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REGISTERED NUMBER: 06798354 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Cornerstone Management Services Limited

Cornerstone Management Services Limited (Registered number: 06798354)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

Cornerstone Management Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: D W Bly





REGISTERED OFFICE: 24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ





REGISTERED NUMBER: 06798354 (England and Wales)





ACCOUNTANTS: Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Cornerstone Management Services Limited (Registered number: 06798354)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 61,075 -
Tangible assets 5 213,647 211,880
274,722 211,880

CURRENT ASSETS
Stocks 266,660 274,912
Debtors 6 653,338 671,370
Investments 7 10 10
Cash at bank and in hand 290,420 189,390
1,210,428 1,135,682
CREDITORS
Amounts falling due within one year 8 1,178,319 861,656
NET CURRENT ASSETS 32,109 274,026
TOTAL ASSETS LESS CURRENT
LIABILITIES

306,831

485,906

CREDITORS
Amounts falling due after more than one
year

9

(33,683

)

(60,611

)

PROVISIONS FOR LIABILITIES (31,779 ) (55,595 )
NET ASSETS 241,369 369,700

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 241,269 369,600
SHAREHOLDERS' FUNDS 241,369 369,700

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 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.

Cornerstone Management Services Limited (Registered number: 06798354)

Balance Sheet - continued
31 March 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 director and authorised for issue on 18 October 2024 and were signed by:





D W Bly - Director


Cornerstone Management Services Limited (Registered number: 06798354)

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

1. STATUTORY INFORMATION

Cornerstone Management Services Limited 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 (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Significant judgements and estimates
The preparation of financial statements requires the use of estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events or actions. Actual results may differ from those amounts.

Management do not consider there to be significant judgements or estimates used in the preparation of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Development costs, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Development costs are rercognised as an intangible asset as they relate to a resource controlled by the entity as a result of past events. The cost of the asset can be measured reliably and it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity

Development costs are amortised evenly over their useful life upon completion of the asset.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Cornerstone Management Services Limited (Registered number: 06798354)

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

2. ACCOUNTING POLICIES - continued
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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 61,075
At 31 March 2024 61,075
NET BOOK VALUE
At 31 March 2024 61,075

Cornerstone Management Services Limited (Registered number: 06798354)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 172,124 3,140 116,916 16,394 308,574
Additions 81,717 - 33,432 3,122 118,271
Disposals (3,307 ) (2,415 ) (75,777 ) (773 ) (82,272 )
At 31 March 2024 250,534 725 74,571 18,743 344,573
DEPRECIATION
At 1 April 2023 54,361 2,841 28,991 10,501 96,694
Charge for year 42,554 50 7,803 1,604 52,011
Eliminated on disposal (1,912 ) (2,313 ) (12,990 ) (564 ) (17,779 )
At 31 March 2024 95,003 578 23,804 11,541 130,926
NET BOOK VALUE
At 31 March 2024 155,531 147 50,767 7,202 213,647
At 31 March 2023 117,763 299 87,925 5,893 211,880

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 29,616 81,949 111,565
Additions - 31,431 31,431
Disposals - (51,959 ) (51,959 )
At 31 March 2024 29,616 61,421 91,037
DEPRECIATION
At 1 April 2023 9,872 20,487 30,359
Charge for year 9,872 6,933 16,805
Eliminated on disposal - (12,990 ) (12,990 )
At 31 March 2024 19,744 14,430 34,174
NET BOOK VALUE
At 31 March 2024 9,872 46,991 56,863
At 31 March 2023 19,744 61,462 81,206

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 649,633 668,012
Other debtors 3,705 3,358
653,338 671,370

Cornerstone Management Services Limited (Registered number: 06798354)

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

7. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Unlisted investments 10 10

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 22,178 26,361
Trade creditors 884,385 729,621
Amounts owed to group undertakings 81,090 5,840
Taxation and social security 185,416 93,609
Other creditors 5,250 6,225
1,178,319 861,656

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 33,683 60,611

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the director £4,292 (2023: the company owed the directors £4,292).

12. RELATED PARTY DISCLOSURES

At the year end, the company owed £5,190 to a part-owned subsidiary.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Cornerstone Management Services Limited

Report of the Accountants to the Director of
Cornerstone Management Services Limited

The following reproduces the text of the report prepared for the director 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 Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ


Date: .............................................