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REGISTERED NUMBER: 13361729 (England and Wales)










Unaudited Financial Statements

For The Period 27 April 2021 to 30 April 2022

for

8 Corners Ltd

8 Corners Ltd (Registered number: 13361729)






Contents of the Financial Statements
For The Period 27 April 2021 to 30 April 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


8 Corners Ltd

Company Information
For The Period 27 April 2021 to 30 April 2022







DIRECTOR: Mr R Spiga





REGISTERED OFFICE: Jubilee House
East Beach
Lytham St.annes
Lancashire
FY8 5FT





REGISTERED NUMBER: 13361729 (England and Wales)





ACCOUNTANTS: Danbro Accounting Ltd
Jubilee House
East Beach
Lytham St.annes
Lancashire
FY8 5FT

8 Corners Ltd (Registered number: 13361729)

Balance Sheet
30 April 2022

Notes £    £   
FIXED ASSETS
Tangible assets 4 323,802

CURRENT ASSETS
Debtors 5 1,351
Cash at bank 1,559
2,910
CREDITORS
Amounts falling due within one year 6 13
NET CURRENT ASSETS 2,897
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,699

CREDITORS
Amounts falling due after more than one
year

7

341,432
NET LIABILITIES (14,733 )

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings (14,734 )
(14,733 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

8 Corners Ltd (Registered number: 13361729)

Balance Sheet - continued
30 April 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 5 September 2022 and were signed by:





Mr R Spiga - Director


8 Corners Ltd (Registered number: 13361729)

Notes to the Financial Statements
For The Period 27 April 2021 to 30 April 2022

1. STATUTORY INFORMATION

8 Corners Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statement have been prepared under the historical cost convention. The principal accounting policies adopted are set out below."

Going concern
These financial statements are prepared on a going concern basis. The Directors have every expectation that the company will continue in operational existence for the foreseeable future and meet its liabilities as they fall due.
The company has been impacted by the COVID-19 pandemic but due to growth seen in spring 2020 the loss of business subsequently experienced has not been as significant, and this has been managed alongside a robust cost management strategy.
Thus the Directors consider it appropriate to prepare these financial statements on a going concern basis."

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are showing within borrowings in current liabilities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

8 Corners Ltd (Registered number: 13361729)

Notes to the Financial Statements - continued
For The Period 27 April 2021 to 30 April 2022

2. ACCOUNTING POLICIES - continued

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measure at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement 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, bank loans and loans from fellow group companies 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 payments discounted at a market rate of interest.

Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividend payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company

Taxation
Taxation for the period 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.


8 Corners Ltd (Registered number: 13361729)

Notes to the Financial Statements - continued
For The Period 27 April 2021 to 30 April 2022

2. ACCOUNTING POLICIES - continued
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 period 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.

Reporting period
The financial statements have been presented over a period of 13 months, from incorporation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
Additions 323,802
At 30 April 2022 323,802
NET BOOK VALUE
At 30 April 2022 323,802

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 1,350
Other debtors 1
1,351

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 13

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans 236,640
Other creditors 104,792
341,432

8 Corners Ltd (Registered number: 13361729)

Notes to the Financial Statements - continued
For The Period 27 April 2021 to 30 April 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
£   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 236,640

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Mortgage 232,188