The Cornfield Partnership Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03850195 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2025

for

The Cornfield Partnership Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Watson

F V Nash

REGISTERED OFFICE:

Heritage House

Talbot Lane

Swannington

Leicestershire

LE67 8QT

REGISTERED NUMBER:

03850195 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

9,680

14,087

Investments

5

50,298

-

Investment property

6

2,497,513

1,990,000

2,557,491

2,004,087

CURRENT ASSETS

Debtors

7

68,497

7,624

Cash at bank and in hand

114,180

760,727

182,677

768,351

CREDITORS

Amounts falling due within one year

8

(1,089,420

)

(1,114,248

)

NET CURRENT LIABILITIES

(906,743

)

(345,897

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,650,748

1,658,190

PROVISIONS FOR LIABILITIES

(29,514

)

(29,514

)

NET ASSETS

1,621,234

1,628,676

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

366,653

Retained earnings

1,254,481

1,261,923

1,621,234

1,628,676

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2026 and were signed on its behalf by:

R J Watson - Director

1.	STATUTORY INFORMATION

The Cornfield Partnership Limited 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.

Going Concern

The financial statements have been prepared on the going concern basis which assumes the company will continue to trade. This depends on the ability of the directors to maintain the necessary financial support.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST

At 1 October 2024

and 30 September 2025

53,859

45,480

1,475

100,814

DEPRECIATION

At 1 October 2024

52,157

33,095

1,475

86,727

Charge for year

1,311

3,096

-

4,407

At 30 September 2025

53,468

36,191

1,475

91,134

NET BOOK VALUE

At 30 September 2025

391

9,289

-

9,680

At 30 September 2024

1,702

12,385

-

14,087

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

30.9.25

30.9.24

£

Gold coin

50,298

-

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2024

1,990,000

Additions

507,513

At 30 September 2025

2,497,513

NET BOOK VALUE

At 30 September 2025

2,497,513

At 30 September 2024

1,990,000

The directors consider the fair value of investment property at the year end to be £2,497,513 (2024 £1,990,000). Valuations of investment property have been made on an open market value for existing use basis.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

Trade debtors

3,380

5,235

Other debtors

65,117

2,389

68,497

7,624

Other debtors includes prepayments and accrued income of £3,506 (2024 - £2,313).

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.25

30.9.24

£

Trade creditors

24,054

477

Taxation and social security

3,265

65,246

Other creditors

1,062,101

1,048,525

1,089,420

1,114,248

Other creditors includes accruals and deferred income of £12,950 (2024 - £2,775).

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2025 and 30 September 2024:

30.9.25

30.9.24

£

R J Watson

Balance outstanding at start of year

-

Amounts advanced

268

85,820

Amounts repaid

(268

)

(85,820

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

The loan was interest free and repayable on demand.