Company Registration No. 06573099 (England and Wales)
Cherry Professional Limited
Unaudited accounts
for the year ended 31 March 2023
Cherry Professional Limited
Unaudited accounts
Contents
Cherry Professional Limited
Company Information
for the year ended 31 March 2023
Directors
D N Asano
M J Burnett
Company Number
06573099 (England and Wales)
Registered Office
St Nicholas Court
25-27 Castle Gate
Nottingham
Notts
NG1 7AR
Accountants
Coates Franklin Ltd
Accountancy House
Station Road
Upper Broughton
LE14 3BQ
Cherry Professional Limited
Statement of financial position
as at 31 March 2023
Tangible assets
8,763
10,189
Debtors
1,135,996
1,081,585
Cash at bank and in hand
505,313
792,599
Creditors: amounts falling due within one year
(358,816)
(611,960)
Net current assets
1,282,493
1,262,224
Total assets less current liabilities
1,291,256
1,275,059
Provisions for liabilities
Deferred tax
(1,665)
(1,935)
Net assets
1,289,591
1,273,124
Called up share capital
98
98
Capital redemption reserve
1,549
1,549
Profit and loss account
1,287,944
1,271,477
Shareholders' funds
1,289,591
1,273,124
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. 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 May 2023 and were signed on its behalf by
D N Asano
Director
Company Registration No. 06573099
Cherry Professional Limited
Notes to the Accounts
for the year ended 31 March 2023
Cherry Professional Limited is a private company, limited by shares, registered in England and Wales, registration number 06573099. The registered office is St Nicholas Court, 25-27 Castle Gate, Nottingham, Notts, NG1 7AR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Cherry Professional Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Computer equipment
5
Investments
Other investments
Valuation at 1 April 2022
2,646
Valuation at 31 March 2023
-
Amounts falling due within one year
Trade debtors
225,974
354,991
Amounts due from group undertakings etc.
837,500
664,000
Accrued income and prepayments
67,291
56,951
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
60,730
66,896
Taxes and social security
203,799
313,302
Other creditors
4,044
4,044
Cherry Professional Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Deferred taxation
2023
2022
Accelerated capital allowances
1,665
1,935
Provision at start of year
1,935
2,380
Credited to the profit and loss account
(270)
(445)
Provision at end of year
1,665
1,935
Allotted, called up and fully paid:
49 A ordinary shares of £1 each
49
49
49 B ordinary shares of £1 each
49
49
10
Transactions with related parties
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
The company is wholly controlled by Cherry Professional Group Ltd. The place of business and registered office of Cherry Professional Group Ltd is St Nicholas Court, 25-27 Castle Gate, Nottingham, NG1 7AR.
12
Average number of employees
During the year the average number of employees was 31 (2022: 28).