Registered number
08647499
Cornlea Consulting Limited
Filleted Accounts
31 August 2024
Ref: C028
Cornlea Consulting Limited
Registered number: 08647499
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 110,833 128,333
Tangible assets 4 123,170 135,212
234,003 263,545
Current assets
Stocks 15,500 12,500
Debtors 5 58,568 27,626
Cash at bank and in hand 31,514 62,806
105,582 102,932
Creditors: amounts falling due within one year 6 (171,347) (146,569)
Net current liabilities (65,765) (43,637)
Total assets less current liabilities 168,238 219,908
Creditors: amounts falling due after more than one year 7 (25,062) (88,359)
Net assets 143,176 131,549
Capital and reserves
Called up share capital 100 100
Profit and loss account 143,076 131,449
Shareholders' funds 143,176 131,549
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 N. Collins
Director
Approved by the board on 27 May 2025
Cornlea Consulting Limited
Notes to the Accounts
for the year ended 31 August 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).
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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, other than freehold land, 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 machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to 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 21 23
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 175,000
At 31 August 2024 175,000
Amortisation
At 1 September 2023 46,667
Provided during the year 17,500
At 31 August 2024 64,167
Net book value
At 31 August 2024 110,833
At 31 August 2023 128,333
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 September 2023 75,000 106,272 181,272
At 31 August 2024 75,000 106,272 181,272
Depreciation
At 1 September 2023 - 46,060 46,060
Charge for the year - 12,042 12,042
At 31 August 2024 - 58,102 58,102
Net book value
At 31 August 2024 75,000 48,170 123,170
At 31 August 2023 75,000 60,212 135,212
5 Debtors 2024 2023
£ £
Trade debtors 28,606 14,665
Other debtors 29,962 12,961
58,568 27,626
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 58,000 70,490
Trade creditors 25,617 2,235
Taxation and social security costs 79,986 70,190
Other creditors 7,744 3,654
171,347 146,569
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 25,062 88,359
8 Other information
Cornlea Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Queen Anne Drive
Worsley
Manchester
M28 1ZF
Cornlea Consulting Limited 08647499 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2025 Mr N. Collins No description of principal activity 08647499 2022-09-01 2023-08-31 08647499 core:WithinOneYear 2023-08-31 08647499 core:AfterOneYear 2023-08-31 08647499 core:ShareCapital 2023-08-31 08647499 core:RetainedEarningsAccumulatedLosses 2023-08-31 08647499 2023-09-01 2024-08-31 08647499 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08647499 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 08647499 bus:Director40 2023-09-01 2024-08-31 08647499 1 2023-09-01 2024-08-31 08647499 2 2023-09-01 2024-08-31 08647499 core:Goodwill 2023-09-01 2024-08-31 08647499 core:LandBuildings 2023-09-01 2024-08-31 08647499 core:PlantMachinery 2023-09-01 2024-08-31 08647499 countries:England 2023-09-01 2024-08-31 08647499 bus:FRS102 2023-09-01 2024-08-31 08647499 bus:FilletedAccounts 2023-09-01 2024-08-31 08647499 2024-08-31 08647499 core:WithinOneYear 2024-08-31 08647499 core:AfterOneYear 2024-08-31 08647499 core:ShareCapital 2024-08-31 08647499 core:RetainedEarningsAccumulatedLosses 2024-08-31 08647499 core:Goodwill 2024-08-31 08647499 core:LandBuildings 2024-08-31 08647499 core:PlantMachinery 2024-08-31 08647499 2023-08-31 08647499 core:Goodwill 2023-08-31 08647499 core:LandBuildings 2023-08-31 08647499 core:PlantMachinery 2023-08-31 iso4217:GBP xbrli:pure