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REGISTERED NUMBER: 11472611 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Cornerstone 2 Homes Ltd

Cornerstone 2 Homes Ltd (Registered number: 11472611)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cornerstone 2 Homes Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D H Ward
M N Carr
Mrs R Ward
Mrs E Carr





REGISTERED OFFICE: Carlton House
High Street
Higham Ferrers
Northamptonshire
NN10 8BW





REGISTERED NUMBER: 11472611 (England and Wales)





ACCOUNTANTS: Willsons
Chartered Accountants
Carlton House
High Street
Higham Ferrers
Northamptonshire
NN10 8BW

Cornerstone 2 Homes Ltd (Registered number: 11472611)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Stocks 1,707,000 1,506,500
Debtors 4 2,563 29,710
Cash at bank 190,526 32,197
1,900,089 1,568,407
CREDITORS
Amounts falling due within one year 5 1,736,964 1,329,193
NET CURRENT ASSETS 163,125 239,214
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,125

239,214

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 163,121 239,210
163,125 239,214

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

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

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 23 September 2024 and were signed on its behalf by:





M N Carr - Director


Cornerstone 2 Homes Ltd (Registered number: 11472611)

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

1. STATUTORY INFORMATION

Cornerstone 2 Homes 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 represents the total invoice value, excluding value added tax, of sales made during the period. When the outcome of work can be estimated reliably, turnover from the work done is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to percentage of job completed. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

Cornerstone 2 Homes Ltd (Registered number: 11472611)

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 16,000
Other debtors 4 4
VAT 678 11,825
Prepayments 1,881 1,881
2,563 29,710

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 16,580 127,801
Corporation Tax 917 664
Social security and other taxes 1,133 -
Other creditors 839,000 600,000
Directors' current accounts 878,384 599,778
Accrued expenses 950 950
1,736,964 1,329,193

6. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £839,000 (2023 £600,000) to companies controlled by M N Carr and D H Ward. No interest was charged on these loans.