Cornerstone Holdings LLP - Accounts to registrar (filleted) - small 18.2

Cornerstone Holdings LLP - Accounts to registrar (filleted) - small 18.2

CORNERSTONE HOLDINGS LLP - Company Information

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REGISTERED NUMBER: OC327323 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2018

for

CORNERSTONE HOLDINGS LLP
CORNERSTONE HOLDINGS LLP (REGISTERED NUMBER: OC327323)

Contents of the Financial Statements
for the year ended 31 March 2018










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORNERSTONE HOLDINGS LLP

General Information
for the year ended 31 March 2018







Designated members: Mr D Less
Cornerstone Estates (UK) Limited





Registered office: 305 Regents Park Road
Finchley
London
N3 1DP





Registered number: OC327323 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
305 Regents Park Road
Finchley
London
N3 1DP
Page 1
CORNERSTONE HOLDINGS LLP (REGISTERED NUMBER: OC327323)

Balance Sheet
31 March 2018

2018 2017
Notes £ £ £ £
Fixed assets
Investments 3 1 1
Investment property 4 3,350,720 3,350,720
3,350,721 3,350,721

Current assets
Debtors 5 30,803 70,488
Cash at bank 74,866 17,745
105,669 88,233
Creditors
Amounts falling due within one year 6 108,841 111,752
Net current liabilities (3,172 ) (23,519 )
Total assets less current liabilities 3,347,549 3,327,202

Creditors
Amounts falling due after more than one
year
7
1,484,051
1,501,343
Net assets attributable to members 1,863,498 1,825,859

Loans and other debts due to members 9 308,594 270,955

Members' other interests
Fair value reserve 10 1,554,904 1,554,904
1,863,498 1,825,859

Total members' interests
Loans and other debts due to members 9 308,594 270,955
Members' other interests 1,554,904 1,554,904
Amounts due from members 5 (8,803 ) (70,488 )
1,854,695 1,755,371

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2018.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act
2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies
Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied
to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006)
Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The notes form part of these financial statements

Page 2
CORNERSTONE HOLDINGS LLP (REGISTERED NUMBER: OC327323)

Balance Sheet - continued
31 March 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP on 20 December 2018 and were signed by:





Mr D Less - Designated member

The notes form part of these financial statements

Page 3
CORNERSTONE HOLDINGS LLP (REGISTERED NUMBER: OC327323)

Notes to the Financial Statements
for the year ended 31 March 2018


1. Statutory information

Cornerstone Holdings LLP is registered in England and Wales. The LLP's registered number and registered
office address can be found on the General Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rent received.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are included in the balance sheet at their open market values, with the aggregate surplus
or deficit being transferred to a fair value reserve. No depreciation is provided.

3. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 April 2017
and 31 March 2018 1
Net book value
At 31 March 2018 1
At 31 March 2017 1

4. Investment property
Total
£
Fair value
At 1 April 2017
and 31 March 2018 3,350,720
Net book value
At 31 March 2018 3,350,720
At 31 March 2017 3,350,720

Fair value at 31 March 2018 is represented by:

£
Valuation in 2016 1,084,796
Valuation in 2017 470,108
Cost 1,795,816
3,350,720

Page 4
CORNERSTONE HOLDINGS LLP (REGISTERED NUMBER: OC327323)

Notes to the Financial Statements - continued
for the year ended 31 March 2018


5. Debtors: amounts falling due within one year
2018 2017
£ £
Amounts owed by related undertakings 22,000 -
Other debtors 8,803 70,488
30,803 70,488

6. Creditors: amounts falling due within one year
2018 2017
£ £
Trade creditors 4,460 6,678
Amounts owed to related undertakings 17,186 19,556
Other creditors 87,195 85,518
108,841 111,752

7. Creditors: amounts falling due after more than one year
2018 2017
£ £
Bank loans 1,484,051 1,501,343

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage 1,484,051 1,501,343

8. Secured debts

The following secured debts are included within creditors:

2018 2017
£ £
Mortgages 1,484,051 1,501,343

The mortgages are secured over the fixed asset investment properties.

9. Loans and other debts due to members

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a
winding up.

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other
interests'.

10. Reserves

The fair value reserve is not distributable.

Page 5