Company No: 07203931 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Tangible assets	5	428,033		108,190
Investment property	6	187,000		187,000
		615,033		295,190
Current assets
Stocks		13,768		10,641
Debtors	7	850,719		532,381
Cash at bank and in hand		475,873		753,851
		1,340,360		1,296,873
Creditors: amounts falling due within one year	8	( 860,851)		( 655,549)
Net current assets		479,509		641,324
Total assets less current liabilities		1,094,542		936,514
Creditors: amounts falling due after more than one year	9	( 214,035)		( 78,233)
Provision for liabilities		( 32,407)		( 36,217)
Net assets		848,100		822,064
Capital and reserves
Called-up share capital		100		100
Profit and loss account		848,000		821,964
Total shareholder's funds		848,100		822,064

For the financial year ending 30 November 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Cornerstone Design & Marketing Limited (registered number: 07203931) were approved and authorised for issue by the Board of Directors on 27 August 2026. They were signed on its behalf by:

D Wadsworth Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cornerstone Design & Marketing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Acorn Street, Lees, Oldham, OL4 3PD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year adjustment

During the preparation of the financial statements for the year ended 30 November 2025, the directors identified an error relating to the classification and measurement of a property in the comparative financial statements for the year ended 30 November 2024. The comparative figures have therefore been restated retrospectively in accordance with Section 10 of FRS 102.

Please see note 2 for further details of the adjustments recorded.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
* the Company has transferred the significant risks and rewards of ownership to the buyer;
* the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the transaction; and
* the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 5 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Leasehold improvements	depreciated over the life of the lease
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the Company's net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Company's net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date.

2. Prior year adjustment

During the preparation of the financial statements for the year ended 30 November 2025, the directors identified an error relating to the classification and measurement of a property in the comparative financial statements for the year ended 30 November 2024. The comparative figures have therefore been restated retrospectively in accordance with Section 10 of FRS 102.

In previous periods, the property, which was held to generate rental income, was classified as tangible fixed assets and accounted for under Section 17 of FRS 102. As the property was held to earn rental income, it met the definition of an investment property and should have been accounted for in accordance with Section 16 of FRS 102.

Accordingly, the property’s net book value of £114,291 at 1 December 2023 has been reclassified from tangible fixed assets to investment property. The reclassification itself had no effect on the company’s net assets at that date.

In accordance with Section 16 of FRS 102, the investment property has been measured at fair value based on the most recent valuation undertaken in December 2023. Consequently, a fair value gain of £69,779 has been recognised in the comparative profit and loss account. A related deferred tax liability and deferred tax charge of £17,444 have also been recognised.

As an investment property measured at fair value is not depreciated, the depreciation charge of £2,930 previously recognised in the comparative period has been reversed. This reversal increased the profit and loss account reserve carried forward by £2,930.

The resulting adjustments have been reflected in the comparative amounts for tangible fixed assets, investment property, deferred tax, the profit and loss account and the profit and loss account reserve.

		As previously reported		Adjustment		As restated
Year ended 30 November 2024		£		£		£
Tangible assets (note 5)		222,481		(114,291)		108,190
Investment property (note 6)		0		187,000		187,000
Provision for liabilities		(18,773)		(17,444)		(36,217)
Profit and Loss account		(766,699)		(55,265)		(821,964)

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	33		30

4. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 December 2024	10,000		10,000
At 30 November 2025	10,000		10,000
Accumulated amortisation
At 01 December 2024	10,000		10,000
At 30 November 2025	10,000		10,000
Net book value
At 30 November 2025	0		0
At 30 November 2024	0		0

5. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£		£
Cost
At 01 December 2024	0		159,677		160,255		19,495		21,917		361,344
Additions	364,864		0		13,726		0		0		378,590
Disposals	0		0		( 74,364)		0		0		( 74,364)
Transfers	159,677		( 159,677)		0		0		0		0
At 30 November 2025	524,541		0		99,617		19,495		21,917		665,570
Accumulated depreciation
At 01 December 2024	0		126,584		97,774		11,956		16,840		253,154
Charge for the financial year	31,536		0		14,132		1,885		1,275		48,828
Disposals	0		0		( 64,445)		0		0		( 64,445)
Transfers	126,584		( 126,584)		0		0		0		0
At 30 November 2025	158,120		0		47,461		13,841		18,115		237,537
Net book value
At 30 November 2025	366,421		0		52,156		5,654		3,802		428,033
At 30 November 2024	0		33,093		62,481		7,539		5,077		108,190

During the year, the company exercised the option to purchase the property that it previously occupied under a lease. The cost and accumulated depreciation of the related leasehold improvements have accordingly been transferred to land and buildings.

6. Investment property

	Investment property
	£
Valuation
As at 01 December 2024	187,000
As at 30 November 2025	187,000

In previous periods, the property, which was held to generate rental income, was incorrectly classified within tangible fixed assets and accounted for in accordance with Section 17 of FRS 102. As explained in the prior year adjustment note (note 2), the property has been reclassified as investment property in accordance with Section 16 of FRS 102. The net book value of the property at 1 December 2023 was £114,291. The property was subsequently measured at its fair value of £187,000, based on the most recent external valuation undertaken in December 2023.

The valuation was carried out by an external, independent firm of chartered surveyors having appropriate recognised professional qualifications and recent experience in the location and class of property being valued. The directors have reviewed market conditions between the valuation date and 30 November 2025 and consider that there have been no material changes affecting the reported fair value.

7. Debtors

	2025		2024
	£		£
Trade debtors	691,047		436,870
Amounts owed by directors	41,262		0
Prepayments and accrued income	104,484		95,511
S455	13,926		0
	850,719		532,381

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	6,904		2,304
Trade creditors	177,391		156,183
Accruals and deferred income	384,924		284,240
Taxation and social security	238,732		177,763
Other creditors	52,900		35,059
	860,851		655,549

The bank loans included above are secured by fixed charges over the relevant freehold properties and by fixed and floating charges over the assets and undertaking of the company.

9. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	214,035		78,233

The bank loans included above are secured by fixed charges over the relevant freehold properties and by fixed and floating charges over the assets and undertaking of the company.

10. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	0		47,997

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	5,726		5,911

11. Related party transactions

Transactions with the entity's directors

During the year, the company advanced £40,000 to a director of the company. Interest is charged on the outstanding balance at HMRC’s official rate of interest.

The loan is unsecured and repayable on demand. At the reporting date, £41,262 remained outstanding (2024: £nil). No amounts were repaid or written off during the year.