Core Libra Limited
Core Libra Limited
Registered number: 11653375
Unaudited Financial Statements
For The Year Ended
31 December 2022
Core Libra Limited
Unaudited Financial Statements
For The Year Ended
31 December 2022
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Page 1
Core Libra Limited
Balance Sheet
As At
31 December 2022
Balance Sheet
Registered number:
11653375
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 | ||||
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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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 | 6 |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (1,244) | (8,928) | |||
Page 1
Page 2
Core Libra 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 Libra Limited
Notes to the Financial Statements
For The Year Ended
31 December 2022
Notes to the Financial Statements
1.
General Information
Core Libra Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
11653375
. 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
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.
Going Concern Disclosure
The significant debtor and creditor amounts in the balance sheet are due from and owed to respectively the company’s sole borrower and its parent company, and are structured flexibly to fall due and be payable in a back to back manner. On an ongoing basis, the company incurs limited administrative expenses.
At the time of approving the financial statements, the directors have reviewed cash flow forecasts for the business, which indicate that for the foreseeable future the company will be able to settle demands and liabilities as they fall due from cash from operations and existing working capital. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is shown net of sales value added tax, returns, rebates and discounts.
2.4.
Foreign Currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
2.5.
Taxation
Tax is recognised in the Statement of Comprehensive Income.
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 current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.
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Page 4
Core Libra Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
2.6.
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.
1.7. Borrowing costs
All borrowing costs are recognised in the Statement of Comprehensive Income in the period in which they are incurred
1.8. Trade and other debtors
Trade and other debtors are measured at their transaction value, less any impairment.
1.9. Trade and other creditors
Short term creditors are measured at their transaction cost. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 4 (2021: 4)
4.
Debtors
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| Due within one year | |||
| Prepayments and accrued income |
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| Called up share capital not paid |
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| Due after more than one year | |||
| Other debtors |
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5.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Trade creditors |
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| Accruals and deferred income |
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| Amounts owed to group undertakings |
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Page 4
Page 5
Core Libra Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
6.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Amounts owed to group undertakings |
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7.
Share Capital
| 2022 | 2021 | ||
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| £ | £ | ||
| Called Up Share Capital not Paid |
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| Amount of Allotted, Called Up Share Capital |
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8.
Related Party Transactions
The company is a wholly owned subsidiary and is not required to disclose related party transactions under FRS102.
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 consolidated accounts and its registered office is Environmental Finance Limited W106 Vox Studios, 1-45 Durham Street, London, United Kingdom, SE11 5JH. The results of CORE LIBRA LIMITED are consolidated into the CORE LLP accounts.
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