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Registration number: 10783864

Corelco Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 January 2025

Corelco Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 5

Corelco Ltd

Company Information

Directors | Mr J J P Priestley Mr A D Beevers

Registered office | Oxo House 4 Joiner Street Sheffield S3 8GW

Accountants | CHF Accountancy Limited Courtwood House Silver Street Head Sheffield South Yorkshire S1 2DD

Corelco Ltd

(Registration number: 10783864)
Balance Sheet as at 31 January 2025

| Note | 2025 £ | 2024 £
Current assets |  |  |
Debtors | 4 | 50,001 | 624
Cash at bank and in hand |  | 935 | 653
|  | 50,936 | 1,277
Creditors: Amounts falling due within one year | 5 | (48,769) | (2,413)
Net assets/(liabilities) |  | 2,167 | (1,136)
Capital and reserves |  |  |
Called up share capital | 6 | 2 | 2
Retained earnings |  | 2,165 | (1,138)
Shareholders' funds/(deficit) |  | 2,167 | (1,136)

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 November 2025 and signed on its behalf by:

......................................... Mr J J P Priestley Director

Corelco Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Oxo House
4 Joiner Street
Sheffield
S3 8GW
United Kingdom

These financial statements were authorised for issue by the Board on 4 November 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.

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.

Corelco Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

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.

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.

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 directors) during the year, was 0 (2024 - 0).

4 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 50,000 | -
Prepayments | - | 116
Other debtors | 1 | 508
| 50,001 | 624

Corelco Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

5 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 38,252 | 1,781
Taxation and social security | 967 | -
Accruals and deferred income | 550 | 632
Other creditors | 9,000 | -
| 48,769 | 2,413

6 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 1 | 1 | 1 | 1

Allotted, called up and not fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 1 | 1 | 1 | 1

7 | Related party transactions

Summary of transactions with all entities with joint control or significant interest

During the year, the company paid consultancy fees totalling £116,250 (2024 : £18,250) excluding VAT to each of the following companies:
OXO House Associates Limited, jointly controlled by AD Beevers
Tokenmarket Limited, controlled by JJP Priestley
A loan of £9000 was received from Tokenmarket Limited, which was repaid in March 2025. The balance is included in other creditors at 31 January 2025..