REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 July 2023 |
for |
Corner Enterprises Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 July 2023 |
for |
Corner Enterprises Limited |
Corner Enterprises Limited (Registered number: 07252152) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Corner Enterprises Limited |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
& Statutory Auditors |
1 Beauchamp Court |
10 Victors Way |
Barnet |
Hertfordshire |
EN5 5TZ |
Corner Enterprises Limited (Registered number: 07252152) |
Statement of Financial Position |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Inventories | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( | ) | ( | ) |
NET CURRENT LIABILITIES | ( | ) | ( | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( | ) | ( | ) |
PROVISIONS FOR LIABILITIES | 9 | ( | ) | ( | ) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 | 1 | 1 |
Fair value reserve | 11 | 275,239 | 275,239 |
Retained earnings | 11 | 660,732 | 579,084 |
SHAREHOLDERS' FUNDS | 935,972 | 854,324 |
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. |
Corner Enterprises Limited (Registered number: 07252152) |
Statement of Financial Position - continued |
31 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Corner Enterprises Limited (Registered number: 07252152) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Corner Enterprises Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue 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 |
Stocks |
Inventories 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2022 |
Additions |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Corner Enterprises Limited (Registered number: 07252152) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | PROPERTY, PLANT AND EQUIPMENT - continued |
Cost or valuation at 31 July 2023 is represented by: |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
Valuation in 2017 | 1,647,205 | 10,000 | 1,657,205 |
Cost | - | 11,825 | 11,825 |
1,647,205 | 21,825 | 1,669,030 |
5. | INVENTORIES |
31.7.23 | 31.7.22 |
£ | £ |
Finished goods |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Trade creditors |
Tax |
Social security and other taxes |
Pension Liability | 270 | 102 |
VAT | 8,501 | 3,279 |
Wages Control | - | 1,575 |
Directors' current accounts | 420,715 | 309,749 |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans (see note 8) |
Accruals and deferred income |
8. | LOANS |
An analysis of the maturity of loans is given below: |
31.7.23 | 31.7.22 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Corner Enterprises Limited (Registered number: 07252152) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
8. | LOANS - continued |
31.7.23 | 31.7.22 |
£ | £ |
Amounts falling due between two and five years: |
Bank Loan 175K - 01049468 |
Bank Loan 60K - 01053368 | 19,443 | 25,666 |
Bank Loan 175K - 01037249 | 26,073 | 42,119 |
Bank Loan 300K - 01051683 | 165,789 | 183,784 |
9. | PROVISIONS FOR LIABILITIES |
31.7.23 | 31.7.22 |
£ | £ |
Deferred tax | 68,810 | 68,810 |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Balance at 31 July 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.23 | 31.7.22 |
value: | £ | £ |
Ordinary Share | £1 | 1 | 1 |
11. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 August 2022 |
Profit for the year |
Dividends | ( | ) | ( | ) |
At 31 July 2023 | 935,971 |