REGISTERED NUMBER: 05332008 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

CORE TELECOM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P M Turner

P S Wellings

REGISTERED OFFICE:

Mazhar House

48 Bradford Road

Stanningley

Leeds

West Yorkshire

LS28 6DD

REGISTERED NUMBER:

05332008 (England and Wales)

ACCOUNTANTS:

bk plus Keighley

Chartered Certified Accountants

Suite 1, Aireside House

Royd Ings Avenue

Keighley

West Yorkshire

BD21 4BZ

FIXED ASSETS

Tangible assets

4

213,176

353,216

Investments

5

333,331

255,554

Investment property

6

505,000

505,000

1,051,507

1,113,770

CURRENT ASSETS

Debtors

7

3,337,899

4,235,596

Cash at bank

194,195

478,562

3,532,094

4,714,158

CREDITORS

Amounts falling due within one year

8

(2,644,505

)

(2,317,701

)

NET CURRENT ASSETS

887,589

2,396,457

TOTAL ASSETS LESS CURRENT LIABILITIES

1,939,096

3,510,227

PROVISIONS FOR LIABILITIES

(48,537

)

(48,536

)

NET ASSETS

1,890,559

3,461,691

CAPITAL AND RESERVES

Called up share capital

9

110

110

Revaluation reserve

10

194,142

194,142

Retained earnings

1,696,307

3,267,439

SHAREHOLDERS' FUNDS

1,890,559

3,461,691

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

P S Wellings - Director

1.	STATUTORY INFORMATION

Core Telecom Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

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

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Revenue is recognised in the period in which the call traffic takes place. This policy is also applied in respect of disputed call traffic which is subsequently agreed.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost.

INVESTMENT PROPERTY

Investment properties are stated at their open market value.

Investment properties are not subjected to depreciation, but are revalued annually, any surplus or deficit being taken to the Revaluation Reserve.

This accounting treatment is a departure from the Companies Act 2006, which requires a surplus or deficit to be taken to the profit or loss account. The directors consider, however, that this treatment is necessary for the accounts to show a true and fair view.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating profit.

HIRE PURCHASE AND LEASING COMMITMENTS

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

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

1,228,082

Additions

916

Disposals

(133,417

)

At 31 March 2025

1,095,581

DEPRECIATION

At 1 April 2024

874,866

Charge for year

65,909

Eliminated on disposal

(58,370

)

At 31 March 2025

882,405

NET BOOK VALUE

At 31 March 2025

213,176

At 31 March 2024

353,216

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 April 2024

50,250

1,185,179

1,235,429

Additions

-

77,777

77,777

At 31 March 2025

50,250

1,262,956

1,313,206

PROVISIONS

At 1 April 2024

and 31 March 2025

-

979,875

979,875

NET BOOK VALUE

At 31 March 2025

50,250

283,081

333,331

At 31 March 2024

50,250

205,304

255,554

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

505,000

NET BOOK VALUE

At 31 March 2025

505,000

At 31 March 2024

505,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

505,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

310,848

310,848

The investment properties were valued on an open market basis basis on 31 March 2025 by the directors. .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,344,941

846,202

Amounts owed by group undertakings

780,524

846,524

Other debtors

1,212,434

2,542,870

3,337,899

4,235,596

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,256,983

409,483

Taxation and social security

325,382

275,266

Other creditors

1,062,140

1,632,952

2,644,505

2,317,701

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

10

B Ordinary

£1

10

10

110

110

All classes of shares rank equally in respect of dividends and the repayment of capital. There are no restrictions on the payment of dividends, which are at the discretion of the directors.

10.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

194,142

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

M Mazhar

Balance outstanding at start of year

1,424,011

1,465,230

Amounts advanced

778,828

1,424,011

Amounts repaid

(1,424,011

)

(1,465,230

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

778,828

1,424,011

P M Turner

Balance outstanding at start of year

354,000

767,500

Amounts advanced

258,000

354,000

Amounts repaid

(354,000

)

(767,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

258,000

354,000

There are no specific terms for repayment of these loans and the loans carry no interest.

The loans were repaid by means of dividends declared on 30 April 2025.

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company owns two residential properties, which are occupied rent-free by members of the directors' extended families.

The Company charged a management charge of £262,500 (2024: £300,000) to 08 Direct Limited, a company owned by the directors of Core Telecom Ltd.

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr Mahmood Mazhar, the majority shareholder.