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REGISTERED NUMBER: 08829772 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Cornerstone Labs Ltd

Cornerstone Labs Ltd (Registered number: 08829772)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cornerstone Labs Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs K A E F Auckland
A M Auckland





REGISTERED OFFICE: 21 Church Road
Parkstone
Poole
Dorset
BH14 8UF





REGISTERED NUMBER: 08829772 (England and Wales)





ACCOUNTANT: Richard Allen & Associates
21 Church Road
Parkstone
Poole
Dorset
BH14 8UF

Cornerstone Labs Ltd (Registered number: 08829772)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,307 7,468

CURRENT ASSETS
Debtors 5 46,905 9,511
Cash at bank and in hand 44,475 104,870
91,380 114,381
CREDITORS
Amounts falling due within one year 6 44,072 63,742
NET CURRENT ASSETS 47,308 50,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,615

58,107

PROVISIONS FOR LIABILITIES 700 540
NET ASSETS 54,915 57,567

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 54,815 57,467
SHAREHOLDERS' FUNDS 54,915 57,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Cornerstone Labs Ltd (Registered number: 08829772)

Balance Sheet - continued
31 January 2024


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 September 2024 and were signed on its behalf by:





Mrs K A E F Auckland - Director


Cornerstone Labs Ltd (Registered number: 08829772)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Cornerstone Labs Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 15% on reducing balance and Not provided

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Cornerstone Labs Ltd (Registered number: 08829772)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 21,593
Additions 3,023
At 31 January 2024 24,616
DEPRECIATION
At 1 February 2023 14,125
Charge for year 2,184
At 31 January 2024 16,309
NET BOOK VALUE
At 31 January 2024 8,307
At 31 January 2023 7,468

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 7,050
Other debtors 46,905 2,461
46,905 9,511

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 17,897 24,747
Taxation and social security 24,475 37,770
Other creditors 1,700 1,225
44,072 63,742

Cornerstone Labs Ltd (Registered number: 08829772)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
A M Auckland
Balance outstanding at start of year 1,636 2,919
Amounts advanced 131,278 100,341
Amounts repaid (87,105 ) (101,624 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 45,809 1,636