Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31No description of principal activity2024-01-010false0truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 15074706 2023-12-31 15074706 2024-01-01 2024-12-31 15074706 2023-01-01 2023-12-31 15074706 2024-12-31 15074706 c:Director1 2024-01-01 2024-12-31 15074706 d:FurnitureFittings 2024-01-01 2024-12-31 15074706 d:FurnitureFittings 2024-12-31 15074706 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 15074706 d:LeaseholdInvestmentProperty 2024-01-01 2024-12-31 15074706 d:LeaseholdInvestmentProperty 2024-12-31 15074706 d:LeaseholdInvestmentProperty 2 2024-01-01 2024-12-31 15074706 d:CurrentFinancialInstruments 2024-12-31 15074706 d:Non-currentFinancialInstruments 2024-12-31 15074706 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 15074706 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 15074706 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 15074706 d:ShareCapital 2024-12-31 15074706 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 15074706 d:RetainedEarningsAccumulatedLosses 2024-12-31 15074706 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 15074706 c:OrdinaryShareClass1 2024-01-01 2024-12-31 15074706 c:OrdinaryShareClass1 2024-12-31 15074706 c:FRS102 2024-01-01 2024-12-31 15074706 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 15074706 c:FullAccounts 2024-01-01 2024-12-31 15074706 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 15074706 f:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 15074706









CORNERSTONE GLOBAL (E14) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

 
CORNERSTONE GLOBAL (E14) LIMITED
REGISTERED NUMBER: 15074706

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
201,386

Investment property
 5 
38,250,000

  
38,451,386

Current assets
  

Debtors: amounts falling due within one year
 6 
81,340

Cash at bank and in hand
 7 
62,658

  
143,998

Creditors: amounts falling due within one year
 8 
(7,467,968)

Net current (liabilities)/assets
  
 
 
(7,323,970)

Total assets less current liabilities
  
31,127,416

Creditors: amounts falling due after more than one year
 9 
(27,888,700)

Provisions for liabilities
  

Deferred tax
 11 
(1,280,911)

  
 
 
(1,280,911)

Net assets
  
1,957,805


Capital and reserves
  

Called up share capital 
 12 
30

Profit and loss account
 13 
1,957,775

  
1,957,805


Page 1

 
CORNERSTONE GLOBAL (E14) LIMITED
REGISTERED NUMBER: 15074706
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J Shindler
Director

Date: 14 August 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
CORNERSTONE GLOBAL (E14) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

Cornerstone Global (E14) Limited is a private company limited by shares, registered in England and Wales. The registered office address is 5th Floor, 30 Broadwick Street, London, England, W1F 8JB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are presented in Sterling (£), which is the functional currency of the entity.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3

 
CORNERSTONE GLOBAL (E14) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
CORNERSTONE GLOBAL (E14) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Page 5

 
CORNERSTONE GLOBAL (E14) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Basic financial liabilities

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 assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration.

Page 6

 
CORNERSTONE GLOBAL (E14) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


Additions
251,733



At 31 December 2024

251,733



Depreciation


Charge for the period on owned assets
50,347



At 31 December 2024

50,347



Net book value



At 31 December 2024
201,386


5.


Investment property


Long term leasehold investment property

£



Valuation


Additions at cost
33,126,355


Surplus on revaluation
5,123,645



At 31 December 2024
38,250,000

The 2024 valuations were made by the director, on an open market value for existing use basis.




Page 7

 
CORNERSTONE GLOBAL (E14) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

6.


Debtors

2024
£


Amounts owed by joint ventures and associated undertakings
50,000

Other debtors
5,030

Prepayments and accrued income
26,310

81,340



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
62,658

62,658



8.


Creditors: Amounts falling due within one year

2024
£

Other creditors
6,351,724

Accruals and deferred income
1,116,244

7,467,968


Page 8

 
CORNERSTONE GLOBAL (E14) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

9.


Creditors: Amounts falling due after more than one year

2024
£

Other loans
27,888,700

27,888,700


The following liabilities were secured:

2024
£



Other Loans
27,888,700

27,888,700

Details of security provided:

There are fixed and floating charges over the assets of the company in respect of the loan.


10.


Loans


Analysis of the maturity of loans is given below:


2024
£


Amounts falling due more than 1 year

Other loans
27,888,700


27,888,700




Page 9

 
CORNERSTONE GLOBAL (E14) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

11.


Deferred taxation



2024


£






Charged to profit or loss
(1,280,911)



At end of year
(1,280,911)

The deferred taxation balance is made up as follows:

2024
£


Revaluation of property
(1,280,911)

(1,280,911)


12.


Share capital

2024
£
Allotted, called up and fully paid


30 Ordinary shares of £1.00 each
30


On incorporation 30 ordinary shares of £1 each were issued at par to create the initial capital base of the company. 


13.


Reserves

Profit and loss account

Included in the profit and loss reserves are unrealised surplus on the revaluation of leasehold property after taking into account deferred tax, amounting to £3,842,734.

 
Page 10