Cornerstone Management Consultancy Ltd - Accounts to registrar (filleted) - small 18.2
Cornerstone Management Consultancy Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31st May 2021 |
| for |
| Cornerstone Management Consultancy Ltd |
| Cornerstone Management Consultancy Ltd (Registered number: 06590964) |
| Contents of the Financial Statements |
| for the Year Ended 31st May 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Cornerstone Management Consultancy Ltd |
| Company Information |
| for the Year Ended 31st May 2021 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 3rd Floor |
| 116 Dundas Street |
| Edinburgh |
| EH3 5DQ |
| Cornerstone Management Consultancy Ltd (Registered number: 06590964) |
| Balance Sheet |
| 31st May 2021 |
| 31.5.21 | 31.5.20 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| Cornerstone Management Consultancy Ltd (Registered number: 06590964) |
| Balance Sheet - continued |
| 31st May 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Cornerstone Management Consultancy Ltd (Registered number: 06590964) |
| Notes to the Financial Statements |
| for the Year Ended 31st May 2021 |
| 1. | STATUTORY INFORMATION |
| Cornerstone Management Consultancy Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Fixtures and fittings | - |
| Computer equipment | - |
| Taxation |
| Taxation for the year 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 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Cornerstone Management Consultancy Ltd (Registered number: 06590964) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st May 2021 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and | Computer |
| property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st June 2020 |
| Additions |
| At 31st May 2021 |
| DEPRECIATION |
| At 1st June 2020 |
| Charge for year |
| At 31st May 2021 |
| NET BOOK VALUE |
| At 31st May 2021 |
| At 31st May 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.21 | 31.5.20 |
| £ | £ |
| Directors' current accounts | 145,410 | 20,306 |
| S455 Debtor |
| VAT Repayable | 62,411 | 45,637 |
| PAYE Repayable | - | 2,142 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.21 | 31.5.20 |
| £ | £ |
| Bank loans and overdrafts |
| Corporation tax |
| Other creditors |
| Bounce Back Loan | 50,000 | - |
| Accrued expenses |
| Funding Circle Loan |
| Cornerstone Management Consultancy Ltd (Registered number: 06590964) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st May 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.21 | 31.5.20 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 109,142 | 109,142 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.5.21 | 31.5.20 |
| £ | £ |
| Bank loans |
| Bank loans have been secured against the property purchased by the company. |
| 9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| As at the 31 May 2021, the director owed £145,410 to the company |
| This loan includes interest, is unsecured and has no set repayment terms. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |