CORE THERMAL LTD

2023-03-012024-02-292024-02-29false11849229CORE THERMAL 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CORE THERMAL LTD

Registered Number
11849229
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

CORE THERMAL LTD

Company Information
for the year from 1 March 2023 to 29 February 2024


Director	PHILLIPS, Charles


Registered Address	Waterloo House Ellacott Morris Ltd
	2 Colchester Road
	St Osyth
	CO16 8HA


Registered Number	11849229 (England and Wales)

CORE THERMAL LTD

Balance Sheet as at
29 February 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		2,495		3,327
			2,495		3,327
Current assets
Debtors		39,240		62,986
Cash at bank and on hand		80,709		46,881
		119,949		109,867
Creditors amounts falling due within one year	4	(47,173)		(39,520)
Net current assets (liabilities)			72,776		70,347
Total assets less current liabilities			75,271		73,674
Provisions for liabilities			(624)		-
Net assets			74,647		73,674
Capital and reserves
Called up share capital			1		1
Profit and loss account			74,646		73,673
Shareholders' funds			74,647		73,674

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 16 June 2024, and are signed on its behalf by:

PHILLIPS, Charles
Director
Registered Company No. 11849229

CORE THERMAL LTD

Notes to the Financial Statements
for the year ended 29 February 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	25
	Fixtures and fittings	25
	Vehicles	25
	Office Equipment	25

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Vehicles	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 March 23	4,263	274	4,537
At 29 February 24	4,263	274	4,537
Depreciation and impairment
At 01 March 23	1,135	75	1,210
Charge for year	782	50	832
At 29 February 24	1,917	125	2,042
Net book value
At 29 February 24	2,346	149	2,495
At 28 February 23	3,128	199	3,327

4.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	29,934	14,358
Taxation and social security	14,239	16,214
Finance lease and HP contracts	-	1,648
Other creditors	3,000	1,800
Accrued liabilities and deferred income	-	5,500
Total	47,173	39,520


	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.