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REGISTERED NUMBER: 08426899 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31st March 2023

for

Cherry Internet Limited

Cherry Internet Limited (Registered number: 08426899)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cherry Internet Limited

Company Information
for the Year Ended 31st March 2023







DIRECTOR: J Akers-Douglas





REGISTERED OFFICE: Partridges
Snatts Lane
Uckfield
East Sussex
TN22 2AR





REGISTERED NUMBER: 08426899 (England and Wales)





ACCOUNTANTS: Sigma Partners
Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE

Cherry Internet Limited (Registered number: 08426899)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 91,667 146,667
Tangible assets 5 29,912 37,592
121,579 184,259

CURRENT ASSETS
Debtors 6 115,000 115,000
Cash at bank 133,314 70,012
248,314 185,012
CREDITORS
Amounts falling due within one year 7 55,290 41,328
NET CURRENT ASSETS 193,024 143,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

314,603

327,943

PROVISIONS FOR LIABILITIES 7,391 7,061
NET ASSETS 307,212 320,882

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 307,112 320,782
SHAREHOLDERS' FUNDS 307,212 320,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

Cherry Internet Limited (Registered number: 08426899)

Balance Sheet - continued
31st March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 3rd November 2023 and were signed by:





J Akers-Douglas - Director


Cherry Internet Limited (Registered number: 08426899)

Notes to the Financial Statements
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Cherry Internet 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other intangibles are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

Cherry Internet Limited (Registered number: 08426899)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other Computer
intangibles software Totals
£    £    £   
COST
At 1st April 2022
and 31st March 2023 151,020 275,000 426,020
AMORTISATION
At 1st April 2022 151,020 128,333 279,353
Amortisation for year - 55,000 55,000
At 31st March 2023 151,020 183,333 334,353
NET BOOK VALUE
At 31st March 2023 - 91,667 91,667
At 31st March 2022 - 146,667 146,667

Cherry Internet Limited (Registered number: 08426899)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2022 749 102,682 10,133 113,564
Additions - - 215 215
At 31st March 2023 749 102,682 10,348 113,779
DEPRECIATION
At 1st April 2022 417 66,400 9,155 75,972
Charge for year 83 7,256 556 7,895
At 31st March 2023 500 73,656 9,711 83,867
NET BOOK VALUE
At 31st March 2023 249 29,026 637 29,912
At 31st March 2022 332 36,282 978 37,592

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st April 2022 102,682
Transfer to ownership (102,682 )
At 31st March 2023 -
DEPRECIATION
At 1st April 2022 66,400
Transfer to ownership (66,400 )
At 31st March 2023 -
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 36,282

Cherry Internet Limited (Registered number: 08426899)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 75,000 75,000
Other debtors 40,000 40,000
115,000 115,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 7,089
Trade creditors 1,662 1,753
Taxation and social security 50,737 30,922
Other creditors 2,891 1,564
55,290 41,328

8. ULTIMATE CONTROLLING PARTY

The controlling party is J Akers-Douglas.