REGISTERED NUMBER: 06431899 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Cornerstone Property Group Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M N Carr

D H Ward

REGISTERED OFFICE:

Carlton House

High Street

Higham Ferrers

Northamptonshire

NN10 8BW

REGISTERED NUMBER:

06431899 (England and Wales)

ACCOUNTANTS:

Willsons

Chartered Accountants

Carlton House

High Street

Higham Ferrers

Northamptonshire

NN10 8BW

FIXED ASSETS

Tangible assets

4

39,343

52,458

Investments

5

3

3

Investment property

6

815,000

1,135,000

854,346

1,187,461

CURRENT ASSETS

Debtors

7

444,261

410,118

Cash at bank

109,354

50,046

553,615

460,164

CREDITORS

Amounts falling due within one year

8

319,075

317,883

NET CURRENT ASSETS

234,540

142,281

TOTAL ASSETS LESS CURRENT LIABILITIES

1,088,886

1,329,742

CREDITORS

Amounts falling due after more than one year

9

(371,570

)

(527,483

)

PROVISIONS FOR LIABILITIES

(39,002

)

(53,603

)

NET ASSETS

678,314

748,656

CAPITAL AND RESERVES

Called up share capital

11

8

6

Non-distributable reserve

12

249,540

346,355

Retained earnings

12

428,766

402,295

SHAREHOLDERS' FUNDS

678,314

748,656

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

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

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 29 September 2025 and were signed on its behalf by:

M N Carr - Director

1.	STATUTORY INFORMATION

Cornerstone Property Group 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about Cornerstone Property Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents the rental income due to the company for the period.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

The Investment property is shown at fair value as valued by the directors at the balance sheet date. Any change in fair value is shown within the profit and loss account.

Taxation

Taxation for the year 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 year 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.

The deferred tax liability on the balance sheet reflects the potential tax liability on the disposal of the investment properties at their fair value.

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.

Debtors and creditors receivable and payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

72,985

DEPRECIATION

At 1 April 2024

20,527

Charge for year

13,115

At 31 March 2025

33,642

NET BOOK VALUE

At 31 March 2025

39,343

At 31 March 2024

52,458

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

3

NET BOOK VALUE

At 31 March 2025

3

At 31 March 2024

3

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,135,000

Disposals

(320,000

)

At 31 March 2025

815,000

NET BOOK VALUE

At 31 March 2025

815,000

At 31 March 2024

1,135,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2013

1,063,000

Valuation in 2014

259,000

Valuation in 2015

79,000

Valuation in 2016

75,000

Valuation in 2017

(196,000

)

Valuation in 2018

80,000

Valuation in 2021

260,000

Valuation in 2023

(216,000

)

Valuation in 2024

(269,000

)

Valuation in 2025

(320,000

)

815,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

521,460

730,043

The investment property was valued on an open market basis on 31 March 2025 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

830

990

Amounts owed by group undertakings

7,716

12,702

Other debtors

430,008

390,006

Tax

1,587

-

Prepayments

4,120

6,270

Payments on account

-

150

444,261

410,118

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

5,851

5,465

Trade creditors

70

160

Amounts owed to group undertakings

661

661

Corporation Tax

-

1,586

Other creditors

2,000

-

Directors' current accounts

307,290

307,938

Accrued expenses

3,203

2,073

319,075

317,883

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 2-5 years

371,570

527,483

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

377,421

532,948

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

6

Ordinary

£1

8

6

12.

RESERVES

Retained

Non-distributable

earnings

reserve

Totals

£

£

£

At 1 April 2024

402,295

346,355

748,650

Deficit for the year

(70,344

)

-

(70,344

)

Investment properties

96,815

(96,815

)

-

At 31 March 2025

428,766

249,540

678,306

The Non-distributable reserve reflects the fair value movements in investment properties, as adjusted for the deferred tax effect. The reserve is not available for distribution as dividends.

13.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £430,000 (2024 £390,000) by a company controlled by M N Carr and D H Ward. At the balance sheet date, the company owed £2,000 (2024 £0) to a company controlled by M N Carr and D H Ward. No interest has been charged on any of the above loans.

14.	ULTIMATE CONTROLLING PARTY

The company was controlled by M N Carr and D H Ward at the balance sheet date.