Cornerstone Trading Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01634479 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

CORNERSTONE TRADING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J.R. Monk

SECRETARY:

P.E. Monk

REGISTERED OFFICE:

1 High Street

Thatcham

Berks

RG19 4JG

REGISTERED NUMBER:

01634479 (England and Wales)

ACCOUNTANTS:

C B Heslop & Company Limited

Chartered Accountants

1 High Street

Thatcham

Berks

RG19 3JG

FIXED ASSETS

Tangible assets

4

-

1,119

CURRENT ASSETS

Cash at bank

61,013

63,580

CREDITORS

Amounts falling due within one year

5

49,199

16,639

NET CURRENT ASSETS

11,814

46,941

TOTAL ASSETS LESS CURRENT LIABILITIES

11,814

48,060

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

11,714

47,960

SHAREHOLDERS' FUNDS

11,814

48,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 14 December 2017 and were signed by:

J.R. Monk - Director

1.	STATUTORY INFORMATION

Cornerstone Trading 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 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Office equipment

-

25% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Office

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2016

1,800

489

4,937

7,226

Disposals

(1,800

)

(489

)

(4,937

)

(7,226

)

At 31 March 2017

-

-

-

-

DEPRECIATION

At 1 April 2016

1,427

484

4,196

6,107

Eliminated on disposal

(1,427

)

(484

)

(4,196

)

(6,107

)

At 31 March 2017

-

-

-

-

NET BOOK VALUE

At 31 March 2017

-

-

-

-

At 31 March 2016

373

5

741

1,119

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Taxation and social security

(12,565

)

(2,767

)

Other creditors

61,764

19,406

49,199

16,639

6.	ULTIMATE CONTROLLING PARTY