Corestone Limited

2021-08-012022-07-312022-07-31false09694512Corestone Limited2023-04-2446760iso4217:GBPxbrli:pure096945122021-08-01096945122022-07-31096945122021-08-012022-07-31096945122020-08-01096945122021-07-31096945122020-08-012021-07-3109694512bus:SmallEntities2021-08-012022-07-3109694512bus:AuditExempt-NoAccountantsReport2021-08-012022-07-3109694512bus:FullAccounts2021-08-012022-07-3109694512bus:PrivateLimitedCompanyLtd2021-08-012022-07-3109694512core:WithinOneYear2022-07-3109694512core:AfterOneYear2022-07-3109694512core:WithinOneYear2021-07-3109694512core:AfterOneYear2021-07-3109694512core:ShareCapital2022-07-3109694512core:SharePremium2022-07-3109694512core:RevaluationReserve2022-07-3109694512core:OtherReservesSubtotal2022-07-3109694512core:RetainedEarningsAccumulatedLosses2022-07-3109694512core:ShareCapital2021-07-3109694512core:SharePremium2021-07-3109694512core:RevaluationReserve2021-07-3109694512core:OtherReservesSubtotal2021-07-3109694512core:RetainedEarningsAccumulatedLosses2021-07-3109694512core:LandBuildings2022-07-3109694512core:PlantMachinery2022-07-3109694512core:Vehicles2022-07-3109694512core:FurnitureFittings2022-07-3109694512core:OfficeEquipment2022-07-3109694512core:NetGoodwill2022-07-3109694512core:IntangibleAssetsOtherThanGoodwill2022-07-3109694512core:ListedExchangeTraded2022-07-3109694512core:UnlistedNon-exchangeTraded2022-07-3109694512core:LandBuildings2021-07-3109694512core:PlantMachinery2021-07-3109694512core:Vehicles2021-07-3109694512core:FurnitureFittings2021-07-3109694512core:OfficeEquipment2021-07-3109694512core:NetGoodwill2021-07-3109694512core:IntangibleAssetsOtherThanGoodwill2021-07-3109694512core:ListedExchangeTraded2021-07-3109694512core:UnlistedNon-exchangeTraded2021-07-3109694512core:LandBuildings2021-08-012022-07-3109694512core:PlantMachinery2021-08-012022-07-3109694512core:Vehicles2021-08-012022-07-3109694512core:FurnitureFittings2021-08-012022-07-3109694512core:OfficeEquipment2021-08-012022-07-3109694512core:NetGoodwill2021-08-012022-07-3109694512core:IntangibleAssetsOtherThanGoodwill2021-08-012022-07-3109694512core:ListedExchangeTraded2021-08-012022-07-3109694512core:UnlistedNon-exchangeTraded2021-08-012022-07-3109694512core:MoreThanFiveYears2021-08-012022-07-3109694512core:Non-currentFinancialInstruments2022-07-3109694512core:Non-currentFinancialInstruments2021-07-3109694512dpl:CostSales2021-08-012022-07-3109694512dpl:DistributionCosts2021-08-012022-07-3109694512dpl:AdministrativeExpenses2021-08-012022-07-3109694512core:LandBuildings2021-08-012022-07-3109694512core:PlantMachinery2021-08-012022-07-3109694512core:Vehicles2021-08-012022-07-3109694512core:FurnitureFittings2021-08-012022-07-3109694512core:OfficeEquipment2021-08-012022-07-3109694512core:NetGoodwill2021-08-012022-07-3109694512core:IntangibleAssetsOtherThanGoodwill2021-08-012022-07-3109694512dpl:GroupUndertakings2021-08-012022-07-3109694512dpl:ParticipatingInterests2021-08-012022-07-3109694512dpl:GroupUndertakingscore:ListedExchangeTraded2021-08-012022-07-3109694512core:ListedExchangeTraded2021-08-012022-07-3109694512dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-08-012022-07-3109694512core:UnlistedNon-exchangeTraded2021-08-012022-07-3109694512dpl:CostSales2020-08-012021-07-3109694512dpl:DistributionCosts2020-08-012021-07-3109694512dpl:AdministrativeExpenses2020-08-012021-07-3109694512core:LandBuildings2020-08-012021-07-3109694512core:PlantMachinery2020-08-012021-07-3109694512core:Vehicles2020-08-012021-07-3109694512core:FurnitureFittings2020-08-012021-07-3109694512core:OfficeEquipment2020-08-012021-07-3109694512core:NetGoodwill2020-08-012021-07-3109694512core:IntangibleAssetsOtherThanGoodwill2020-08-012021-07-3109694512dpl:GroupUndertakings2020-08-012021-07-3109694512dpl:ParticipatingInterests2020-08-012021-07-3109694512dpl:GroupUndertakingscore:ListedExchangeTraded2020-08-012021-07-3109694512core:ListedExchangeTraded2020-08-012021-07-3109694512dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-08-012021-07-3109694512core:UnlistedNon-exchangeTraded2020-08-012021-07-3109694512core:NetGoodwill2022-07-3109694512core:IntangibleAssetsOtherThanGoodwill2022-07-3109694512core:LandBuildings2022-07-3109694512core:PlantMachinery2022-07-3109694512core:Vehicles2022-07-3109694512core:FurnitureFittings2022-07-3109694512core:OfficeEquipment2022-07-3109694512core:AfterOneYear2022-07-3109694512core:WithinOneYear2022-07-3109694512core:ListedExchangeTraded2022-07-3109694512core:UnlistedNon-exchangeTraded2022-07-3109694512core:ShareCapital2022-07-3109694512core:SharePremium2022-07-3109694512core:RevaluationReserve2022-07-3109694512core:OtherReservesSubtotal2022-07-3109694512core:RetainedEarningsAccumulatedLosses2022-07-3109694512core:NetGoodwill2021-07-3109694512core:IntangibleAssetsOtherThanGoodwill2021-07-3109694512core:LandBuildings2021-07-3109694512core:PlantMachinery2021-07-3109694512core:Vehicles2021-07-3109694512core:FurnitureFittings2021-07-3109694512core:OfficeEquipment2021-07-3109694512core:AfterOneYear2021-07-3109694512core:WithinOneYear2021-07-3109694512core:Liste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Corestone Limited

Registered Number
09694512
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2022

Corestone Limited

Company Information
for the year from 1 August 2021 to 31 July 2022


Directors	Mr M P Shaw
	Mrs C A Squires


Registered Address	Unit B, The Phoenix Centre South Hampshire Industrial Park
	Totton
	Southampton
	SO40 3SA


Registered Number	09694512 (England and Wales)

Corestone Limited

Balance Sheet as at
31 July 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	6		11,958		14,391
			11,958		14,391
Current assets
Stocks	7	262,753		163,540
Debtors	8	45,571		65,049
Cash at bank and on hand		25,607		41,286
		333,931		269,875
Creditors amounts falling due within one year	9	(164,822)		(131,620)
Net current assets (liabilities)			169,109		138,255
Total assets less current liabilities			181,067		152,646
Creditors amounts falling due after one year	10		(28,333)		(38,333)
Provisions for liabilities	11		(952)		(1,196)
Net assets			151,782		113,117
Capital and reserves
Called up share capital			100		100
Profit and loss account			151,682		113,017
Shareholders' funds			151,782		113,117

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 24 April 2023, and are signed on its behalf by:

Mrs C A Squires
Director
Registered Company No. 09694512

Corestone Limited

Notes to the Financial Statements
for the year ended 31 July 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Basis of measurement used in financial statements
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

4.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	25
	Fixtures and fittings	25
	Vehicles	25
	Office Equipment	25

	Stocks policy
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Taxation policy
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leases policy
	Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Valuation of financial instruments policy
	The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other financial Instruments Issues’ of FRS 102 to all of its financial instruments. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Valuation of financial instruments policy

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

5.	Employee information


		2022		2021
	Average number of employees during the year	2		2

6.	Property, plant and equipment

	Plant & machinery	Vehicles	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 August 21	-	18,744	14,192	32,936
Additions	1,556	-	-	1,556
At 31 July 22	1,556	18,744	14,192	34,492
Depreciation and impairment
At 01 August 21	-	12,814	5,731	18,545
Charge for year	389	1,483	2,117	3,989
At 31 July 22	389	14,297	7,848	22,534
Net book value
At 31 July 22	1,167	4,447	6,344	11,958
At 31 July 21	-	5,930	8,461	14,391

7.	Stocks

	2022	2021
	£	£
Finished goods	262,753	163,540
Total	262,753	163,540

8.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	45,298	30,157
Other debtors	98	34,521
Prepayments and accrued income	175	371
Total	45,571	65,049

9.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	53,740	30,570
Bank borrowings and overdrafts	10,000	10,000
Taxation and social security	34,896	37,433
Accrued liabilities and deferred income	66,186	53,617
Total	164,822	131,620

10.	Creditors after one year

	2022	2021
	£	£
Bank borrowings and overdrafts	28,333	38,333
Total	28,333	38,333

11.	Provisions for liabilities

	2022	2021
	£	£
Net deferred tax liability (asset)	952	1,196
Total	952	1,196