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REGISTERED NUMBER: 00381177 (England and Wales)















Cornelius & Davies Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023






Cornelius & Davies Limited (Registered number: 00381177)

Contents of the Financial Statements
for the year ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cornelius & Davies Limited

Company Information
for the year ended 30 November 2023







Directors: R A Cornelius
V E Cornelius





Secretary: R A Cornelius





Registered office: 63-66 Hatton Garden
London
EC1N 8LE





Registered number: 00381177 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Cornelius & Davies Limited (Registered number: 00381177)

Balance Sheet
30 November 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investment property 4 1,066,034 -

Current assets
Stocks 527,589 524,216
Debtors 5 35,904 141,356
Cash at bank and in hand 70,643 125,868
634,136 791,440
Creditors
Amounts falling due within one year 6 989,730 137,952
Net current (liabilities)/assets (355,594 ) 653,488
Total assets less current liabilities 710,440 653,488

Capital and reserves
Called up share capital 7 14,000 14,000
Retained earnings 8 696,440 639,488
Shareholders' funds 710,440 653,488

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by:





R A Cornelius - Director


Cornelius & Davies Limited (Registered number: 00381177)

Notes to the Financial Statements
for the year ended 30 November 2023


1. Statutory information

Cornelius & Davies 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.

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.

Investment property
Investment properties are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

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

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.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

3. Employees and directors

The average number of employees during the year was 7 (2022 - 7 ) .

4. Investment property
Total
£
Fair value
Additions 1,081,171
At 30 November 2023 1,081,171
Depreciation
Charge for year 15,137
At 30 November 2023 15,137
Net book value
At 30 November 2023 1,066,034

Cornelius & Davies Limited (Registered number: 00381177)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 35,904 133,290
Other debtors - 8,066
35,904 141,356

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 5,759 83,988
Taxation and social security 85,008 42,368
Other creditors 898,963 11,596
989,730 137,952

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
14,000 Ordinary £1.00 14,000 14,000

8. Reserves
Retained
earnings
£

At 1 December 2022 639,488
Profit for the year 116,952
Dividends (60,000 )
At 30 November 2023 696,440

9. Related party disclosures

During the period the Directors loaned the company £943,160 to acquire the freehold property. This loan is unsecured, interest free and repayable on demand. At 30 November 2023 £886,660 was due to the directors.