The Cherrycroft Practice Limited 08385077 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Provision of clinical psychology services and other therapies Digita Accounts Production Advanced 6.30.9574.0 true 08385077 2022-03-01 2023-02-28 08385077 2023-02-28 08385077 core:RetainedEarningsAccumulatedLosses 2023-02-28 08385077 core:ShareCapital 2023-02-28 08385077 core:CurrentFinancialInstruments 2023-02-28 08385077 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 08385077 core:Non-currentFinancialInstruments 2023-02-28 08385077 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 08385077 core:FurnitureFittings 2023-02-28 08385077 core:LandBuildings core:ShortLeaseholdAssets 2023-02-28 08385077 core:OfficeEquipment 2023-02-28 08385077 core:PlantMachinery 2023-02-28 08385077 bus:SmallEntities 2022-03-01 2023-02-28 08385077 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 08385077 bus:FullAccounts 2022-03-01 2023-02-28 08385077 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 08385077 bus:RegisteredOffice 2022-03-01 2023-02-28 08385077 bus:Director1 2022-03-01 2023-02-28 08385077 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 08385077 core:ComputerEquipment 2022-03-01 2023-02-28 08385077 core:FurnitureFittings 2022-03-01 2023-02-28 08385077 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 08385077 core:LandBuildings core:ShortLeaseholdAssets 2022-03-01 2023-02-28 08385077 core:LeaseholdImprovements 2022-03-01 2023-02-28 08385077 core:OfficeEquipment 2022-03-01 2023-02-28 08385077 core:PlantMachinery 2022-03-01 2023-02-28 08385077 countries:EnglandWales 2022-03-01 2023-02-28 08385077 2022-02-28 08385077 core:FurnitureFittings 2022-02-28 08385077 core:LandBuildings core:ShortLeaseholdAssets 2022-02-28 08385077 core:OfficeEquipment 2022-02-28 08385077 core:PlantMachinery 2022-02-28 08385077 2021-03-01 2022-02-28 08385077 2022-02-28 08385077 core:RetainedEarningsAccumulatedLosses 2022-02-28 08385077 core:ShareCapital 2022-02-28 08385077 core:CurrentFinancialInstruments 2022-02-28 08385077 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 08385077 core:Non-currentFinancialInstruments 2022-02-28 08385077 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 08385077 core:FurnitureFittings 2022-02-28 08385077 core:LandBuildings core:ShortLeaseholdAssets 2022-02-28 08385077 core:OfficeEquipment 2022-02-28 08385077 core:PlantMachinery 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 08385077

The Cherrycroft Practice Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 28 February 2023

 

The Cherrycroft Practice Limited

(Registration number: 08385077)
Statement of Financial Position as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

15,461

7,752

Current assets

 

Debtors

5

173,332

126,734

Cash at bank and in hand

 

18,124

1,211

 

191,456

127,945

Creditors: Amounts falling due within one year

6

(178,671)

(124,214)

Net current assets

 

12,785

3,731

Total assets less current liabilities

 

28,246

11,483

Creditors: Amounts falling due after more than one year

6

(26,587)

(37,500)

Provisions for liabilities

(1,511)

(1,473)

Net assets/(liabilities)

 

148

(27,490)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

147

(27,491)

Shareholders' funds/(deficit)

 

148

(27,490)

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 15 November 2023
 

 

The Cherrycroft Practice Limited

(Registration number: 08385077)
Statement of Financial Position as at 28 February 2023

.........................................
Dr C S Wilson
Director

 

The Cherrycroft Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY, United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure. This includes the Government Coronavirus Job Retention Scheme and Bounce Back Loan Scheme. The Company has not directly benefited from any other forms of government assistance.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Cherrycroft Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fittings fixtures and equipment

25% reducing balance

Leasehold improvements

20% straight line

Computer equipment

25% reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The Cherrycroft Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2022 - 5).

4

Tangible assets

Leasehold improvements
£

Fixtures and fittings
£

Plant and machinery
£

Computer equipment
£

Total
£

Cost or valuation

At 1 March 2022

11,230

6,213

4,073

9,027

30,543

Additions

11,770

1,003

-

-

12,773

Disposals

(11,230)

(1,905)

-

(1,164)

(14,299)

At 28 February 2023

11,770

5,311

4,073

7,863

29,017

Depreciation

At 1 March 2022

11,228

4,062

2,785

4,716

22,791

Charge for the year

2,354

1,011

322

686

4,373

Eliminated on disposal

(11,228)

(1,487)

-

(893)

(13,608)

At 28 February 2023

2,354

3,586

3,107

4,509

13,556

Carrying amount

At 28 February 2023

9,416

1,725

966

3,354

15,461

At 28 February 2022

2

2,151

1,288

4,311

7,752

 

The Cherrycroft Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Debtors

2023
£

2022
£

Trade debtors

34,803

1,013

Other debtors

9,581

7,909

Prepayments

-

789

Accrued income

128,948

117,023

173,332

126,734

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Bank loans and overdrafts

7

10,000

10,000

Trade creditors

 

14,227

21,336

Taxation and social security

 

1,904

1,703

Accruals and deferred income

 

11,615

4,301

Other creditors

 

140,925

86,874

 

178,671

124,214

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Loans and borrowings

7

26,587

37,500

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

26,587

37,500

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

 

The Cherrycroft Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £165,473 (2022 - £23,500).

9

Related party transactions

At the year-end, the company owed the Director £130,026 (2022: £73,045) included within other creditors.