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REGISTERED NUMBER: 05007474 (England and Wales)









CORNERSTONE HOMES (SW) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






CORNERSTONE HOMES (SW) LIMITED (REGISTERED NUMBER: 05007474)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CORNERSTONE HOMES (SW) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: N D Hiscocks





SECRETARY: N D Hiscocks





REGISTERED OFFICE: 7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX





REGISTERED NUMBER: 05007474 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

CORNERSTONE HOMES (SW) LIMITED (REGISTERED NUMBER: 05007474)

ABRIDGED BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,471 1,819
Investments 6 100 100
1,571 1,919

CURRENT ASSETS
Stocks 83,047 43,047
Debtors 259,507 495,659
Cash at bank 87,630 165,333
430,184 704,039
CREDITORS
Amounts falling due within one year 153,281 412,792
NET CURRENT ASSETS 276,903 291,247
TOTAL ASSETS LESS CURRENT LIABILITIES 278,474 293,166

CREDITORS
Amounts falling due after more than one year 17,811 27,935
NET ASSETS 260,663 265,231

CAPITAL AND RESERVES
Called up share capital 32,468 32,468
Retained earnings 228,195 232,763
SHAREHOLDERS' FUNDS 260,663 265,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

CORNERSTONE HOMES (SW) LIMITED (REGISTERED NUMBER: 05007474)

ABRIDGED BALANCE SHEET - continued
30 JUNE 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 11 March 2024 and were signed by:





N D Hiscocks - Director


CORNERSTONE HOMES (SW) LIMITED (REGISTERED NUMBER: 05007474)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Cornerstone Homes (SW) Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied, to all the years presented, unless otherwise stated.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is recognised at the point of completion of projects.

Tangible 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.
Computer equipment - 25% on cost

Tangible fixed assets are stated at costs less accumulated depreciation and accumulated impairment losses.

Impairment of Assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss if recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the assets in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised costs using the effective interest method.

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


CORNERSTONE HOMES (SW) LIMITED (REGISTERED NUMBER: 05007474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Investments
Investments in subsidiary and associated undertakings are shown at the lower of cost and net realisable value, less provision, where applicable, for any permanent diminution in value. The directors review the investments for impairment on an annual basis.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 2,426
Additions 344
At 30 June 2023 2,770
DEPRECIATION
At 1 July 2022 607
Charge for year 692
At 30 June 2023 1,299
NET BOOK VALUE
At 30 June 2023 1,471
At 30 June 2022 1,819

CORNERSTONE HOMES (SW) LIMITED (REGISTERED NUMBER: 05007474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 July 2022
and 30 June 2023 100
NET BOOK VALUE
At 30 June 2023 100
At 30 June 2022 100