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REGISTERED NUMBER: 07252152



Financial Statements for the Year Ended 31 July 2024

for

Corner Enterprises Limited

Corner Enterprises Limited (Registered number: 07252152)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Corner Enterprises Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr S Jagatheepan





REGISTERED OFFICE: Western Garage
172 Bristol Road
Bristol
Somerset
BS36 2AX





REGISTERED NUMBER: 07252152





ACCOUNTANTS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

Corner Enterprises Limited (Registered number: 07252152)

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 1,654,705 1,657,061

CURRENT ASSETS
Inventories 5 48,980 43,871
Cash at bank and in hand 536,957 422,914
585,937 466,785
CREDITORS
Amounts falling due within one year 6 (770,489 ) (663,315 )
NET CURRENT LIABILITIES (184,552 ) (196,530 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,470,153

1,460,531

CREDITORS
Amounts falling due after more than one
year

7

(381,937

)

(455,749

)

PROVISIONS FOR LIABILITIES 9 (68,810 ) (68,810 )
NET ASSETS 1,019,406 935,972

CAPITAL AND RESERVES
Called up share capital 10 1 1
Fair value reserve 11 275,239 275,239
Retained earnings 11 744,166 660,732
SHAREHOLDERS' FUNDS 1,019,406 935,972

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 director acknowledges his 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.

Corner Enterprises Limited (Registered number: 07252152)

Statement of Financial Position - continued
31 July 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 April 2025 and were signed by:





Mr S Jagatheepan - Director


Corner Enterprises Limited (Registered number: 07252152)

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


1. STATUTORY INFORMATION

Corner Enterprises Limited is a private company, limited by shares , registered in Not specified/Other. 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 as modified by the revaluation of certain assets.

Turnover
Revenue 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.

Stocks
Inventories 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 6 ).

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 August 2023
and 31 July 2024 1,647,205 21,825 1,669,030
DEPRECIATION
At 1 August 2023 - 11,969 11,969
Charge for year - 2,356 2,356
At 31 July 2024 - 14,325 14,325
NET BOOK VALUE
At 31 July 2024 1,647,205 7,500 1,654,705
At 31 July 2023 1,647,205 9,856 1,657,061

Corner Enterprises Limited (Registered number: 07252152)

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


4. PROPERTY, PLANT AND EQUIPMENT - continued

Cost or valuation at 31 July 2024 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 2017 344,049 - 344,049
Valuation in 2018 247,205 - 247,205
Cost 1,055,951 21,825 1,077,776
1,647,205 21,825 1,669,030

5. INVENTORIES
31.7.24 31.7.23
£    £   
Finished goods 48,980 43,871

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts (see note 8) 18,295 28,333
Trade creditors 193,660 132,653
Tax 33,597 46,652
Social security and other taxes 814 6,858
Pension Liability 299 270
VAT 2,214 8,501
Directors' current accounts 502,277 420,715
Accruals and deferred income 19,333 19,333
770,489 663,315

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans (see note 8) 243,937 300,749
Accruals and deferred income 138,000 155,000
381,937 455,749

8. LOANS

An analysis of the maturity of loans is given below:

31.7.24 31.7.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 18,295 28,333

Corner Enterprises Limited (Registered number: 07252152)

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


8. LOANS - continued
31.7.24 31.7.23
£    £   
Amounts falling due between two and five years:
Bank Loan 175K - 01049468 75,133 89,444
Bank Loan 60K - 01053368 12,813 19,443
Bank Loan 175K - 01037249 8,989 26,073
Bank Loan 300K - 01051683 147,002 165,789
243,937 300,749

9. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 68,810 68,810

Deferred
tax
£   
Balance at 1 August 2023 68,810
Balance at 31 July 2024 68,810

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
1 Ordinary Share £1 1 1

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 August 2023 660,732 275,239 935,971
Profit for the year 98,434 98,434
Dividends (15,000 ) (15,000 )
At 31 July 2024 744,166 275,239 1,019,405