Registered number
13871447
Cherry Meadow Properties Ltd
Filleted Accounts
31 January 2023
Cherry Meadow Properties Ltd
Registered number: 13871447
Balance Sheet
as at 31 January 2023
Notes 2023
£
Fixed assets
Investments 3 545,000
Current assets
Cash at bank and in hand 8,260
Creditors: amounts falling due within one year 5 (415,355)
Net current liabilities (407,095)
Total assets less current liabilities 137,905
Provisions for liabilities (33,367)
Net assets 104,538
Capital and reserves
Called up share capital 120
Profit and loss account 104,418
Shareholders' funds 104,538
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs R L Horrocks
Director
Approved by the board on 25 October 2023
Cherry Meadow Properties Ltd
Notes to the Accounts
for the period from 25 January 2022 to 31 January 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from rental of investment properties. Turnover from the rental of investment properties is recognised when the rental income is falling due and not when it is paid.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023
Number
Average number of persons employed by the company 4
3 Investments
Other
investments
£
Cost
Additions 399,165
Revaluation 145,835
At 31 January 2023 545,000
75 Aintree Avenue was revalued at £130,000, 64 The Oval at £75,000, 94 Warmsworth Road at £120,000 and 37 Craithie Road at £220,000 on 31 January 2023 by the director. The director has good knowledge of the area and her estimates are based on values of similar properties on the market.
4 Investments held as current assets 2023
£
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the period
Unlisted investments 145,835
5 Creditors: amounts falling due within one year 2023
£
Directors loan account 122,715
Accruals 1,340
Other creditors 291,300
415,355
6 Other information
Cherry Meadow Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Analysis House
117 - 119 Sea Road
Sunderland
England
SR6 9EQ
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