Company registration number:
07471724
Cherry Bank Cottages Limited
Unaudited filleted financial statements
31 March 2023
Cherry Bank Cottages Limited
Directors and other information
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Directors |
Mr H D Taylor |
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Mrs W J Taylor |
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Company number |
07471724 |
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Registered office |
Heritage Exchange |
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South Lane |
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Elland |
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HX5 0HG |
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Business address |
161 Lane Head Road |
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Shepley |
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Huddersfield |
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HD8 8BW |
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Accountants |
Hodgson Hey Limited |
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Heritage Exchange |
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South Lane |
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Elland |
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HX5 0HG |
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Cherry Bank Cottages Limited
Statement of financial position
31 March 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Investments |
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5 |
696,018 |
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694,518 |
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_______ |
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_______ |
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696,018 |
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694,518 |
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Current assets |
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Cash at bank and in hand |
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38,663 |
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66,683 |
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_______ |
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_______ |
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38,663 |
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66,683 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
460,911) |
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(
491,457) |
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_______ |
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_______ |
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Net current liabilities |
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(
422,248) |
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(
424,774) |
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_______ |
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_______ |
Total assets less current liabilities |
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273,770 |
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269,744 |
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_______ |
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_______ |
Net assets |
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273,770 |
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269,744 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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100 |
Profit and loss account |
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273,670 |
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269,644 |
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_______ |
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_______ |
Shareholders funds |
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273,770 |
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269,744 |
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_______ |
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_______ |
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For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
29 August 2023
, and are signed on behalf of the board by:
Mr H D Taylor
Director
Company registration number:
07471724
Cherry Bank Cottages Limited
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cherry Bank Cottages Limited, Heritage Exchange, South Lane, Elland, HX5 0HG.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
2
).
5.
Investments
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Other investments other than loans |
Total |
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£ |
£ |
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Cost |
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At 1 April 2022 |
694,518 |
694,518 |
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Additions |
1,500 |
1,500 |
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_______ |
_______ |
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At 31 March 2023 |
696,018 |
696,018 |
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_______ |
_______ |
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Impairment |
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At 1 April 2022 and 31 March 2023 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 March 2023 |
696,018 |
696,018 |
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_______ |
_______ |
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At 31 March 2022 |
694,518 |
694,518 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Corporation tax |
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- |
2,541 |
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Other creditors |
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460,911 |
488,916 |
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_______ |
_______ |
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460,911 |
491,457 |
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_______ |
_______ |
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7.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2023 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr H D Taylor |
(
243,978) |
14,033 |
(
229,945) |
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Mrs W J Taylor |
(
243,978) |
14,032 |
(
229,946) |
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_______ |
_______ |
_______ |
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(
487,956) |
28,065 |
(
459,891) |
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_______ |
_______ |
_______ |
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2022 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr H D Taylor |
(
256,247) |
12,269 |
(
243,978) |
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Mrs W J Taylor |
(
256,248) |
12,270 |
(
243,978) |
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_______ |
_______ |
_______ |
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(
512,495) |
24,539 |
(
487,956) |
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_______ |
_______ |
_______ |
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8.
Controlling party
The company was controlled throughout the year by the directors who own 100% of the issued share capital.