IRIS Accounts Production v24.3.2.46 02236371 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false Ordinary 2,000.00000 Ordinary "B" Non Voting 1.00000 Ordinary "C" Non voting 1.00000 Ordinary "D" Non voting 1.00000 Ordinary "E" Non voting 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh022363712023-06-30022363712024-06-30022363712023-07-012024-06-30022363712022-06-30022363712022-07-012023-06-30022363712023-06-3002236371ns15:EnglandWales2023-07-012024-06-3002236371ns14:PoundSterling2023-07-012024-06-3002236371ns10:Director12023-07-012024-06-3002236371ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3002236371ns10:SmallEntities2023-07-012024-06-3002236371ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3002236371ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3002236371ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3002236371ns10:FullAccounts2023-07-012024-06-3002236371ns10:OrdinaryShareClass12023-07-012024-06-3002236371ns10:OrdinaryShareClass22023-07-012024-06-3002236371ns10:OrdinaryShareClass32023-07-012024-06-3002236371ns10:OrdinaryShareClass42023-07-012024-06-3002236371ns10:OrdinaryShareClass52023-07-012024-06-3002236371ns10:Director52023-07-012024-06-3002236371ns10:Director62023-07-012024-06-3002236371ns10:RegisteredOffice2023-07-012024-06-3002236371ns5:CurrentFinancialInstruments2024-06-3002236371ns5:CurrentFinancialInstruments2023-06-3002236371ns5:ShareCapital2024-06-3002236371ns5:ShareCapital2023-06-3002236371ns5:RetainedEarningsAccumulatedLosses2024-06-3002236371ns5:RetainedEarningsAccumulatedLosses2023-06-3002236371ns5:LeaseholdImprovements2023-07-012024-06-3002236371ns5:PlantMachinery2023-07-012024-06-3002236371ns5:LeaseholdImprovements2023-06-3002236371ns5:PlantMachinery2023-06-3002236371ns5:LeaseholdImprovements2024-06-3002236371ns5:PlantMachinery2024-06-3002236371ns5:LeaseholdImprovements2023-06-3002236371ns5:PlantMachinery2023-06-3002236371ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3002236371ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3002236371ns10:OrdinaryShareClass12024-06-3002236371ns10:Director22023-07-012024-06-3002236371ns10:Director222023-06-3002236371ns10:Director222022-06-3002236371ns10:Director222023-07-012024-06-3002236371ns10:Director222022-07-012023-06-3002236371ns10:Director222024-06-3002236371ns10:Director222023-06-30
REGISTERED NUMBER: 02236371 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Cornells Building Supplies Limited

Cornells Building Supplies Limited (Registered number: 02236371)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cornells Building Supplies Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: G Mayes
R M Evans
R B Ling





REGISTERED OFFICE: Unit 6
Rougham Industrial Estate
Rougham
Bury St Edmunds
Suffolk
IP30 9ND





REGISTERED NUMBER: 02236371 (England and Wales)





ACCOUNTANTS: Sarah Place Accountants Ltd
Unit 4b
Boldero Road
Bury St Edmunds
Suffolk
IP32 7BS

Cornells Building Supplies Limited (Registered number: 02236371)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,677 51,202

CURRENT ASSETS
Stocks 286,885 307,309
Debtors 5 439,641 343,337
Cash at bank and in hand 33,930 90,793
760,456 741,439
CREDITORS
Amounts falling due within one year 6 255,460 270,817
NET CURRENT ASSETS 504,996 470,622
TOTAL ASSETS LESS CURRENT
LIABILITIES

540,673

521,824

PROVISIONS FOR LIABILITIES 6,045 8,840
NET ASSETS 534,628 512,984

CAPITAL AND RESERVES
Called up share capital 7 2,000 2,004
Retained earnings 532,628 510,980
SHAREHOLDERS' FUNDS 534,628 512,984

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Cornells Building Supplies Limited (Registered number: 02236371)

Balance Sheet - continued
30 June 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 10 January 2025 and were signed on its behalf by:





G Mayes - Director


Cornells Building Supplies Limited (Registered number: 02236371)

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

1. STATUTORY INFORMATION

Cornells Building Supplies 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.

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.
Improvements to property - 15% on cost
Plant and machinery - 15% 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.

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
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 3 (2023 - 4 ) .

Cornells Building Supplies Limited (Registered number: 02236371)

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

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 July 2023 22,884 144,183 167,067
Additions - 17,200 17,200
Disposals - (64,011 ) (64,011 )
At 30 June 2024 22,884 97,372 120,256
DEPRECIATION
At 1 July 2023 18,379 97,486 115,865
Charge for year 676 5,620 6,296
Eliminated on disposal - (37,582 ) (37,582 )
At 30 June 2024 19,055 65,524 84,579
NET BOOK VALUE
At 30 June 2024 3,829 31,848 35,677
At 30 June 2023 4,505 46,697 51,202

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 427,261 343,336
Other debtors 12,380 1
439,641 343,337

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 210,648 251,377
Taxation and social security 42,784 16,439
Other creditors 2,028 3,001
255,460 270,817

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2,000 Ordinary 2000 2,000 2,000
NIL Ordinary "B" Non Voting 1 - 1
(30.6.23 - 1 )
NIL Ordinary "C" Non voting 1 - 1
NIL Ordinary "D" Non voting 1 - 1
NIL Ordinary "E" Non voting 1 - 1
(30.6.23 - 1 )
2,000 2,004

Cornells Building Supplies Limited (Registered number: 02236371)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
J Cornell
Balance outstanding at start of year - (24,527 )
Amounts advanced - 24,527
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -