Core Scorpio Limited
Core Scorpio Limited
Registered number: 11653373
Unaudited Financial Statements
For The Year Ended
31 December 2022
Core Scorpio Limited
Unaudited Financial Statements
For The Year Ended
31 December 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Page 1
Core Scorpio Limited
Balance Sheet
As At
31 December 2022
Balance Sheet
Registered number:
11653373
For the year ending 31 December 2022 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.
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| NET ASSETS/(LIABILITIES) |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 125 | (146,907) | |||
Page 1
Page 2
Core Scorpio Limited
Balance Sheet (continued)
As At
31 December 2022
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Core Scorpio Limited
Notes to the Financial Statements
For The Year Ended
31 December 2022
Notes to the Financial Statements
1.
General Information
Core Scorpio Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
11653373
. The registered office is Environmental Finance Limited W106 Vox Studios, 1-45 Durham Street, London, SE11 5JH.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
TUnless otherwise specified, the financial statements have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A – The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006. The March 2018 edition of FRS 102 includes certain amendments arising from the Financial Reporting Council’s triennial review of the standard. There is no material effect on the amounts recognised in these financial statements as a result of early adoption of these amendments.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company’s accounting policies.
The following principal accounting policies have been applied.
2.2.
Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets comprise goodwill on acquisiition of subsidiary. Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.
The estimated useful lives range as follows:
Goodwill - 23 years
2.3.
Interest Income
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
2.4.
Finance costs
Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
1.6. Trade and other debtors
Short term debtors are measured at their transaction value, less any impairment.
1.7. Trade and other creditors
Short term creditors are measured at their transaction cost.
1.8. Cash and Cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible into known amounts of cash with insignificant risk of change in value.
Page 3
Page 4
Core Scorpio Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 4 (2021: 4)
4.
Intangible Assets
| Investment in subsidiaries | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at
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| Disposals | (266,197) | ||
| As at
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| Amortisation | |||
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| Disposals | (35,355) | ||
| As at
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| Net Book Value | |||
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5.
Debtors
| 2022 | 2021 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| VAT |
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| Called up share capital not paid |
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| Amounts owed by group undertakings |
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| Due after more than one year | |||
| Amounts owed by group undertakings |
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Page 4
Page 5
Core Scorpio Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
6.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Trade creditors |
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| VAT | - |
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| Accruals and deferred income |
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| Amounts owed to group undertakings |
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7.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Amounts owed to group undertakings |
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8.
Share Capital
| 2022 | 2021 | ||
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| £ | £ | ||
| Called Up Share Capital not Paid |
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| Called Up Share Capital has been paid up | 1 | - | |
| Amount of Allotted, Called Up Share Capital |
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9.
Ultimate Controlling Party
The parent and ultimate controlling party is Community Owned Renewable Energy LLP (CORE LLP) which is registered in England and Wales. It prepares publicly available accounts and its registered office is Environmental Finance Limited, W106 Vox Studios, 1-45 Durham Street, London, United Kingdom, SE11 5JH.
Page 5