Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01falseNo description of principal activity2322truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06473527 2023-04-01 2024-03-31 06473527 2022-04-01 2023-03-31 06473527 2024-03-31 06473527 2023-03-31 06473527 2022-04-01 06473527 c:Director1 2023-04-01 2024-03-31 06473527 d:PlantMachinery 2023-04-01 2024-03-31 06473527 d:PlantMachinery 2024-03-31 06473527 d:PlantMachinery 2023-03-31 06473527 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06473527 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06473527 d:MotorVehicles 2023-04-01 2024-03-31 06473527 d:MotorVehicles 2024-03-31 06473527 d:MotorVehicles 2023-03-31 06473527 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06473527 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06473527 d:FurnitureFittings 2023-04-01 2024-03-31 06473527 d:FurnitureFittings 2024-03-31 06473527 d:FurnitureFittings 2023-03-31 06473527 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06473527 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06473527 d:OfficeEquipment 2023-04-01 2024-03-31 06473527 d:OfficeEquipment 2024-03-31 06473527 d:OfficeEquipment 2023-03-31 06473527 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06473527 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06473527 d:ComputerEquipment 2023-04-01 2024-03-31 06473527 d:ComputerEquipment 2024-03-31 06473527 d:ComputerEquipment 2023-03-31 06473527 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06473527 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06473527 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06473527 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06473527 d:CurrentFinancialInstruments 2024-03-31 06473527 d:CurrentFinancialInstruments 2023-03-31 06473527 d:Non-currentFinancialInstruments 2024-03-31 06473527 d:Non-currentFinancialInstruments 2023-03-31 06473527 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06473527 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06473527 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06473527 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06473527 d:ShareCapital 2024-03-31 06473527 d:ShareCapital 2022-04-01 2023-03-31 06473527 d:ShareCapital 2023-03-31 06473527 d:ShareCapital 2022-04-01 06473527 d:CapitalRedemptionReserve 2024-03-31 06473527 d:CapitalRedemptionReserve 2022-04-01 2023-03-31 06473527 d:CapitalRedemptionReserve 2023-03-31 06473527 d:CapitalRedemptionReserve 2022-04-01 06473527 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 06473527 d:RetainedEarningsAccumulatedLosses 2024-03-31 06473527 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 06473527 d:RetainedEarningsAccumulatedLosses 2023-03-31 06473527 d:RetainedEarningsAccumulatedLosses 2022-04-01 06473527 c:FRS102 2023-04-01 2024-03-31 06473527 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06473527 c:FullAccounts 2023-04-01 2024-03-31 06473527 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06473527 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 06473527 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 06473527 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 06473527 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 06473527 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06473527










CORNERSTONE BUSINESS SOLUTIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
REGISTERED NUMBER: 06473527

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
310,690
202,236

  
310,690
202,236

Current assets
  

Stocks
  
8,629
8,229

Debtors: amounts falling due within one year
 5 
544,605
525,816

Cash at bank and in hand
 6 
608,793
486,345

  
1,162,027
1,020,390

Creditors: amounts falling due within one year
 7 
(795,924)
(745,363)

Net current assets
  
 
 
366,103
 
 
275,027

Total assets less current liabilities
  
676,793
477,263

Creditors: amounts falling due after more than one year
 8 
(159,083)
(138,651)

Provisions for liabilities
  

Deferred tax
  
(75,532)
(50,594)

  
 
 
(75,532)
 
 
(50,594)

Net assets
  
442,178
288,018


Capital and reserves
  

Called up share capital 
  
229
229

Capital redemption reserve
  
126
126

Profit and loss account
  
441,823
287,663

  
442,178
288,018

Page 1

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
REGISTERED NUMBER: 06473527
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C D Petty
Director

Date: 27 November 2024

The notes on pages 5 to 12 form part of these financial statements.
Page 2

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
229
126
287,663
288,018


Comprehensive income for the year

Profit for the year
-
-
191,112
191,112


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(36,952)
(36,952)


At 31 March 2024
229
126
441,823
442,178


The notes on pages 5 to 12 form part of these financial statements.
Page 3

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
250
105
169,671
170,026


Comprehensive income for the year

Profit for the year
-
-
238,633
238,633

Dividends: Equity capital
-
-
(120,641)
(120,641)

Purchase of own shares
-
21
-
21

Shares issued during the year
(21)
-
-
(21)


At 31 March 2023
229
126
287,663
288,018


The notes on pages 5 to 12 form part of these financial statements.
Page 4

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private company, limited by shares, incorporated in England and Wales and its
registered office is Cornerstone House, 31 Falcon Court, Preston Farm Industrial Estate, Stockton on Tees, United Kingdom, TS18 3TS. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

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

 
2.3

Pensions

The company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 5

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
4%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Office equipment
-
15%
reducing balance
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Stocks

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

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.


3.


Employees

The average monthly number of employees, including directors, during the year was 23 (2023 - 22).

Page 7
 


 
CORNERSTONE BUSINESS SOLUTIONS LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


4.


Tangible fixed assets






Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment

£
£
£
£
£



Cost or valuation


At 1 April 2023
-
224,400
13,339
14,783
41,634


Additions
94,058
75,831
1,095
356
5,453


Disposals
-
(32,627)
-
-
-



At 31 March 2024

94,058
267,604
14,434
15,139
47,087



Depreciation


At 1 April 2023
-
62,794
236
6,459
22,431


Charge for the year on owned assets
-
-
2,088
1,203
7,680


Charge for the year on financed assets
-
35,957
-
-
-


Disposals
-
(11,216)
-
-
-



At 31 March 2024

-
87,535
2,324
7,662
30,111



Net book value



At 31 March 2024
94,058
180,069
12,110
7,477
16,976
Page 8
 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)




At 31 March 2023
-
161,606
13,103
8,324
19,203

Total

£



Cost or valuation


At 1 April 2023
294,156


Additions
176,793


Disposals
(32,627)



At 31 March 2024

438,322



Depreciation


At 1 April 2023
91,920


Charge for the year on owned assets
10,971


Charge for the year on financed assets
35,957


Disposals
(11,216)



At 31 March 2024

127,632



Net book value



At 31 March 2024
310,690



At 31 March 2023
202,236

Page 9

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)

Finance leases

Included in fixed assets above is £180,069 worth of assets held under finance leases.


5.


Debtors

2024
2023
£
£


Trade debtors
443,399
443,538

Other debtors
24,827
2,103

Prepayments and accrued income
76,379
80,175

544,605
525,816



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
608,793
486,345

608,793
486,345


Page 10

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
287,046
151,523

Corporation tax
55,192
68,347

Other taxation and social security
111,511
99,886

Obligations under finance lease and hire purchase contracts
36,884
31,272

Other creditors
117,110
245,307

Accruals and deferred income
188,181
149,028

795,924
745,363


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease
120,135
169,922

120,135
169,922

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured upon the assets to which they relate. 


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
159,083
138,651

159,083
138,651


Page 11

 
CORNERSTONE BUSINESS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
26,847
31,271

Between 1-5 years
93,288
138,651

120,135
169,922


10.


Related party transactions

At the balance sheet date, the company owes £40,304 (2023: £81,258) to the directors of the company.

 
Page 12