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REGISTERED NUMBER: 09131810 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Cornerways Care Ltd

Cornerways Care Ltd (Registered number: 09131810)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cornerways Care Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Ms B K Haer





REGISTERED OFFICE: 7 Paynes Park
Hitchin
SG5 1EH





REGISTERED NUMBER: 09131810 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Cornerways Care Ltd (Registered number: 09131810)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 149,603 139,356

CURRENT ASSETS
Debtors 5 453,844 566,008
Cash at bank and in hand 219,919 63,243
673,763 629,251
CREDITORS
Amounts falling due within one year 6 353,916 335,246
NET CURRENT ASSETS 319,847 294,005
TOTAL ASSETS LESS CURRENT
LIABILITIES

469,450

433,361

CREDITORS
Amounts falling due after more than one
year

7

(279,421

)

(294,691

)

PROVISIONS FOR LIABILITIES (5,893 ) (10,220 )
NET ASSETS 184,136 128,450

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 184,036 128,350
184,136 128,450

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Cornerways Care Ltd (Registered number: 09131810)

Balance Sheet - continued
31 July 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 8 January 2025 and were signed by:





Ms B K Haer - Director


Cornerways Care Ltd (Registered number: 09131810)

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

1. STATUTORY INFORMATION

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

Turnover is derived from services provided for the the care and support of children and young adults.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

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.

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 40 (2023 - 41 ) .

Cornerways Care Ltd (Registered number: 09131810)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 57,493 43,484 57,501 34,347 192,825
Additions - 3,867 45,725 7,875 57,467
Disposals - - (14,250 ) - (14,250 )
At 31 July 2024 57,493 47,351 88,976 42,222 236,042
DEPRECIATION
At 1 August 2023 4,615 24,302 9,742 14,810 53,469
Charge for year 5,750 6,270 16,955 6,667 35,642
Eliminated on disposal - - (2,672 ) - (2,672 )
At 31 July 2024 10,365 30,572 24,025 21,477 86,439
NET BOOK VALUE
At 31 July 2024 47,128 16,779 64,951 20,745 149,603
At 31 July 2023 52,878 19,182 47,759 19,537 139,356

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 304,413 264,706
Amounts owed by participating interests 99,121 133,591
Other debtors 50,310 167,711
453,844 566,008

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 33,087 33,051
Trade creditors 6,318 16,467
Taxation and social security 75,993 71,967
Other creditors 238,518 213,761
353,916 335,246

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 279,421 294,691

Cornerways Care Ltd (Registered number: 09131810)

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

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.24 31.7.23
£    £   
Within one year - 3,732

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 312,508 327,742

The bank overdraft and bank loans are secured by a Fixed and Floating charge over the assets of the company.

The director, B Haer, has given a personal guarantee on the bank loan.

10. RELATED PARTY DISCLOSURES

During the year the amount owed by Cornerways Properties Ltd was written off. Mr P Haer is a director and shareholder of Cornerways Properties Ltd and was a former Director of Cornerways Care Ltd.

31.7.2024 31.7.2023
£ £
Cornerways Properties Ltd NIL 41,948


Included in Other Debtors are amounts owed by Mr P Haer totalling £24,753 (2023: £24,753) Mr P Haer is a former Director of Cornerways Care Ltd.


At the balance sheet date, the following amounts are due from a company under common control:

31.7.2024 31.7.2023
£ £
2BH Ltd 99,121 133,591

The loans are repayable on demand.