Cortec Engineering Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 10327766

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		145,117		124,007

			145,117		124,007
CURRENT ASSETS
Stocks	5	7,000		9,000
Debtors	6	71,712		77,182
Cash at bank and in hand		76,881		17,679

		155,593		103,861
Creditors: Amounts Falling Due Within One Year	7	(83,453 )		(59,429 )

NET CURRENT ASSETS (LIABILITIES)			72,140		44,432

TOTAL ASSETS LESS CURRENT LIABILITIES			217,257		168,439

Creditors: Amounts Falling Due After More Than One Year	8		(45,924 )		(8,060 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(27,408 )		(23,361 )

NET ASSETS			143,925		137,018

CAPITAL AND RESERVES
Called up share capital	10		103		103
Profit and Loss Account			143,822		136,915

SHAREHOLDERS' FUNDS			143,925		137,018

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Cortec Engineering Limited

Balance Sheet (continued)

As At 31 August 2025

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr M Kerley

Director

1 December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Cortec Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10327766 . The registered office is 550 Valley Rd, Basford, Nottingham, NG5 1JJ.

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. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 & Machinery	10% reducing balance
Motor Vehicles	25% reducing balance
Computer Equipment	33% straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. 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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Cortec Engineering Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. 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.

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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 5)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 September 2024	201,766	20,183	697	222,646
Additions	42,975	-	-	42,975
Disposals	(8,000 )	-	-	(8,000 )

As at 31 August 2025	236,741	20,183	697	257,621

Depreciation
As at 1 September 2024	84,359	14,050	230	98,639
Provided during the period	15,853	1,533	230	17,616
Disposals	(3,751 )	-	-	(3,751 )

As at 31 August 2025	96,461	15,583	460	112,504

Net Book Value
As at 31 August 2025	140,280	4,600	237	145,117

As at 1 September 2024	117,407	6,133	467	124,007

5. Stocks

	2025	2024
	£	£
Work in progress	7,000	9,000

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	69,446	74,916
Prepayments and accrued income	2,266	2,266

	71,712	77,182

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Cortec Engineering Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	7,928	2,928
Trade creditors	15,656	3,435
Bank loans and overdrafts	10,353	8,699
Corporation tax	20,168	24,051
Other taxes and social security	2,233	694
VAT	20,221	18,592
Other creditors	1	285
Accruals and deferred income	6,300	-
Directors' loan accounts	593	745

	83,453	59,429

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

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	18,365	1,709
Bank loans	27,559	6,351

	45,924	8,060

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	7,928	2,928
Later than one year and not later than five years	18,365	1,709

	26,293	4,637

	26,293	4,637

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	103	103

11. Related Party Transactions

At the balance sheet date £593 (2024: £745) was due from the company to the Directors. The amount is unsecured, interest free and has no fixed repayment date.

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