IRIS Accounts Production v23.3.0.418 09131810 director 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh091318102022-07-31091318102023-07-31091318102022-08-012023-07-31091318102021-07-31091318102021-08-012022-07-31091318102022-07-3109131810ns10:Originalns15:EnglandWales2022-08-012023-07-3109131810ns14:PoundSterlingns10:Original2022-08-012023-07-3109131810ns10:Originalns10:Director12022-08-012023-07-3109131810ns10:Original2022-08-012023-07-3109131810ns10:Original2023-07-3109131810ns10:Originalns10:PrivateLimitedCompanyLtd2022-08-012023-07-3109131810ns10:Originalns10:SmallEntities2022-08-012023-07-3109131810ns10:Originalns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3109131810ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3109131810ns10:SmallCompaniesRegimeForAccountsns10:Original2022-08-012023-07-3109131810ns10:Originalns10:FullAccounts2022-08-012023-07-3109131810ns10:Originalns10:RegisteredOffice2022-08-012023-07-3109131810ns10:Original2022-07-3109131810ns10:Originalns5:CurrentFinancialInstruments2023-07-3109131810ns10:Originalns5:CurrentFinancialInstruments2022-07-3109131810ns10:Originalns5:Non-currentFinancialInstruments2023-07-3109131810ns10:Originalns5:Non-currentFinancialInstruments2022-07-3109131810ns5:ShareCapitalns10:Original2023-07-3109131810ns5:ShareCapitalns10:Original2022-07-3109131810ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-07-3109131810ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3109131810ns10:Originalns5:LeaseholdImprovements2022-08-012023-07-3109131810ns10:Originalns5:FurnitureFittings2022-08-012023-07-3109131810ns10:Originalns5:MotorVehicles2022-08-012023-07-3109131810ns10:Originalns5:ComputerEquipment2022-08-012023-07-3109131810ns10:Original2021-08-012022-07-3109131810ns10:Originalns5:LeaseholdImprovements2022-07-3109131810ns10:Originalns5:FurnitureFittings2022-07-3109131810ns10:Originalns5:MotorVehicles2022-07-3109131810ns10:Originalns5:ComputerEquipment2022-07-3109131810ns10:Original2022-07-3109131810ns10:Originalns5:LeaseholdImprovements2023-07-3109131810ns10:Originalns5:FurnitureFittings2023-07-3109131810ns10:Originalns5:MotorVehicles2023-07-3109131810ns10:Originalns5:ComputerEquipment2023-07-3109131810ns10:Originalns5:LeaseholdImprovements2022-07-3109131810ns10:Originalns5:FurnitureFittings2022-07-3109131810ns10:Originalns5:MotorVehicles2022-07-3109131810ns10:Originalns5:ComputerEquipment2022-07-3109131810ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3109131810ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3109131810ns10:Originalns5:WithinOneYear2023-07-3109131810ns10:Originalns5:WithinOneYear2022-07-3109131810ns5:Securedns10:Original2023-07-3109131810ns5:Securedns10:Original2022-07-3109131810ns10:Original1ns10:Director12022-07-3109131810ns10:Original1ns10:Director12021-07-3109131810ns10:Original1ns10:Director12022-08-012023-07-3109131810ns10:Original1ns10:Director12021-08-012022-07-3109131810ns10:Original1ns10:Director12023-07-3109131810ns10:Original1ns10:Director12022-07-31
REGISTERED NUMBER: 09131810 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Cornerways Care Ltd

Cornerways Care Ltd (Registered number: 09131810)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cornerways Care Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Ms B K Haer





REGISTERED OFFICE: 7 Paynes Park
Hitchin
SG5 1EH





REGISTERED NUMBER: 09131810 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Cornerways Care Ltd (Registered number: 09131810)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 139,356 35,889

CURRENT ASSETS
Debtors 5 566,008 358,792
Prepayments and accrued income - 100
Cash at bank and in hand 63,243 312,096
629,251 670,988
CREDITORS
Amounts falling due within one year 6 335,246 303,691
NET CURRENT ASSETS 294,005 367,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

433,361

403,186

CREDITORS
Amounts falling due after more than one
year

7

(294,691

)

(401,346

)

PROVISIONS FOR LIABILITIES (10,220 ) (2,643 )
NET ASSETS/(LIABILITIES) 128,450 (803 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 128,350 (903 )
128,450 (803 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Cornerways Care Ltd (Registered number: 09131810)

Balance Sheet - continued
31 July 2023


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 14 February 2024 and were signed by:





Ms B K Haer - Director


Cornerways Care Ltd (Registered number: 09131810)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Cornerways Care 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Turnover is derived from services provided for the the care and support of children and young adults.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Government grants
Grants are accounted for under the accruals model.
Grants of a revenue nature are recognised in 'other income' within profit and loss in the same period as the related expenditure

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.

Cornerways Care Ltd (Registered number: 09131810)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 41 (2022 - 39 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 8,000 25,562 15,777 18,764 68,103
Additions 52,993 17,922 41,724 15,583 128,222
Disposals (3,500 ) - - - (3,500 )
At 31 July 2023 57,493 43,484 57,501 34,347 192,825
DEPRECIATION
At 1 August 2022 1,879 19,148 1,643 9,544 32,214
Charge for year 4,603 5,154 8,099 5,266 23,122
Eliminated on disposal (1,867 ) - - - (1,867 )
At 31 July 2023 4,615 24,302 9,742 14,810 53,469
NET BOOK VALUE
At 31 July 2023 52,878 19,182 47,759 19,537 139,356
At 31 July 2022 6,121 6,414 14,134 9,220 35,889

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 264,706 193,892
Amounts owed by participating interests 133,591 -
Other debtors 167,711 164,900
566,008 358,792

Cornerways Care Ltd (Registered number: 09131810)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 33,051 37,345
Trade creditors 16,467 20,522
Taxation and social security 71,967 29,037
Other creditors 213,761 216,787
335,246 303,691

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 294,691 401,346

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.23 31.7.22
£    £   
Within one year 3,732 4,575

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 327,742 438,691

The bank overdraft and bank loans are secured by a Fixed and Floating charge over the assets of the company.

The director, B Haer, has given a personal guarantee on the bank loan.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Ms B K Haer
Balance outstanding at start of year (49,072 ) 191,208
Amounts advanced 167,234 116,964
Amounts repaid (133,185 ) (357,244 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (15,023 ) (49,072 )

Cornerways Care Ltd (Registered number: 09131810)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

11. RELATED PARTY DISCLOSURES

Included in Other Debtors are amounts owed by Cornerways Properties Ltd. Mr P Haer a former Director of Cornerways Care Ltd, is a director and shareholder of Cornerways Properties Ltd.

31.7.2023 31.7.2022
£ £
Cornerways Properties Ltd 41,948 41,948


Also included in Other Debtors are amounts owed by Mr P Haer totalling £24,753 (2022: £23,948)


At the balance sheet date, the following amounts are due from a company under common control:

31.7.2023 31.7.2022
£ £
2BH Ltd 133,591 -

The loans are repayable on demand.