REGISTERED NUMBER: OC327323 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

CORNERSTONE HOLDINGS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr D Less

Cornerstone Estates (UK) Limited

REGISTERED OFFICE:

3rd Floor

Marlborough House

298 Regents Park Road

Finchley

London

N3 2SZ

REGISTERED NUMBER:

OC327323 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3rd Floor

Marlborough House

298 Regents Park Road

Finchley

London

N3 2SZ

FIXED ASSETS

Tangible assets

4

748

997

Investments

5

1

1

Investment property

6

3,350,720

3,350,720

3,351,469

3,351,718

CURRENT ASSETS

Debtors

7

291,653

247,458

Cash at bank

9,159

6,811

300,812

254,269

CREDITORS

Amounts falling due within one year

8

372,299

250,359

NET CURRENT (LIABILITIES)/ASSETS

(71,487

)

3,910

TOTAL ASSETS LESS CURRENT LIABILITIES

3,279,982

3,355,628

CREDITORS

Amounts falling due after more than one year

9

1,650,000

1,650,000

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,629,982

1,705,628

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

75,078

150,724

MEMBERS' OTHER INTERESTS

Fair value reserve

12

1,554,904

1,554,904

1,629,982

1,705,628

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

75,078

150,724

Members' other interests

1,554,904

1,554,904

Amounts due from members

7

(212,046

)

-

1,417,936

1,705,628

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 12 December 2025 and were signed by:

Mr D Less - Designated member

1.	STATUTORY INFORMATION

Cornerstone Holdings LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rent received.

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 etc

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment properties are included in the balance sheet at their open market values, with the aggregate surplus or deficit being transferred to a fair value reserve. No depreciation is provided.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

2,813

DEPRECIATION

At 1 April 2024

1,816

Charge for year

249

At 31 March 2025

2,065

NET BOOK VALUE

At 31 March 2025

748

At 31 March 2024

997

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

3,350,720

NET BOOK VALUE

At 31 March 2025

3,350,720

At 31 March 2024

3,350,720

Fair value at 31 March 2025 is represented by:

£

Valuation in 2016

1,084,796

Valuation in 2017

470,108

Cost

1,795,816

3,350,720

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

291,653

247,458

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

372,299

250,359

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,650,000

1,650,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgage

1,650,000

1,650,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Mortgages

1,650,000

1,650,000

The mortgages are secured over the fixed asset investment properties.

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.

12.

RESERVES

The fair value reserve is not distributable.