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Company Registration No. 10275250 (England and Wales)
CORNERSTONE CAPITAL LIMITED Unaudited accounts for the year ended 30 June 2023
CORNERSTONE CAPITAL LIMITED Unaudited accounts Contents
Page
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CORNERSTONE CAPITAL LIMITED Company Information for the year ended 30 June 2023
Directors
Mr Charles Simon Eric Romilly Mr Timothy Andrew Wilkinson
Company Number
10275250 (England and Wales)
Registered Office
11 Old Jewry 7th Floor (North) London EC2R 8DU
Accountants
Yulia Tarasenka 7 Hever Croft London SE9 3HA
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CORNERSTONE CAPITAL LIMITED Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
976 
1,877 
Investments
17 
17 
993 
1,894 
Current assets
Debtors
72,612 
66,213 
Cash at bank and in hand
305,287 
370,864 
377,899 
437,077 
Creditors: amounts falling due within one year
(11,483)
(11,771)
Net current assets
366,416 
425,306 
Net assets
367,409 
427,200 
Capital and reserves
Called up share capital
110 
100 
Profit and loss account
367,299 
427,100 
Shareholders' funds
367,409 
427,200 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by
Mr Timothy Andrew Wilkinson Director Company Registration No. 10275250
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CORNERSTONE CAPITAL LIMITED Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
CORNERSTONE CAPITAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10275250. The registered office is 11 Old Jewry, 7th Floor (North), London, EC2R 8DU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33%
Computer equipment
33%
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Unrelieved tax losses and other deferred tax assets are recognised only to the extend that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to expenditure are credited to profit and loss account when the expenditure is charged to profit and loss.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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CORNERSTONE CAPITAL LIMITED Notes to the Accounts for the year ended 30 June 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments
Investments in ordinary shares or preference shares of other entities, which are not subsidiaries, are measured at fair value, unless fair value cannot be measured reliably.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
441 
9,800 
10,241 
At 30 June 2023
441 
9,800 
10,241 
Depreciation
At 1 July 2022
441 
7,923 
8,364 
Charge for the year
- 
901 
901 
At 30 June 2023
441 
8,824 
9,265 
Net book value
At 30 June 2023
- 
976 
976 
At 30 June 2022
- 
1,877 
1,877 
5
Investments
Other investments 
£ 
Valuation at 1 July 2022
17 
Valuation at 30 June 2023
17 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
4,732 
6,000 
Deferred tax asset
17,466 
10,941 
Accrued income and prepayments
6,779 
13,280 
Other debtors
43,635 
35,992 
72,612 
66,213 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
251 
295 
Trade creditors
8,381 
2,040 
Other creditors
1,826 
2,239 
Loans from directors
- 
6,322 
Accruals
1,025 
875 
11,483 
11,771 
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CORNERSTONE CAPITAL LIMITED Notes to the Accounts for the year ended 30 June 2023
8
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
185 
356 
Tax losses carried forward
(17,651)
(11,297)
(17,466)
(10,941)
2023 
2022 
£ 
£ 
Provision at start of year
(10,941)
313 
Credited to the profit and loss account
(6,525)
(11,254)
Provision at end of year
(17,466)
(10,941)
Deferred tax assets (DTAs) have been provided at 19% on the unused tax losses carry-forwards. These DTAs can be used to offset taxable income in future periods and reduce our income taxes payable in those future periods. At this time, we consider it more likely than not that we will have sufficient taxable income in the future that will allow us to realise these DTAs. However, it is possible that some or all of these carry-forwards could ultimately expire unused.
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Directors' Loan Account
25,444 
5,582 
475 
30,551 
25,444 
5,582 
475 
30,551 
During the year the company made interest free advances to a Director repayable on demand. The amount has been included under Other debtors.
10
Transactions with related parties
As at 30 June 2023, a close member of the key management personnel, who is also a full time employee of the company, owed £9,928 (2022 - £9,928) to the company. The loan is interest free and repayable on demand. The amount has been included under Other debtors.
11
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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