Company Registration No. 08430698 (England and Wales)
CORETECH COMPLIANCE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
United Kingdom
PO6 3TH
CORETECH COMPLIANCE LTD
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Current assets
-
-
Creditors: amounts falling due within one year
3
(600)
(600)
Net current liabilities
(600)
(600)
Creditors: amounts falling due after more than one year
4
(30,251)
(30,251)
Net liabilities
(30,851)
(30,851)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(30,852)
(30,852)
Total equity
(30,851)
(30,851)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 March 2021 and are signed on its behalf by:
Mrs. J Hughes
Director
Company Registration No. 08430698
The notes on pages 2 to 3 form part of these financial statements
CORETECH COMPLIANCE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
1
Accounting policies
Company information
Coretech Compliance Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial period. During
this time,
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors loans from
related
companies
that
are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
CORETECH COMPLIANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
-
3
Creditors: amounts falling due within one year
2020
2019
£
£
Other creditors
600
600
4
Creditors: amounts falling due after more than one year
2020
2019
£
£
Amounts owed to group undertakings
30,251
30,251
5
Related party transactions
In accordance with Section 33.1A of FRS 102 the company has applied the exemption from disclosing transactions and balances with fellow wholly owned members of the same group.