Corlea Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02692235 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Corlea Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Murray

REGISTERED OFFICE:

York House

York Street

Manchester

M2 3BB

REGISTERED NUMBER:

02692235 (England and Wales)

ACCOUNTANTS:

Pareto Tax & Wealth LLP

Level 7, Tower 12,

18-22 Bridge Street,

Spinningfields,

Manchester

M3 3BZ

FIXED ASSETS

Tangible assets

4

1,897

7,001

Investments

5

151,412

151,412

153,309

158,413

CURRENT ASSETS

Debtors

6

475,583

409,905

Cash at bank

17,412

26,240

492,995

436,145

CREDITORS

Amounts falling due within one year

7

2,387,827

2,116,111

NET CURRENT LIABILITIES

(1,894,832

)

(1,679,966

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,741,523

)

(1,521,553

)

CREDITORS

Amounts falling due after more than one year

8

37,500

50,000

NET LIABILITIES

(1,779,023

)

(1,571,553

)

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

10

10

Retained earnings

(1,779,133

)

(1,571,663

)

(1,779,023

)

(1,571,553

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 21 September 2022 and were signed by:

P Murray - Director

1.	STATUTORY INFORMATION

Corlea 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.

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.

Turnover

Management charges are recognised for the period in which the services are provided.

Tangible fixed assets

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

Land and buildings

-

10% on cost

Plant and machinery etc

-

20% on cost and 10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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 6 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2021

and 31 December 2021

14,934

28,701

43,635

DEPRECIATION

At 1 January 2021

12,573

24,061

36,634

Charge for year

2,361

2,743

5,104

At 31 December 2021

14,934

26,804

41,738

NET BOOK VALUE

At 31 December 2021

-

1,897

1,897

At 31 December 2020

2,361

4,640

7,001

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2021

and 31 December 2021

151,412

NET BOOK VALUE

At 31 December 2021

151,412

At 31 December 2020

151,412

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Amounts owed by group undertakings

354,959

354,959

Other debtors

120,624

54,946

475,583

409,905

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

10,000

-

Trade creditors

30,093

48,269

Amounts owed to group undertakings

2,275,461

1,988,264

Taxation and social security

11,116

38,949

Other creditors

61,157

40,629

2,387,827

2,116,111

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

37,500

50,000

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31 December 2021 the company was owed £7,619 (2020: £21,869) by P G Murray, director.

The amount is interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

At 31 December 2021 the company owed £459,068 (2020: £469,804) to Healthtrust Management Services Limited, a company under common control.

The amount is interest free and repayable on demand.

At 31 December 2021 the company owed £1,380,797 (2020: £1,112,588) to Multiplex Financial Trustees Limited, a company under common control.

The amount is interest free and repayable on demand.

At 31 December 2021 the company owed £435,596 (2019: £405,872) to Multiplex Pension Trustees Limited, a company under common control.

The amount is interest free and repayable on demand.

At 31 December 2021 the company was owed £354,959 (2020: £354,959) by PGM Holdings Limited, a company under common control.

The amount is interest free and repayable on demand.

Included in other debtors, at 31 December 2021, the company was owed £85,829 (2020:£Nil) by P G Murray & J E Hever Partnership, in which P G Murray is a partner.

The amount is interest free and repayable on demand.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Murray.