Cornbread Limited - Accounts to registrar (filleted) - small 18.2

Cornbread Limited - Accounts to registrar (filleted) - small 18.2

CORNBREAD LIMITED - Company Information

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REGISTERED NUMBER: 05647030 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2020

FOR

CORNBREAD LIMITED
CORNBREAD LIMITED (REGISTERED NUMBER: 05647030)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORNBREAD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2020







DIRECTORS: S M Pasek
J A Head





REGISTERED OFFICE: First Floor, Winston House
349 Regents Park Road
London
N3 1DH





REGISTERED NUMBER: 05647030 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH
Page 1
CORNBREAD LIMITED (REGISTERED NUMBER: 05647030)

BALANCE SHEET
31 DECEMBER 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 249 137

CURRENT ASSETS
Debtors 5 3,655 7,861
Cash at bank 11,102 3,268
14,757 11,129
CREDITORS
Amounts falling due within one year 6 14,712 10,794
NET CURRENT ASSETS 45 335
TOTAL ASSETS LESS CURRENT
LIABILITIES
294
472

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 194 372
SHAREHOLDERS' FUNDS 294 472

The notes form part of these financial statements

Page 2 continued...
CORNBREAD LIMITED (REGISTERED NUMBER: 05647030)

BALANCE SHEET - continued
31 DECEMBER 2020


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 30 September 2021 and were signed on its behalf by:





S M Pasek - Director


The notes form part of these financial statements

Page 3
CORNBREAD LIMITED (REGISTERED NUMBER: 05647030)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020


1. STATUTORY INFORMATION

Cornbread 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.

Turnover
Turnover represents net invoiced sales of goods and services excluding value added tax.

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
Computer equipment - 25% on cost

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

Page 4 continued...
CORNBREAD LIMITED (REGISTERED NUMBER: 05647030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2020 4,594
Additions 333
At 31 December 2020 4,927
DEPRECIATION
At 1 January 2020 4,457
Charge for year 221
At 31 December 2020 4,678
NET BOOK VALUE
At 31 December 2020 249
At 31 December 2019 137

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 3,540 5,565
Other debtors 115 2,296
3,655 7,861

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 157 308
Taxation and social security 7,064 5,224
Other creditors 7,491 5,262
14,712 10,794

Page 5