Company registration number SC794659 (Scotland)
CORR ENGINEERING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
CORR ENGINEERING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CORR ENGINEERING LTD
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
Notes
£
£
Fixed assets
Tangible assets
3
58,367
Current assets
Debtors
4
27,784
Cash at bank and in hand
23,395
51,179
Creditors: amounts falling due within one year
5
(33,919)
Net current assets
17,260
Total assets less current liabilities
75,627
Creditors: amounts falling due after more than one year
6
(16,386)
Provisions for liabilities
(14,592)
Net assets
44,649
Capital and reserves
Called up share capital
1
Profit and loss reserves
44,648
Total equity
44,649

For the financial period ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 7 October 2025
John Corr
Director
Company registration number SC794659 (Scotland)
CORR ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Corr Engineering Ltd is a private company limited by shares incorporated in Scotland. The registered office is 78 Chapel Street, Carluke, ML8 4BD.

1.1
Reporting period

The financial statements cover the period from incorporation of 9 January 2024, and therefore represent an extended period of greater than one year.

1.2
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.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The company recognises revenue from the following major sources:

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.4
Tangible fixed assets

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

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

Plant and equipment
25% Reducing balance
Fixtures and fittings
25% Reducing balance
Computers
25% Reducing balance
Motor vehicles
33% Straight line

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.

CORR ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
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
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.

1.8
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
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.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

CORR ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.10
Leases
As lessee

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

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

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

2025
Number
Total
1
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 9 January 2024
-
0
-
0
-
0
-
0
-
0
Additions
23,065
1,807
5,236
37,250
67,358
At 31 March 2025
23,065
1,807
5,236
37,250
67,358
Depreciation and impairment
At 9 January 2024
-
0
-
0
-
0
-
0
-
0
Depreciation charged in the period
1,175
26
547
7,243
8,991
At 31 March 2025
1,175
26
547
7,243
8,991
Carrying amount
At 31 March 2025
21,890
1,781
4,689
30,007
58,367
4
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
27,081
Other debtors
703
27,784
CORR ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 5 -
5
Creditors: amounts falling due within one year
2025
£
Trade creditors
38
Taxation and social security
18,878
Other creditors
15,003
33,919
6
Creditors: amounts falling due after more than one year
2025
£
Other creditors
16,386
7
Related party transactions
2025
Amounts due to related parties
£
Key management personnel
736

These loans are unsecured, interest free and have no fixed terms of repayment.

2025-03-31 2024-01-09 false false false 07 October 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity John Corr SC794659 2024-01-09 2025-03-31 SC794659 2025-03-31 SC794659 core:PlantMachinery 2025-03-31 SC794659 core:FurnitureFittings 2025-03-31 SC794659 core:ComputerEquipment 2025-03-31 SC794659 core:MotorVehicles 2025-03-31 SC794659 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 SC794659 core:WithinOneYear 2025-03-31 SC794659 core:AfterOneYear 2025-03-31 SC794659 core:CurrentFinancialInstruments 2025-03-31 SC794659 core:ShareCapital 2025-03-31 SC794659 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC794659 bus:Director1 2024-01-09 2025-03-31 SC794659 core:PlantMachinery 2024-01-09 2025-03-31 SC794659 core:FurnitureFittings 2024-01-09 2025-03-31 SC794659 core:ComputerEquipment 2024-01-09 2025-03-31 SC794659 core:MotorVehicles 2024-01-09 2025-03-31 SC794659 core:PlantMachinery 2024-01-08 SC794659 core:FurnitureFittings 2024-01-08 SC794659 core:ComputerEquipment 2024-01-08 SC794659 core:MotorVehicles 2024-01-08 SC794659 2024-01-08 SC794659 core:Non-currentFinancialInstruments 2025-03-31 SC794659 bus:PrivateLimitedCompanyLtd 2024-01-09 2025-03-31 SC794659 bus:SmallCompaniesRegimeForAccounts 2024-01-09 2025-03-31 SC794659 bus:FRS102 2024-01-09 2025-03-31 SC794659 bus:AuditExemptWithAccountantsReport 2024-01-09 2025-03-31 SC794659 bus:FullAccounts 2024-01-09 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP