Registration number: NI602401

Coral Environmental Ltd
(Registration Number: NI602401)

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 8

Coral Environmental Ltd
(Registration Number: NI602401)

Balance Sheet as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	63,110	49,869
Current assets
Stocks	5	44,184	52,303
Debtors	6	303,008	273,943
Cash at bank and in hand		23,433	49,026
		370,625	375,272
Creditors: Amounts falling due within one year	7	(230,359)	(270,981)
Net current assets		140,266	104,291
Total assets less current liabilities		203,376	154,160
Creditors: Amounts falling due after more than one year	7	(40,513)	(63,101)
Provisions for liabilities		(9,519)	(8,447)
Net assets		153,344	82,612
Capital and reserves
Called up share capital	8	100	100
Retained earnings		153,244	82,512
Shareholders' funds		153,344	82,612

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 September 2025
 

......................................... Michael Gray Director

Coral Environmental Ltd
(Registration Number: NI602401)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
Unit B1
West Bank Drive
Belfast
County Antrim
BT3 9LA
Northern Ireland

The presentation currency is £ Sterling.
The level of rounding is to the nearest £.

These financial statements were authorised for issue by the director on 29 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Coral Environmental Ltd
(Registration Number: NI602401)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that
taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have
been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Coral Environmental Ltd
(Registration Number: NI602401)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor Vehicles	25% Straight Line
Equipment	25% Straight Line
Fixtures & Fittings	25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Coral Environmental Ltd
(Registration Number: NI602401)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary Shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2024 - 16).

Coral Environmental Ltd
(Registration Number: NI602401)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2024	10,633	82,566	166,138	259,337
Additions	-	4,225	39,746	43,971
Disposals	-	-	(12,083)	(12,083)
At 30 June 2025	10,633	86,791	193,801	291,225
Depreciation
At 1 July 2024	9,176	78,421	121,871	209,468
Charge for the year	969	2,343	27,418	30,730
Eliminated on disposal	-	-	(12,083)	(12,083)
At 30 June 2025	10,145	80,764	137,206	228,115
Carrying amount
At 30 June 2025	488	6,027	56,595	63,110
At 30 June 2024	1,457	4,145	44,267	49,869

5

Stocks

	2025 £	2024 £
Other inventories	44,184	52,303

6

Debtors

Current	2025 £	2024 £
Trade debtors	245,850	199,905
Prepayments	5,566	11,417
Other debtors	51,592	62,621
	303,008	273,943

Coral Environmental Ltd
(Registration Number: NI602401)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	85,816	130,426
Trade creditors		26,257	47,071
Taxation and social security		113,619	88,465
Other creditors		4,667	5,019
		230,359	270,981

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	40,513	63,101

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	9,723	38,889
Hire purchase contracts	30,790	24,212
	40,513	63,101

Coral Environmental Ltd
(Registration Number: NI602401)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	29,166	29,167
Bank overdrafts	33,297	76,103
Hire purchase contracts	23,353	25,156
	85,816	130,426

10	Related party transactions

Transactions with the director

2025	At 1 July 2024 £	Advances to director £	Repayments by director £	At 30 June 2025 £
Michael Gray
	(875)	57,389	(57,000)	(486)

The above loan is unsecured, interest free and repayable on demand.