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REGISTERED NUMBER: 02236371 (England and Wales)















Unaudited Financial Statements

for the Period 1 July 2024 to 28 February 2025

for

Cornells Building Supplies Limited

Cornells Building Supplies Limited (Registered number: 02236371)






Contents of the Financial Statements
for the Period 1 July 2024 to 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cornells Building Supplies Limited

Company Information
for the Period 1 July 2024 to 28 February 2025







DIRECTORS: G Mayes
R M Evans
R B Ling





REGISTERED OFFICE: Unit 6
Rougham Industrial Estate
Rougham
Bury St Edmunds
Suffolk
IP30 9ND





REGISTERED NUMBER: 02236371 (England and Wales)





ACCOUNTANTS: Sarah Place Accountants Ltd
Unit 4b
Boldero Road
Bury St Edmunds
Suffolk
IP32 7BS

Cornells Building Supplies Limited (Registered number: 02236371)

Balance Sheet
28 February 2025

28.2.25 30.6.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,882 35,677

CURRENT ASSETS
Stocks 332,201 286,885
Debtors 5 346,451 439,641
Cash at bank 128,791 33,930
807,443 760,456
CREDITORS
Amounts falling due within one year 6 273,923 255,460
NET CURRENT ASSETS 533,520 504,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

577,402

540,673

PROVISIONS FOR LIABILITIES 8,664 6,045
NET ASSETS 568,738 534,628

CAPITAL AND RESERVES
Called up share capital 7 2,000 2,000
Retained earnings 566,738 532,628
SHAREHOLDERS' FUNDS 568,738 534,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2025 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.

Cornells Building Supplies Limited (Registered number: 02236371)

Balance Sheet - continued
28 February 2025


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 12 June 2025 and were signed on its behalf by:





G Mayes - Director


Cornells Building Supplies Limited (Registered number: 02236371)

Notes to the Financial Statements
for the Period 1 July 2024 to 28 February 2025

1. STATUTORY INFORMATION

Cornells Building Supplies 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 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.
Improvements to property - 20% on reducing balance
Plant and machinery - 46% on reducing balance and 20% on reducing balance

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

Taxation
Taxation for the period 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.

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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was NIL (2024 - 3 ).

Cornells Building Supplies Limited (Registered number: 02236371)

Notes to the Financial Statements - continued
for the Period 1 July 2024 to 28 February 2025

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 July 2024 22,884 97,372 120,256
Additions 9,903 8,268 18,171
At 28 February 2025 32,787 105,640 138,427
DEPRECIATION
At 1 July 2024 19,055 65,524 84,579
Charge for period 983 8,983 9,966
At 28 February 2025 20,038 74,507 94,545
NET BOOK VALUE
At 28 February 2025 12,749 31,133 43,882
At 30 June 2024 3,829 31,848 35,677

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 30.6.24
£    £   
Trade debtors 336,570 427,261
Other debtors 9,881 12,380
346,451 439,641

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 30.6.24
£    £   
Trade creditors 185,645 210,648
Taxation and social security 44,545 42,784
Other creditors 43,733 2,028
273,923 255,460

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.25 30.6.24
value: £    £   
2,000 Ordinary 2000 2,000 2,000