| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 May 2025 |
| for |
| Core Ldn Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 May 2025 |
| for |
| Core Ldn Ltd |
| Core Ldn Ltd (Registered number: 10766393) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Core Ldn Ltd |
| Company Information |
| for the Year Ended 31 May 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Core Ldn Ltd (Registered number: 10766393) |
| Balance Sheet |
| 31 May 2025 |
| 2025 | 2024 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Share premium | 12 |
| Other reserves | 12 |
| Retained earnings | 12 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 were approved by the Board of Directors and authorised for issue on |
| Core Ldn Ltd (Registered number: 10766393) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2025 |
| 1. | STATUTORY INFORMATION |
| Core Ldn Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Core Ldn Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| 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 rendering of services. Turnover is reduced for estimated customer rebates and other similar allowances. |
| 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. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost less impairment. |
| 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. |
| 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. |
| Core Ldn Ltd (Registered number: 10766393) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of twelve months from the date of approval of these financial statements. |
| Share-based payments |
| The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured using an option valuation model, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do not meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2024 |
| and 31 May 2025 |
| DEPRECIATION |
| At 1 June 2024 |
| Charge for year |
| At 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 June 2024 |
| and 31 May 2025 |
| NET BOOK VALUE |
| At 31 May 2025 |
| At 31 May 2024 |
| Core Ldn Ltd (Registered number: 10766393) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Bank loans |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| as restated |
| £ | £ |
| Debt factoring | 10,922 | 39,578 |
| Ecapital Commercial Finance Limited held a charge over the company's assets dated 27 May 2022, in respect of the debt factoring liability held in other creditors. |
| The charge was satisfied in full on 6 November 2025. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | as restated |
| £ | £ |
| Ordinary | £0.10 | 119 | 112 |
| Core Ldn Ltd (Registered number: 10766393) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2025 |
| 11. | CALLED UP SHARE CAPITAL - continued |
| 77 Ordinary shares of £0.10 each were allotted as fully paid |
| 12. | RESERVES |
| Retained | Share | Other |
| earnings | premium | reserves | Totals |
| £ | £ | £ | £ |
| At 1 June 2024 | ( |
) | (86,149 | ) |
| Deficit for the year | ( |
) | ( |
) |
| Cash share issue | - | 200,193 | - | 200,193 |
| Share based payment charges | - | - | 3,971 | 3,971 |
| At 31 May 2025 | ( |
) | (323,303 | ) |
| 13. | POST BALANCE SHEET EVENTS |
| Since the end of the accounting period, the company has raised £203,700 from the allotment of new ordinary shares. |
| 14. | SHARE-BASED PAYMENT TRANSACTIONS |
| The company operates an equity based share option scheme to certain employees which provides additional remuneration to those employees who are key to the company. The options are granted under an approved EMI and unapproved share option plans. The options expire ten years after the date of the grant. Employees are not entitled to dividends until the shares are exercised. All options granted have conditions relating to the relevant employee remaining in the employment of the company at exercise. |
| A reconciliation of share option movements during the year ended 31 May 2025 is shown below: |
| Year ended 31 May 2025 |
| Number of options - weighted average exercise price |
| Outstanding as at 1 June 2024 | 84 | £50,400 |
| Granted during the year | 19 | £15,676 |
| Forfeited during the year | Nil | £- |
| Exercised during the year | Nil | £- |
| Outstanding as at 31 May 2025 | 103 | £66,076 |
| The company is unable to directly measure the fair value of the share options. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value share option schemes similar to that of the company. |
| Equity settled schemes - charges arising £3,971 (2024: £4,979). |