REGISTERED NUMBER: 08644359 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Cornerstone 2 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:

08644359 (England and Wales)

ACCOUNTANTS:

Willsons

Chartered Accountants

Carlton House

High Street

Higham Ferrers

Northamptonshire

NN10 8BW

FIXED ASSETS

Tangible assets

4

622

910

CURRENT ASSETS

Debtors

5

13,132

76,426

Cash at bank and in hand

43,942

1,818

57,074

78,244

CREDITORS

Amounts falling due within one year

6

40,086

32,002

NET CURRENT ASSETS

16,988

46,242

TOTAL ASSETS LESS CURRENT LIABILITIES

17,610

47,152

CREDITORS

Amounts falling due after more than one year

7

5,000

35,000

NET ASSETS

12,610

12,152

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

12,609

12,151

SHAREHOLDERS' FUNDS

12,610

12,152

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 2 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.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the period. When the outcome of work can be estimated reliably, turnover from the work done is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to percentage of job completed. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

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.

Debtors and creditors receivable / 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 NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

7,995

3,215

11,210

DEPRECIATION

At 1 April 2024

7,262

3,038

10,300

Charge for year

183

105

288

At 31 March 2025

7,445

3,143

10,588

NET BOOK VALUE

At 31 March 2025

550

72

622

At 31 March 2024

733

177

910

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

66

10,066

Amounts owed by group undertakings

661

661

Other debtors

10,940

65,000

VAT

1,465

699

13,132

76,426

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

30,000

30,000

Trade creditors

9,150

517

Corporation Tax

-

518

Accrued expenses

936

967

40,086

32,002

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 2-5 years

5,000

35,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1

Ordinary

£1

1

1

9.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £10,940 (2024 £65,000) from companies controlled by M N Carr and D H Ward. No interest has been charged on these loans.