Registered number
04105111
THE CORNHILL GROUP LIMITED
Unaudited Filleted Accounts
31 December 2024
THE CORNHILL GROUP LIMITED
Registered number: 04105111
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,686 5,077
Investments 4 47,618 47,618
50,304 52,695
Current assets
Debtors 5 201,714 211,419
Cash at bank and in hand 28,241 86,680
229,955 298,099
Creditors: amounts falling due within one year 6 (261,576) (345,842)
Net current liabilities (31,621) (47,743)
Net assets 18,683 4,952
Capital and reserves
Called up share capital 150 150
Profit and loss account 18,533 4,802
Shareholders' funds 18,683 4,952
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M R Lance
Director
Approved by the board on 24 December 2025
THE CORNHILL GROUP LIMITED
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Group accounts
The company and its subsidiaries comprise a small group. The company has taken advantage of the exemptions provided by the Companies Act 2006 from preparing group accounts.
Turnover
Turnover represents the value, net of value added tax and discounts, of management fees charged to subsidiary companies.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 50% reducing balance
Other fittings and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at cost less any accumulated impairment losses as the fair value cannot be measured reliably.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Operating lease commitments
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 42,745
At 31 December 2024 42,745
Depreciation
At 1 January 2024 37,668
Charge for the year 2,391
At 31 December 2024 40,059
Net book value
At 31 December 2024 2,686
At 31 December 2023 5,077
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2024 47,618
At 31 December 2024 47,618
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 135,667 149,110
Deferred tax asset 14,705 14,108
Other debtors 51,342 48,201
201,714 211,419
Amounts due after more than one year included above 14,108 14,108
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 10,498 3,830
Amounts owed to group undertakings and undertakings in which the company has a participating interest 161,065 228,831
Taxation and social security costs 13,526 23,946
Other creditors 76,487 89,235
261,576 345,842
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 85 1,104
8 Other information
THE CORNHILL GROUP LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
5 Market Yard Mews
194-204 Bermondsey Street
London
SE25 3TQ
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