Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true222022-04-01falsetrueNo description of principal activity21The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06473527 2022-04-01 2023-03-31 06473527 2021-04-01 2022-03-31 06473527 2023-03-31 06473527 2022-03-31 06473527 2021-04-01 06473527 c:Director1 2022-04-01 2023-03-31 06473527 d:MotorVehicles 2022-04-01 2023-03-31 06473527 d:MotorVehicles 2023-03-31 06473527 d:MotorVehicles 2022-03-31 06473527 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06473527 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 06473527 d:FurnitureFittings 2022-04-01 2023-03-31 06473527 d:FurnitureFittings 2023-03-31 06473527 d:FurnitureFittings 2022-03-31 06473527 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06473527 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 06473527 d:OfficeEquipment 2022-04-01 2023-03-31 06473527 d:OfficeEquipment 2023-03-31 06473527 d:OfficeEquipment 2022-03-31 06473527 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06473527 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 06473527 d:ComputerEquipment 2022-04-01 2023-03-31 06473527 d:ComputerEquipment 2023-03-31 06473527 d:ComputerEquipment 2022-03-31 06473527 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06473527 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 06473527 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 06473527 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 06473527 d:CurrentFinancialInstruments 2023-03-31 06473527 d:CurrentFinancialInstruments 2022-03-31 06473527 d:Non-currentFinancialInstruments 2023-03-31 06473527 d:Non-currentFinancialInstruments 2022-03-31 06473527 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06473527 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 06473527 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06473527 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 06473527 d:ShareCapital 2022-04-01 2023-03-31 06473527 d:ShareCapital 2023-03-31 06473527 d:ShareCapital 2021-04-01 2022-03-31 06473527 d:ShareCapital 2022-03-31 06473527 d:ShareCapital 2021-04-01 06473527 d:CapitalRedemptionReserve 2022-04-01 2023-03-31 06473527 d:CapitalRedemptionReserve 2023-03-31 06473527 d:CapitalRedemptionReserve 2021-04-01 2022-03-31 06473527 d:CapitalRedemptionReserve 2022-03-31 06473527 d:CapitalRedemptionReserve 2021-04-01 06473527 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 06473527 d:RetainedEarningsAccumulatedLosses 2023-03-31 06473527 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 06473527 d:RetainedEarningsAccumulatedLosses 2022-03-31 06473527 d:RetainedEarningsAccumulatedLosses 2021-04-01 06473527 c:FRS102 2022-04-01 2023-03-31 06473527 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06473527 c:FullAccounts 2022-04-01 2023-03-31 06473527 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06473527 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 06473527 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 06473527 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 06473527 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 06473527










CORNERSTONE BUSINESS SOLUTIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
REGISTERED NUMBER: 06473527

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
202,236
274,126

  
202,236
274,126

Current assets
  

Stocks
  
8,229
7,500

Debtors: amounts falling due within one year
 5 
525,816
493,319

Cash at bank and in hand
 6 
486,345
612,050

  
1,020,390
1,112,869

Creditors: amounts falling due within one year
 7 
(745,363)
(912,359)

Net current assets
  
 
 
275,027
 
 
200,510

Total assets less current liabilities
  
477,263
474,636

Creditors: amounts falling due after more than one year
 8 
(138,651)
(212,943)

Provisions for liabilities
  

Deferred tax
  
(50,594)
(41,667)

  
 
 
(50,594)
 
 
(41,667)

Net assets
  
288,018
220,026


Capital and reserves
  

Called up share capital 
  
229
250

Capital redemption reserve
  
126
105

Profit and loss account
  
287,663
219,671

  
288,018
220,026

Page 1

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
REGISTERED NUMBER: 06473527
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C D Petty
Director

Date: 1 November 2023

The notes on pages 5 to 11 form part of these financial statements.
Page 2

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
250
105
219,671
220,026


Comprehensive income for the year

Profit for the year

-
-
238,633
238,633


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
238,633
238,633


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(120,641)
(120,641)

Purchase of own shares
-
21
(50,000)
(49,979)

Shares issued during the year
(21)
-
-
(21)


Total transactions with owners
(21)
21
(170,641)
(170,641)


At 31 March 2023
229
126
287,663
288,018


The notes on pages 5 to 11 form part of these financial statements.
Page 3

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2021
250
-
139,357
139,607


Comprehensive income for the year

Profit for the year

-
-
294,198
294,198


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
294,198
294,198


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(213,884)
(213,884)

Purchase of own shares
-
105
-
105


Total transactions with owners
-
105
(213,884)
(213,779)


At 31 March 2022
250
105
219,671
220,026


The notes on pages 5 to 11 form part of these financial statements.
Page 4

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is a private company, limited by shares, incorporated in England and Wales and its
registered office is Cornerstone House, 31 Falcon Court, Preston Farm Industrial Estate, Stockton on Tees, United Kingdom, TS18 3TS. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

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

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Pensions

The company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 5

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
Office equipment
-
15%
reducing balance
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Stocks

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

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 21).

Page 7

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
302,795
-
18,874
36,678
358,347


Additions
-
13,339
308
13,459
27,106


Disposals
(78,395)
-
(4,399)
(8,503)
(91,297)



At 31 March 2023

224,400
13,339
14,783
41,634
294,156



Depreciation


At 1 April 2022
51,750
-
7,874
24,597
84,221


Charge for the year on owned assets
-
236
1,415
4,840
6,491


Charge for the year on financed assets
42,075
-
-
-
42,075


Disposals
(31,031)
-
(2,830)
(7,006)
(40,867)



At 31 March 2023

62,794
236
6,459
22,431
91,920



Net book value



At 31 March 2023
161,606
13,103
8,324
19,203
202,236



At 31 March 2022
251,045
-
11,000
12,081
274,126

Page 8

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

           4.Tangible fixed assets (continued)

Finance leases

Included in fixed assets above is £161,604 worth of assets held under finance leases.


5.


Debtors

2023
2022
£
£


Trade debtors
443,538
392,676

Other debtors
2,103
2,943

Prepayments and accrued income
80,175
97,700

525,816
493,319



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
486,345
612,050

Less: bank overdrafts
-
(49)

486,345
612,001


Page 9

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
49

Trade creditors
151,523
227,678

Corporation tax
68,347
56,194

Other taxation and social security
99,886
98,409

Obligations under finance lease and hire purchase contracts
31,272
42,119

Other creditors
245,307
281,715

Accruals and deferred income
149,028
206,195

745,363
912,359


The following liabilities were secured:

2023
2022
£
£



Obligations under finance lease
169,922
255,062

169,922
255,062

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured upon the assets to which they relate. 


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
138,651
212,943

138,651
212,943


Page 10

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
31,271
42,119

Between 1-5 years
138,651
212,943

169,922
255,062


10.


Related party transactions

At the balance sheet date, the company owes £81,258 (2022: £84,545) to the directors of the company.

 
Page 11