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REGISTERED NUMBER: 05117129 (England and Wales)















Cornerstone (East Anglia) Ltd

Unaudited Financial Statements

for the year ended

31 January 2024






Cornerstone (East Anglia) Ltd (Registered number: 05117129)

Contents of the Financial Statements
for the year ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6

Chartered Accountants' Report 7

Cornerstone (East Anglia) Ltd

Company Information
for the year ended 31 January 2024







DIRECTORS: T J W Eden
A L Mullin





SECRETARY: T J W Eden





REGISTERED OFFICE: Unit 2 - 4
Fuller Road
Harleston
Norfolk
IP20 9EA





REGISTERED NUMBER: 05117129 (England and Wales)





ACCOUNTANTS: Haines Watts
8 Hopper Way
Diss
Norfolk
IP22 4GT

Cornerstone (East Anglia) Ltd (Registered number: 05117129)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 217,641 195,889
Investments 6 280,000 280,000
497,641 475,889

CURRENT ASSETS
Stocks 463,258 609,714
Debtors 7 1,139,619 692,170
Cash at bank 1,064,392 1,753,181
2,667,269 3,055,065
CREDITORS
Amounts falling due within one year 8 (1,250,502 ) (1,236,739 )
NET CURRENT ASSETS 1,416,767 1,818,326
TOTAL ASSETS LESS CURRENT LIABILITIES 1,914,408 2,294,215

CREDITORS
Amounts falling due after more than one year 9 (34,609 ) (67,433 )

PROVISIONS FOR LIABILITIES (41,075 ) (34,786 )
NET ASSETS 1,838,724 2,191,996

CAPITAL AND RESERVES
Called up share capital 11 3,110 3,110
Retained earnings 1,835,614 2,188,886
SHAREHOLDERS' FUNDS 1,838,724 2,191,996

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.

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 22 October 2024 and were signed on its behalf by:





T J W Eden - Director


Cornerstone (East Anglia) Ltd (Registered number: 05117129)

Notes to the Financial Statements
for the year ended 31 January 2024


1. STATUTORY INFORMATION

Cornerstone (East Anglia) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Cornerstone (East Anglia) Ltd (Registered number: 05117129)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 31 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 10,309 17,006 251,873 22,944 302,132
Additions 7,189 - 72,530 - 79,719
At 31 January 2024 17,498 17,006 324,403 22,944 381,851
DEPRECIATION
At 1 February 2023 7,536 12,467 68,179 18,061 106,243
Charge for year 845 681 55,708 733 57,967
At 31 January 2024 8,381 13,148 123,887 18,794 164,210
NET BOOK VALUE
At 31 January 2024 9,117 3,858 200,516 4,150 217,641
At 31 January 2023 2,773 4,539 183,694 4,883 195,889

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023
and 31 January 2024 171,050
DEPRECIATION
At 1 February 2023 65,054
Charge for year 26,499
At 31 January 2024 91,553
NET BOOK VALUE
At 31 January 2024 79,497
At 31 January 2023 105,996

Cornerstone (East Anglia) Ltd (Registered number: 05117129)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 280,000
NET BOOK VALUE
At 31 January 2024 280,000
At 31 January 2023 280,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 687,457 287,509
Other debtors 452,162 404,661
1,139,619 692,170

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 21,614 25,635
Payments on account - 52,225
Trade creditors 856,382 542,368
Taxation and social security 239,173 593,883
Other creditors 123,333 12,628
1,250,502 1,236,739

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,333 23,333
Hire purchase contracts 21,276 44,100
34,609 67,433

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 42,890 69,735

Cornerstone (East Anglia) Ltd (Registered number: 05117129)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
10 B Ordinary £1 10 10
110 110

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
300,000 E Shares £0.10 3,000 3,000

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
T J W Eden
Balance outstanding at start of year 35,416 33,406
Amounts advanced 3,120 2,010
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,536 35,416

A L Mullin
Balance outstanding at start of year 84,439 81,568
Amounts advanced 3,020 2,871
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 87,459 84,439

The above loans are being charged interest at the official rate and have no set repayment terns.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Cornerstone (East Anglia) Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cornerstone (East Anglia) Ltd for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Cornerstone (East Anglia) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cornerstone (East Anglia) Ltd and state those matters that we have agreed to state to the Board of Directors of Cornerstone (East Anglia) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cornerstone (East Anglia) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cornerstone (East Anglia) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cornerstone (East Anglia) Ltd. You consider that Cornerstone (East Anglia) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cornerstone (East Anglia) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
8 Hopper Way
Diss
Norfolk
IP22 4GT


22 October 2024