REGISTERED NUMBER: 15434451 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 23 JANUARY 2024 TO 31 JANUARY 2025

FOR

CORNERSTONE ASSET LTD

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Investment property

4

345,000

CURRENT ASSETS

Debtors

5

23,249

Cash at bank and in hand

2,834

26,083

CREDITORS

Amounts falling due within one year

6

9,162

NET CURRENT ASSETS

16,921

TOTAL ASSETS LESS CURRENT LIABILITIES

361,921

CREDITORS

Amounts falling due after more than one year

7

(271,662

)

PROVISIONS FOR LIABILITIES

9

(28,941

)

NET ASSETS

61,318

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

10

86,823

Retained earnings

(25,605

)

61,318

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 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 15 December 2025 and were signed on its behalf by:

Mr M A Alidina - Director

1.	STATUTORY INFORMATION

Cornerstone Asset Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

15434451

Registered office:

1 Kings Avenue

London

N21 3NA

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 as modified by the revaluation of certain assets.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue represents the value of rental income chargeable in respect of the company's investment property.Revenue is recognised evenly over the period of the rental agreement.

Investment property

Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Cash and cash equivalents

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

229,236

Revaluations

115,764

At 31 January 2025

345,000

NET BOOK VALUE

At 31 January 2025

345,000

Fair value at 31 January 2025 is represented by:

£

Valuation in 2025

115,764

Cost

229,236

345,000

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

£

Cost

229,236

Investment property was valued on an open market basis on 31 January 2025 by its directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

23,249

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

144

Other creditors

9,018

9,162

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

271,662

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

271,662

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

271,662

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

9.	PROVISIONS FOR LIABILITIES

£

Deferred tax

28,941

Deferred

tax

£

Provided during period

28,941

Balance at 31 January 2025

28,941

10.

RESERVES

Fair

value

reserve

£

Movement

86,823

At 31 January 2025

86,823

11.	RELATED PARTY DISCLOSURES

Included within other debtors within one year is an amount of £23,009 due from the company's corporate shareholders. The amount is interest free and repayable on demand.

Also, included in other creditors less than one year is an amount of £7,518 due to connected companies under common directorship and shareholdings.The amount is interest free and repayable on demand.