Coretek Properties Limited - Accounts to registrar (filleted) - small 18.2

Coretek Properties Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 10246424 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2018

for

Coretek Properties Limited

Coretek Properties Limited (Registered number: 10246424)






Contents of the Financial Statements
for the Year Ended 30 June 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Coretek Properties Limited

Company Information
for the Year Ended 30 June 2018







DIRECTORS: M Y Din
Mrs V C Din





REGISTERED OFFICE: 17 Appleton Court
Calder Park
Wakefield
West Yorkshire
WF2 7AR





REGISTERED NUMBER: 10246424 (England and Wales)





ACCOUNTANTS: Equate Limited
Chartered Certified Accountants
17 Appleton Court
Calder Park
Wakefield
West Yorkshire
WF2 7AR

Coretek Properties Limited (Registered number: 10246424)

Balance Sheet
30 June 2018

30.6.18 30.6.17
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 590,000 495,000

CURRENT ASSETS
Debtors 4 525 1,000
Cash at bank 37,162 20,725
37,687 21,725
CREDITORS
Amounts falling due within one year 5 212,023 166,069
NET CURRENT LIABILITIES (174,336 ) (144,344 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

415,664

350,656

CREDITORS
Amounts falling due after more than one
year

6

(367,904

)

(302,449

)

PROVISIONS FOR LIABILITIES (9,779 ) (9,756 )
NET ASSETS 37,981 38,451

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 37,881 38,351
37,981 38,451

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

Coretek Properties Limited (Registered number: 10246424)

Balance Sheet - continued
30 June 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 September 2018 and were signed on its behalf
by:





M Y Din - Director


Coretek Properties Limited (Registered number: 10246424)

Notes to the Financial Statements
for the Year Ended 30 June 2018

1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

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.

3. INVESTMENT PROPERTY

At the year end date the director's using their experience of the local property market revalued the properties held
by the company.

Fair value at 30 June 2018 is represented by:

£   
Valuation in 2018 590,000

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.18 30.6.17
£    £   
Other debtors 525 1,000

Coretek Properties Limited (Registered number: 10246424)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2018

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.18 30.6.17
£    £   
Bank loans and overdrafts 4,269 2,957
Trade creditors 1 2
Amounts owed to group undertakings 199,550 159,550
Other creditors 8,203 3,560
212,023 166,069

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.18 30.6.17
£    £   
Bank loans 367,904 302,449

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 85,991 85,759

Repayable by instalments
Bank loans more 5 yr by instal 263,113 202,040

7. RELATED PARTY DISCLOSURES

Also during the year loans were advance by Coretek Consulting Limited totalling £40,000, leaving a balance
owing to Coretek Consulting Limited of £199,550. Coretek Consulting Limited is under the common control of
Mr M Y Din and Mrs V C Din. This loan is non interest bearing and repayable on demand.

8. ULTIMATE CONTROLLING PARTY

The company is under the joint control of it's directors.