REGISTERED NUMBER: SC130145 (Scotland)

Unaudited Financial Statements

for the Year Ended 28 February 2017

for

Core 94 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J W Topley

Mrs A Topley

SECRETARY:

Brodies Secretarial Services Limited

REGISTERED OFFICE:

Brodies House

31-33 Union Grove

Aberdeen

AB10 6SD

REGISTERED NUMBER:

SC130145 (Scotland)

ACCOUNTANTS:

SBP

Accountants

49 Carden Place

Aberdeen

AB10 1UN

FIXED ASSETS

Tangible assets

4

18,801

21,274

CURRENT ASSETS

Stocks

70,286

70,375

Debtors

5

75,524

60,620

Cash at bank and in hand

54,351

76,007

200,161

207,002

CREDITORS

Amounts falling due within one year

6

79,278

91,116

NET CURRENT ASSETS

120,883

115,886

TOTAL ASSETS LESS CURRENT LIABILITIES

139,684

137,160

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

139,584

137,060

SHAREHOLDERS' FUNDS

139,684

137,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 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.

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 28 November 2017 and were signed on its behalf by:

Mrs A Topley - Director

1.	STATUTORY INFORMATION

Core 94 Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2016

37,429

136,272

173,701

Additions

-

18,495

18,495

Disposals

-

(21,995

)

(21,995

)

At 28 February 2017

37,429

132,772

170,201

DEPRECIATION

At 1 March 2016

29,178

123,249

152,427

Charge for year

2,995

6,974

9,969

Eliminated on disposal

-

(10,996

)

(10,996

)

At 28 February 2017

32,173

119,227

151,400

NET BOOK VALUE

At 28 February 2017

5,256

13,545

18,801

At 29 February 2016

8,251

13,023

21,274

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Trade debtors

66,621

44,807

Other debtors

8,903

15,813

75,524

60,620

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Bank loans and overdrafts

-

1,361

Trade creditors

6,022

10,479

Taxation and social security

52,690

52,033

Other creditors

20,566

27,243

79,278

91,116

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2017 and

29 February 2016:

28.2.17

29.2.16

£

£

J W Topley

Balance outstanding at start of year

3,540

2,501

Amounts advanced

4,217

2,500

Amounts repaid

(2,205

)

(1,461

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,552

3,540

8.	RELATED PARTY DISCLOSURES

a) Jason Topley and Alison Topley are directors and has a controlling interest in Aquademics Education Limited.

During the year the company paid expenses of £2,885 (2016: £7,333) on behalf of Aquademics Education

Limited. In addition a charge for rent was made to Aquademics Education Limited for £6,000 (2016: £6,000).

At the year end £8,495 (2016: £17,380) was owed by the company.

b) Jason Topley and Alison Topley are directors and has a controlling interest in Watersports Scotland Limited.

During the year the company paid expenses of £7,648 (2016: £8,826) on behalf of Watersports Scotland

Limited. In addition a charge for rent to Watersport Scotland Limited of £2,500 (2016: £2,500) was raised by the

company. During the year Watersports Scotland Limited raised a management charge of £14,700 \2016;

£17,000 \ to the company. At the year end; £2,102 (2016: £6,654) was owed to the company.