CORNERSTONE INNS CIC

Company Registration Number:
10819689 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 1 July 2022

End date: 30 June 2023

CORNERSTONE INNS CIC

Contents of the Financial Statements

for the Period Ended 30 June 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

CORNERSTONE INNS CIC

Directors' report period ended 30 June 2023

The directors present their report with the financial statements of the company for the period ended 30 June 2023

Directors

The directors shown below have held office during the whole of the period from
1 July 2022 to 30 June 2023

Alastair Ainslie
John Dodds
Damon Horrill


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
13 February 2024

And signed on behalf of the board by:
Name: Damon Horrill
Status: Director

CORNERSTONE INNS CIC

Profit And Loss Account

for the Period Ended 30 June 2023

2023 2022


£

£
Turnover: 242,461 17,872
Cost of sales: ( 95,124 )
Gross profit(or loss): 147,337 17,872
Administrative expenses: ( 155,062 ) ( 17,044 )
Operating profit(or loss): (7,725) 828
Interest receivable and similar income: 6
Profit(or loss) before tax: (7,719) 828
Tax: ( 157 )
Profit(or loss) for the financial year: (7,719) 671

CORNERSTONE INNS CIC

Balance sheet

As at 30 June 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 5,111 0
Total fixed assets: 5,111 0
Current assets
Stocks: 4 6,703
Debtors: 5 4,644
Cash at bank and in hand: 5,928 7
Total current assets: 12,631 4,651
Creditors: amounts falling due within one year: 6 ( 20,785 ) ( 335 )
Net current assets (liabilities): (8,154) 4,316
Total assets less current liabilities: (3,043) 4,316
Creditors: amounts falling due after more than one year: 7 ( 3,279 ) ( 3,179 )
Accruals and deferred income: ( 725 ) ( 465 )
Total net assets (liabilities): (7,047) 672
Capital and reserves
Called up share capital: 1 1
Profit and loss account: (7,048 ) 671
Total Shareholders' funds: ( 7,047 ) 672

The notes form part of these financial statements

CORNERSTONE INNS CIC

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption 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.

This report was approved by the board of directors on 13 February 2024
and signed on behalf of the board by:

Name: Damon Horrill
Status: Director

The notes form part of these financial statements

CORNERSTONE INNS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

CORNERSTONE INNS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 14 0

CORNERSTONE INNS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2022 0 0
Additions 5,316 5,316
Disposals
Revaluations
Transfers
At 30 June 2023 5,316 5,316
Depreciation
At 1 July 2022 0 0
Charge for year 205 205
On disposals
Other adjustments
At 30 June 2023 205 205
Net book value
At 30 June 2023 5,111 5,111
At 30 June 2022 0 0

CORNERSTONE INNS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Stocks

2023 2022
£ £
Stocks 6,703
Total 6,703

CORNERSTONE INNS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Debtors

2023 2022
£ £
Other debtors 4,644
Total   4,644

CORNERSTONE INNS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 12,601 178
Taxation and social security 4,187 157
Other creditors 3,997
Total 20,785 335

CORNERSTONE INNS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

7. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Other creditors 3,279 3,179
Total 3,279 3,179

COMMUNITY INTEREST ANNUAL REPORT

CORNERSTONE INNS CIC

Company Number: 10819689 (England and Wales)

Year Ending: 30 June 2023

Company activities and impact

Cornerstone Inns CIC operated a community pub and developes and supported community initiaitives and building generally.During the year Cornerstone Inn CIC provided pro bono professional and financial support to a charity community benefit society. The Hive Live Ltd which operates a local community venue with bar services.During the year Cornerstone held monthly meetings with the local community to facilitate the involvement of locals in the decisions made regarding the Gate Inn and its offering.Cornerstone launched a weekly coffee morning for socially isolated working with social prescribers offering tea, coffee and cake and a social meeting place attracting 20 plus guests every week. Cornerstone also launched a raost dinner for just £5 for 'Golden Agers' to further encourage social gatherings of disconnected residents.Cornerstone has hosted hundreds of valuable community events over the year including fundraisers and involvement with a summer community festival.May 2023 Cornerstone undertook a series of venue improvements to the Gate Inn, inside and out which has driven up turnover and improved facilities for customers.By helping to provide the community with quality environments to come together Cornerstone helps maintan the social infastructure locally.Cornerstone's purpose is to help establish co-op and community run facilities to the benefit of the local community which has been achieved this year

Consultation with stakeholders

The Company's stakeholders are the community and Cooperative businesses it supports along with the communities they serve.We have strong continuous feedback channels in place and necessary improvements or additions to services provided were identified and actioned immediately.This year Cornerstone held monthly community meetings at The Gate Inn, Community led strategy and development of the pubs offering is being founded at these meetings.The Gate Inn Society has been founded together with an ongoing fundraising initiative to provide the society with funds to deliver activity.

Directors' remuneration

Specialist community business/co-op development practitioner services were provided by a company director under sub contract, fees paid on invoice. The contracted work was outside the realm of the normal duties of a director and the director in question provides the same services to other clients.There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director's loss of office, which is required to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
1 March 2024

And signed on behalf of the board by:
Name: Damon Horrill
Status: Director