Cornes Properties Limited
Company Registration No. 13260096 (England And Wales)
Unaudited Financial Statements
Year Ended 31 March 2024
CORNES PROPERTIES LIMITED
Cornes Properties Limited
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,500
7,500
Current assets
Cash at bank and in hand
26
26
Creditors: amounts falling due within one year
4
(7,500)
(7,500)
Net current liabilities
(7,474)
(7,474)
Net assets
26
26
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
25
25
Total equity
26
26

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CORNES PROPERTIES LIMITED
Cornes Properties Limited
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 23 March 2025
Mr D Cornes
Director
Company registration number 13260096 (England and Wales)
CORNES PROPERTIES LIMITED
Cornes Properties Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Cornes Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Heath Drive, Tarvin, Chester, CH3 8EZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts have been prepared on a going concern basis as the company will be supported by its director for the forseeable future.

1.3
Turnover

The company has not traded during the year. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CORNES PROPERTIES LIMITED
Cornes Properties Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2023 and 31 March 2024
10,000
Depreciation and impairment
At 1 April 2023 and 31 March 2024
2,500
Carrying amount
At 31 March 2024
7,500
At 31 March 2023
7,500
CORNES PROPERTIES LIMITED
Cornes Properties Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
-
0
6,292
Other creditors
7,500
1,208
7,500
7,500
2024-03-312023-04-01true24 March 2025CCH SoftwareCCH Accounts Production 2024.100No description of principal activityD Cornesfalsefalse132600962023-04-012024-03-31132600962024-03-31132600962023-03-3113260096core:MotorVehicles2024-03-3113260096core:MotorVehicles2023-03-3113260096core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3113260096core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3113260096core:CurrentFinancialInstruments2024-03-3113260096core:CurrentFinancialInstruments2023-03-3113260096core:ShareCapital2024-03-3113260096core:ShareCapital2023-03-3113260096core:RetainedEarningsAccumulatedLosses2024-03-3113260096core:RetainedEarningsAccumulatedLosses2023-03-3113260096bus:Director12023-04-012024-03-3113260096core:MotorVehicles2023-04-012024-03-31132600962022-04-012023-03-3113260096core:MotorVehicles2023-03-3113260096bus:EntityNoLongerTradingButTradedInPast2023-04-012024-03-3113260096bus:PrivateLimitedCompanyLtd2023-04-012024-03-3113260096bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3113260096bus:FRS1022023-04-012024-03-3113260096bus:AuditExemptWithAccountantsReport2023-04-012024-03-3113260096bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP