Registered number
08700553
Cornerstone Investigations Limited
Unaudited Filleted Financial Statements
For the Year Ended
30 September 2024
Cornerstone Investigations Limited
Registered number: 08700553
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 837 1,478
838 1,479
Current assets
Debtors 5 11,188 4,612
Cash at bank and in hand 7,759 9,621
18,947 14,233
Creditors: amounts falling due within one year 6 (17,564) (13,412)
Net current assets 1,383 821
Total assets less current liabilities 2,221 2,300
Provisions for liabilities (150) (300)
Net assets 2,071 2,000
Capital and reserves
Called up share capital 200 200
Profit and loss account 1,871 1,800
Shareholders' funds 2,071 2,000
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D.A. Davis
Director
Approved by the board on 25 January 2025
Cornerstone Investigations Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The directors believe the company is experiencing healthy levels of sales and profitability and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and Equipment 3 years straight line basis
Work in progress
Work in progress is reflected in the accounts on a conract by contract basis by recording turnover and related costs as contract activity progresses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Taxation (continued)
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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to employee's defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company (including directors) during the year 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 180
At 30 September 2024 180
Amortisation
At 1 October 2023 179
At 30 September 2024 179
Net book value
At 30 September 2024 1
At 30 September 2023 1
4 Tangible fixed assets
Plant and Equipment
£
Cost
At 1 October 2023 6,977
Additions 224
At 30 September 2024 7,201
Depreciation
At 1 October 2023 5,499
Charge for the year 865
At 30 September 2024 6,364
Net book value
At 30 September 2024 837
At 30 September 2023 1,478
5 Debtors 2024 2023
£ £
Trade debtors 4,392 4,314
Amounts recoverable on contracts 6,432 -
Prepayments 364 298
11,188 4,612
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 238
Other creditors 2,186 1,649
Taxation and social security costs 13,306 9,459
Accruals 2,072 2,066
17,564 13,412
7 Other information
Cornerstone Investigations Limited is a private company limited by shares and incorporated in England. Its registered office is: Heritage House Ground Floor, 39 Cliffe Lane, Holmfirth, West Yorkshire, HD9 1XE.
HD9 1XE
The financial statements are presented in Sterling, which is the functional currency of the company.
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