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REGISTERED NUMBER: 07228912 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Cornerstones Education Limited

Cornerstones Education Limited (Registered number: 07228912)

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










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Cornerstones Education Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr S A Hickton
Ms M G Moore



REGISTERED OFFICE: Queen Street Chambers
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



REGISTERED NUMBER: 07228912 (England and Wales)



ACCOUNTANTS: Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: HSBC
37 High Street
Meadowhall Shopping Centre
Sheffield
South Yorkshire
S9 1EN

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Cornerstones Education Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cornerstones Education Limited for the year ended 31 July 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Cornerstones Education Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cornerstones Education Limited and state those matters that we have agreed to state to the Board of Directors of Cornerstones Education Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cornerstones Education Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cornerstones Education Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cornerstones Education Limited. You consider that Cornerstones Education Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cornerstones Education Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR


14 April 2025

Cornerstones Education Limited (Registered number: 07228912)

Balance Sheet
31 July 2024

31/7/24 31/7/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 26,846 44,505

CURRENT ASSETS
Debtors 5 171,328 207,478
Cash at bank and in hand 238,744 413,771
410,072 621,249
CREDITORS
Amounts falling due within one year 6 (1,103,693 ) (1,288,706 )
NET CURRENT LIABILITIES (693,621 ) (667,457 )
TOTAL ASSETS LESS CURRENT LIABILITIES (666,775 ) (622,952 )

CAPITAL AND RESERVES
Called up share capital 70 4
Share premium 299,995 149,999
Capital redemption reserve 1 1
Retained earnings (966,841 ) (772,956 )
SHAREHOLDERS' FUNDS (666,775 ) (622,952 )

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 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.

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 7 April 2025 and were signed on its behalf by:





Mr S A Hickton - Director


Cornerstones Education Limited (Registered number: 07228912)

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


1. STATUTORY INFORMATION

Cornerstones Education 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The company has reported a loss for the year and now has a deficit in shareholders funds of £666,775.

The directors have considered the above and their plans going forward, the company is expected to return to profit and therefore the directors believe it appropriate to prepare the accounts on a going concern basis.

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 the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

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.


Cornerstones Education Limited (Registered number: 07228912)

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


2. ACCOUNTING POLICIES - continued
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 30 (2023 - 32 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 August 2023 71,824 55,724 117,979 245,527
Additions - 2,510 6,655 9,165
Disposals - - (799 ) (799 )
At 31 July 2024 71,824 58,234 123,835 253,893
DEPRECIATION
At 1 August 2023 64,643 43,608 92,771 201,022
Charge for year 7,181 6,907 12,736 26,824
Eliminated on disposal - - (799 ) (799 )
At 31 July 2024 71,824 50,515 104,708 227,047
NET BOOK VALUE
At 31 July 2024 - 7,719 19,127 26,846
At 31 July 2023 7,181 12,116 25,208 44,505

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade debtors 130,634 120,821
Other debtors 40,694 86,657
171,328 207,478

Cornerstones Education Limited (Registered number: 07228912)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade creditors 31,407 47,877
Taxation and social security 121,063 129,715
Other creditors 951,223 1,111,114
1,103,693 1,288,706

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/7/24 31/7/23
£    £   
Within one year 19,483 31,699
Between one and five years 3,480 6,780
22,963 38,479