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REGISTERED NUMBER: 00381177 (England and Wales)















Cornelius & Davies Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024






Cornelius & Davies Limited (Registered number: 00381177)

Contents of the Financial Statements
for the year ended 30 November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cornelius & Davies Limited

Company Information
for the year ended 30 November 2024







Directors: R A Cornelius
V E Cornelius





Secretary: R A Cornelius





Registered office: 63-66 Hatton Garden
London
EC1N 8LE





Registered number: 00381177 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Cornelius & Davies Limited (Registered number: 00381177)

Balance Sheet
30 November 2024

2024 2023
Notes £ £ £ £
Fixed assets
Investment property 4 1,050,898 1,066,034

Current assets
Stocks 533,413 527,589
Debtors 5 61,634 35,904
Cash at bank and in hand 43,591 70,643
638,638 634,136
Creditors
Amounts falling due within one year 6 974,013 989,730
Net current liabilities (335,375 ) (355,594 )
Total assets less current liabilities 715,523 710,440

Capital and reserves
Called up share capital 7 14,000 14,000
Retained earnings 8 701,523 696,440
Shareholders' funds 715,523 710,440

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 22 April 2025 and were signed on its behalf by:





R A Cornelius - Director


Cornelius & Davies Limited (Registered number: 00381177)

Notes to the Financial Statements
for the year ended 30 November 2024


1. Statutory information

Cornelius & Davies 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 represents amounts receivable for goods/services provided in the year and is stated net of VAT.

Investment property
Investment properties are included in the Balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Buildings are depreciated over 50 years which the Directors consider to be the buildings useful economic life. Land has not been depreciated in accordance with the Companies Act 2006.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

3. Employees and directors

The average number of employees during the year was 7 (2023 - 7 ) .

4. Investment property
Total
£
Fair value
At 1 December 2023
and 30 November 2024 1,081,171
Depreciation
At 1 December 2023 15,137
Charge for year 15,136
At 30 November 2024 30,273
Net book value
At 30 November 2024 1,050,898
At 30 November 2023 1,066,034

Cornelius & Davies Limited (Registered number: 00381177)

Notes to the Financial Statements - continued
for the year ended 30 November 2024


5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 60,764 35,904
Other debtors 870 -
61,634 35,904

6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 20,139 5,759
Taxation and social security 20,977 85,008
Other creditors 932,897 898,963
974,013 989,730

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
14,000 Ordinary £1.00 14,000 14,000

8. Reserves
Retained
earnings
£

At 1 December 2023 696,440
Profit for the year 8,083
Dividends (3,000 )
At 30 November 2024 701,523

9. Related party disclosures

The Directors and their families loaned the company £890,433 to acquire the freehold property. This loan is unsecured, interest free and repayable on demand. At 30 November 2024 £913,000 was owed to the directors and their families..