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REGISTERED NUMBER: 06229910



Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 April 2024

for

Cornerstone Consults (UK) Ltd

Cornerstone Consults (UK) Ltd (Registered number: 06229910)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


Cornerstone Consults (UK) Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr Olumoye, Adeyemi Adebayo
Mrs Modupe Adebayo





REGISTERED OFFICE: 2 Collier Row Lane
Romford
Essex
RM5 3BP





REGISTERED NUMBER: 06229910





ACCOUNTANTS: Krypton Consulting Ltd
Chartered Certified Accountants & Tax Advisers
Unit 6
Town Quay Wharf
Barking
Essex
IG11 7BZ

Cornerstone Consults (UK) Ltd (Registered number: 06229910)

Report of the Directors
for the Year Ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of tutoring services to students within the age range of 11 - 18 years old. Cornerstone was incorporated on 27 April 2007, with the aim of offering tuition to supplement students' education.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 May 2023 to the date of this report.

The beneficial interests of the directors holding office at 30 April 2024 in the shares of the company, according to the register of directors' interests, were as follows:

30.4.24 1.5.23
Ordinary shares of £1 each
Mr Olumoye, Adeyemi Adebayo 510 510
Mrs Modupe Adebayo 490 490

These directors did not hold any non-beneficial interests in the shares of the company.

POLITICAL DONATIONS AND EXPENDITURE
During the year, donations of a charitable nature were made to the following organizations
1) Watoto Childcare
2) Virgin Money
3) Hillsong Ministries

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr Olumoye, Adeyemi Adebayo - Director


5 October 2024

Cornerstone Consults (UK) Ltd (Registered number: 06229910)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,104 2,854

CURRENT ASSETS
Cash at bank 3,052 4,761

CREDITORS
Amounts falling due within one year 5 16,736 14,935
NET CURRENT LIABILITIES (13,684 ) (10,174 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(11,580

)

(7,320

)

CREDITORS
Amounts falling due after more than one year 6 146 146
NET LIABILITIES (11,726 ) (7,466 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 7 (12,726 ) (8,466 )
SHAREHOLDERS' FUNDS (11,726 ) (7,466 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Consults (UK) Ltd (Registered number: 06229910)

Balance Sheet - continued
30 April 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 October 2024 and were signed on its behalf by:





Mr Olumoye, Adeyemi Adebayo - Director


Cornerstone Consults (UK) Ltd (Registered number: 06229910)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Cornerstone Consults (UK) Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

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 2 (2023 - 1 ) .

Cornerstone Consults (UK) Ltd (Registered number: 06229910)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 12,442
Additions 789
At 30 April 2024 13,231
DEPRECIATION
At 1 May 2023 9,588
Charge for year 1,539
At 30 April 2024 11,127
NET BOOK VALUE
At 30 April 2024 2,104
At 30 April 2023 2,854

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 916 850
Directors' Loan 16,157 14,915
Social security and other taxes (337 ) (830 )
16,736 14,935

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans - 2-5 years 146 146

7. RESERVES
Retained
earnings
£   

At 1 May 2023 (8,466 )
Deficit for the year (2,760 )
Dividends (1,500 )
At 30 April 2024 (12,726 )