Cornerways Digital Ltd - Period Ending 2021-05-31
Cornerways Digital Ltd - Period Ending 2021-05-31
Registration number:
Cornerways Digital Ltd
for the Year Ended 31 May 2021
Cornerways Digital Ltd
Contents
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Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Cornerways Digital Ltd
Company Information
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Directors |
D Copple P M Cummings |
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Registered office |
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Accountants |
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Cornerways Digital Ltd
(Registration number: 12011621)
Abridged Balance Sheet as at 31 May 2021
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Note |
2021 |
2020 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Profit and loss account |
(1,599) |
(2,206) |
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Shareholders' deficit |
(1,499) |
(2,106) |
For the financial year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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Cornerways Digital Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2021
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Cornerways Digital Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2021
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Share capital |
Allotted, called up and fully paid shares
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2021 |
2020 |
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No. |
£ |
No. |
£ |
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100 |
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100 |