REGISTERED NUMBER: 09896026 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CORNERSTONE GREENBANK LTD

PREVIOUSLY KNOWN AS

LAKES CONVENIENCE LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M J Wilson

Mr D G Wilson

REGISTERED OFFICE:

Greenbank House

217 Abbey Road

Barrow-in-furness

Cumbria

LA14 5JY

REGISTERED NUMBER:

09896026 (England and Wales)

BANKERS:

Lloyds Bank plc

121-135 Dalton Road

Barrow-in-Furness

Cumbria

LA14 1HZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

21,768

7,123

Investment property

6

86,127

86,127

107,895

93,250

CURRENT ASSETS

Stocks

-

35,000

Debtors

88,930

2,750

Cash at bank and in hand

100,607

49,172

189,537

86,922

CREDITORS

Amounts falling due within one year

100,282

112,107

NET CURRENT ASSETS/(LIABILITIES)

89,255

(25,185

)

TOTAL ASSETS LESS CURRENT LIABILITIES

197,150

68,065

CREDITORS

Amounts falling due after more than one year

3,284

13,540

NET ASSETS

193,866

54,525

CAPITAL AND RESERVES

Called up share capital

8

102

102

Retained earnings

193,764

54,423

SHAREHOLDERS' FUNDS

193,866

54,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

Mr M J Wilson - Director

Mr D G Wilson - Director

1.	STATUTORY INFORMATION

Cornerstone Greenbank Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 net invoiced sales of goods and services, excluding VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of seven years.

Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

203,998

Disposals

(203,998

)

At 31 December 2024

-

AMORTISATION

At 1 January 2024

203,998

Eliminated on disposal

(203,998

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

23,744

Additions

17,440

Disposals

(13,320

)

At 31 December 2024

27,864

DEPRECIATION

At 1 January 2024

16,621

Charge for year

2,576

Eliminated on disposal

(13,101

)

At 31 December 2024

6,096

NET BOOK VALUE

At 31 December 2024

21,768

At 31 December 2023

7,123

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

86,127

NET BOOK VALUE

At 31 December 2024

86,127

At 31 December 2023

86,127

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

14,164

24,167

Lloyds Bank PLC hold charge over the company incorporating a fixed charge, a floating charge and a negative pledge, over all the property of the company, and a charge over the leasehold property, 1 Lakes Parade, Ennerdale Drive, Barrow in Furness.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100

2

Dividend

£1

2

2

102

102

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

Mr M J Wilson

Balance outstanding at start of year

-

18,833

Amounts repaid

-

(18,833

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Mr D G Wilson

Balance outstanding at start of year

-

18,833

Amounts repaid

-

(18,833

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-