CORNER 12 LTD - Filleted accounts

Registered number

09517779

CORNER 12 LTD

Filleted Accounts

31 March 2026

CORNER 12 LTD
Registered number:		09517779
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		4,913,701			4,913,701

Current assets
Debtors	4	10,393			6,313
Cash at bank and in hand		246,659			274,871
		257,052			281,184

Creditors: amounts falling due within one year	5	(70,909)			(61,645)

Net current assets			186,143			219,539

Total assets less current liabilities			5,099,844			5,133,240

Creditors: amounts falling due after more than one year	6		(4,500,000)			(4,592,500)


Net assets			599,844			540,740

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			598,844			539,740

Shareholder's funds			599,844			540,740

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.




Ms M E Christodoulou
Director
Approved by the board on 11 August 2026

CORNER 12 LTD
Notes to the Accounts
for the year ended 31 March 2026


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).

	Turnover
	Turnover is measured at the fair value of gross property rentals receivable.

	Investment properties
	Investment properties are not depreciated and are stated in the accounts at fair value. Any surplus or deficit in arriving at the fair value is dealt with through the profit and loss account.

	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.


2	Employees	2026		2025
Number			Number

	Average number of persons employed by the company	-		-


3	Tangible fixed assets
				Investment properties
£
	Cost
	At 1 April 2025			4,913,701
	At 31 March 2026			4,913,701

	Depreciation
	At 31 March 2026			-

	Net book value
	At 31 March 2026			4,913,701
	At 31 March 2025			4,913,701


	In the opinion of the directors the fair values of the investment properties as at the balance sheet date do not vary significantly from the actual cost of the properties as stated above.


4	Debtors	2026		2025
£			£

	Trade debtors	2,962		1,610
	Other debtors	7,431		4,703
		10,393		6,313


5	Creditors: amounts falling due within one year	2026		2025
£			£

	Corporation tax	19,701		21,417
	Other taxes and social security costs	3,300		3,300
	Other creditors	47,908		36,928
		70,909		61,645


6	Creditors: amounts falling due after one year	2026		2025
£			£

	Shareholder loans	4,500,000		4,592,500


7	Loans	2026		2025
£			£
	Creditors include:

	Unsecured shareholder loans
	Mr S A Christodoulou
	Director and shareholder

	Interest-free loan	2,300,000		2,392,500
	Loan bearing interest at 3% per annum repayable on 1 December 2026	2,200,000		2,200,000
		4,500,000		4,592,500

	The interest-bearing shareholder loan of £2,200,000 carries interest at the rate of 3% per annum and is due for repayment on 1 December 2026. However, Mr S A Christodoulou has undertaken not to seek any repayment of either of the above loans for a period of at least twelve months from the date of approval of the accounts. Both loans have therefore been included in creditors falling due after more than a year.


8	Related party transactions	2026		2025
£			£
	ASC Investments Ltd
	Mr S A Christodoulou is a director and shareholder of ASC Investments Ltd
	Serviced office rent paid to ASC Investments Ltd	10,000		10,000


9	Controlling party

	The company is controlled by Mr S A Christodoulou by virtue of his ownership of the company's entire issued share capital.

10	Other information

	CORNER 12 LTD is a private company limited by shares and incorporated in England. Its registered office is:
	1A Harmood Street
	London
	NW1 8DN