Acorah Software Products - Accounts Production 16.6.950 false true 29 February 2024 1 September 2022 false 1 March 2024 28 February 2025 28 February 2025 03106158 Mr Geoffrey Jones Mr Salvatore Marino iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03106158 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2025-02-28 03106158 2024-02-29 03106158 2025-02-28 03106158 2024-03-01 2025-02-28 03106158 frs-core:CurrentFinancialInstruments 2025-02-28 03106158 frs-core:Non-currentFinancialInstruments 2025-02-28 03106158 frs-core:FurnitureFittings 2024-03-01 2025-02-28 03106158 frs-core:LandBuildings 2025-02-28 03106158 frs-core:LandBuildings 2024-03-01 2025-02-28 03106158 frs-core:LandBuildings 2024-02-29 03106158 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 03106158 frs-core:MotorVehicles 2024-03-01 2025-02-28 03106158 frs-core:PlantMachinery 2025-02-28 03106158 frs-core:PlantMachinery 2024-03-01 2025-02-28 03106158 frs-core:PlantMachinery 2024-02-29 03106158 frs-core:ShareCapital 2025-02-28 03106158 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 03106158 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 03106158 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 03106158 frs-bus:SmallEntities 2024-03-01 2025-02-28 03106158 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 03106158 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 03106158 frs-bus:OrdinaryShareClass1 2024-03-01 2025-02-28 03106158 frs-bus:OrdinaryShareClass1 2025-02-28 03106158 frs-bus:OrdinaryShareClass2 2024-03-01 2025-02-28 03106158 frs-bus:OrdinaryShareClass2 2025-02-28 03106158 frs-bus:OrdinaryShareClass3 2024-03-01 2025-02-28 03106158 frs-bus:OrdinaryShareClass3 2025-02-28 03106158 frs-bus:OrdinaryShareClass4 2024-03-01 2025-02-28 03106158 frs-bus:OrdinaryShareClass4 2025-02-28 03106158 frs-bus:OrdinaryShareClass5 2024-03-01 2025-02-28 03106158 frs-bus:OrdinaryShareClass5 2025-02-28 03106158 frs-bus:Director1 2024-03-01 2025-02-28 03106158 frs-bus:Director2 2024-03-01 2025-02-28 03106158 frs-countries:EnglandWales 2024-03-01 2025-02-28 03106158 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-02-29 03106158 2022-08-31 03106158 2024-02-29 03106158 2022-09-01 2024-02-29 03106158 frs-core:CurrentFinancialInstruments 2024-02-29 03106158 frs-core:Non-currentFinancialInstruments 2024-02-29 03106158 frs-core:ShareCapital 2024-02-29 03106158 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 03106158 frs-bus:OrdinaryShareClass1 2022-09-01 2024-02-29 03106158 frs-bus:OrdinaryShareClass2 2022-09-01 2024-02-29 03106158 frs-bus:OrdinaryShareClass3 2022-09-01 2024-02-29 03106158 frs-bus:OrdinaryShareClass4 2022-09-01 2024-02-29 03106158 frs-bus:OrdinaryShareClass5 2022-09-01 2024-02-29
Registered number: 03106158
Core (UK) Limited
Financial Statements
For The Year Ended 28 February 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03106158
28 February 2025 29 February 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,521,272 1,622,267
1,521,272 1,622,267
CURRENT ASSETS
Debtors 5 1,417,923 2,516,232
Cash at bank and in hand 4,242,468 5,096,195
5,660,391 7,612,427
Creditors: Amounts Falling Due Within One Year 6 (1,144,757 ) (1,805,925 )
NET CURRENT ASSETS (LIABILITIES) 4,515,634 5,806,502
TOTAL ASSETS LESS CURRENT LIABILITIES 6,036,906 7,428,769
Creditors: Amounts Falling Due After More Than One Year 7 (316,955 ) (342,133 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,542 ) (20,237 )
NET ASSETS 5,714,409 7,066,399
CAPITAL AND RESERVES
Called up share capital 9 66,667 66,667
Profit and Loss Account 5,647,742 6,999,732
SHAREHOLDERS' FUNDS 5,714,409 7,066,399
Page 1
Page 2
For the year ending 28 February 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 Salvatore Marino
Director
27/11/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Core (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03106158 . The registered office is First Floor, 50 Lisson Street, London, NW1 5DF.
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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
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:
Freehold 2% straight line
Plant & Machinery 25% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% straight line
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. 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. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 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. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Reporting Period
These financial statements are prepared for a 12 month period from 1 March 2024 to 28 February 2025, the comparatives cover a period of 18 months from 1 September2022 to 29 February 2024, therefore the comparative figures are not entirely comparable.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2024: 21)
30 21
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 March 2024 1,762,710 206,605 1,969,315
Additions - 38,181 38,181
Disposals - (70,983 ) (70,983 )
As at 28 February 2025 1,762,710 173,803 1,936,513
Depreciation
As at 1 March 2024 277,841 69,207 347,048
Provided during the period 35,254 49,486 84,740
Disposals - (16,547 ) (16,547 )
As at 28 February 2025 313,095 102,146 415,241
Net Book Value
As at 28 February 2025 1,449,615 71,657 1,521,272
As at 1 March 2024 1,484,869 137,398 1,622,267
5. Debtors
28 February 2025 29 February 2024
£ £
Due within one year
Trade debtors 433,129 892,201
Other debtors 984,794 1,624,031
1,417,923 2,516,232
6. Creditors: Amounts Falling Due Within One Year
28 February 2025 29 February 2024
£ £
Trade creditors 46,817 198,454
Bank loans and overdrafts 26,469 23,492
Corporation tax 130,417 1,014,878
Other taxes and social security 54,455 59,942
Net wages 20 -
Other creditors 8,763 14,439
Accruals and deferred income 877,816 494,720
1,144,757 1,805,925
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
28 February 2025 29 February 2024
£ £
Bank loans 316,955 342,133
Of the creditors falling due after more than one year the following amounts are due after more than five years.
28 February 2025 29 February 2024
£ £
Bank loans 189,740 225,063
8. Secured Creditors
Of the creditors the following amounts are secured by way of a fixed and floaring charge over all the property or undertakings of the company.
28 February 2025 29 February 2024
£ £
Bank loans and overdrafts 343,424 365,625
9. Share Capital
28 February 2025 29 February 2024
Allotted, called up and fully paid £ £
18,323 A Ordinary Shares of £ 1.00 each 18,323 18,323
18,322 B Ordinary shares of £ 1.00 each 18,322 18,322
18,322 C Ordinary shares of £ 1.00 each 18,322 18,322
3,900 D Ordinary shares of £ 1.00 each 3,900 3,900
3,900 E Ordinary shares of £ 1.00 each 3,900 3,900
3,900 F Ordinary shares of £ 1.00 each 3,900 3,900
66,667 66,667
10. Related Party Transactions
Amounts owed by a former director at 29 February 2025 were £630,000 (2024: £1,184,738)
Page 5