| Core5 Developments Limited |
| Registered number: |
11537643 |
| Balance Sheet |
| as at 31 July 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
464,388 |
|
|
459,588 |
|
| Current assets |
| Debtors |
4 |
|
184 |
|
|
302 |
| Cash at bank and in hand |
|
|
420 |
|
|
516 |
|
|
|
604 |
|
|
818 |
|
| Creditors: amounts falling due within one year |
5 |
|
(490,782) |
|
|
(476,744) |
|
| Net current liabilities |
|
|
|
(490,178) |
|
|
(475,926) |
|
| Net liabilities |
|
|
|
(25,790) |
|
|
(16,338) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
4 |
|
|
4 |
| Profit and loss account |
|
|
|
(25,794) |
|
|
(16,342) |
|
| Shareholders' funds |
|
|
|
(25,790) |
|
|
(16,338) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| N J Higgins |
| Director |
| Approved by the board on 3 July 2023 |
|
| Core5 Developments Limited |
| Notes to the Accounts |
| for the period ended 31 July 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
|
|
Tangible fixed assets |
|
Investment properties
In accordance with the Financial Reporting Standard for Small Entities (effective January 2015) no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the director considers that to depreciate them would not give a true and fair view. Depreciation in only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The director considers that this policy results in the accounts giving a true and fair view. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Investment properties |
| £ |
|
Cost |
|
At 1 August 2021 |
459,588 |
|
Additions |
4,800 |
|
At 31 July 2022 |
464,388 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 July 2022 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2022 |
464,388 |
|
At 31 July 2021 |
459,588 |
|
|
| 4 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Other debtors |
184 |
|
302 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Other creditors |
490,782 |
|
476,744 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Core5 Developments Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
234 Leicester Road |
|
Loughborough |
|
Leicestershire |
|
LE11 2AH |
