£
Net obligations under finance lease and hire purchase contracts	1,256	15,901
Bank loans	-	9,175
Other loans	-	52,699

	1,256	77,775

9. Obligations Under Finance Leases and Hire Purchase

	30 June 2025	30 June 2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	14,644	17,726
Later than one year and not later than five years	1,256	15,901

	15,900	33,627

	15,900	33,627

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Core Fire Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2025

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	30 June 2025	30 June 2024
	£	£
Not later than one year	44,681	43,816
Later than one year and not later than five years	29,597	71,936

	74,278	115,752

11. Ultimate Controlling Party

The company's ultimate controlling party is Core Fire Protection Ltd by virtue of their ownership of 100% of the issued share capital in the company.

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		30 June 2025		30 June 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Fixed Assets	4		16,252		30,610

			16,252		30,610
CURRENT ASSETS
Stocks	5	18,000		10,000
Debtors	6	483,383		558,795
Cash at bank and in hand		26		39,383

		501,409		608,178
Creditors: Amounts Falling Due Within One Year	7	(375,555 )		(487,513 )

NET CURRENT ASSETS (LIABILITIES)			125,854		120,665

TOTAL ASSETS LESS CURRENT LIABILITIES			142,106		151,275

Creditors: Amounts Falling Due After More Than One Year	8		(1,256 )		(77,775 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,694 )		(7,337 )

NET ASSETS			139,156		66,163

CAPITAL AND RESERVES
Called up share capital			100		100
Profit and Loss Account			139,056		66,063

SHAREHOLDERS' FUNDS			139,156		66,163