Registered number
10012039
Cherry Blossom Properties Limited
Unaudited Filleted Accounts
28 February 2023
Cherry Blossom Properties Limited
Registered number: 10012039
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,076,123 1,076,123
Current assets
Debtors 4 2,492 2,492
Cash at bank and in hand 101,057 95,813
103,549 98,305
Creditors: amounts falling due within one year 5 (21,904) (10,729)
Net current assets 81,645 87,576
Total assets less current liabilities 1,157,768 1,163,699
Creditors: amounts falling due after more than one year 6 (1,100,403) (1,118,403)
Net assets 57,365 45,296
Capital and reserves
Called up share capital 100 100
Profit and loss account 57,265 45,196
Shareholders' funds 57,365 45,296
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.
D J Kalms
Director
Approved by the board on 23 November 2023
Cherry Blossom Properties Limited
Notes to the Accounts
for the year ended 28 February 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold and Leasehold land and buildings not depreciated
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2022 1,076,123
At 28 February 2023 1,076,123
Depreciation
At 28 February 2023 -
Net book value
At 28 February 2023 1,076,123
At 28 February 2022 1,076,123
4 Debtors 2023 2022
£ £
Other debtors 2,492 2,492
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 2,919 3,760
Other creditors 18,985 6,969
21,904 10,729
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 573,195 573,195
Other creditors 527,208 545,208
1,100,403 1,118,403
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 573,195 573,195
The bank loans are secured by floating charges over all of the company's properties.
8 Related party transactions
Included within other creditors falling due after more than one year amounts are interest free loans due to the directors of:
Amount due to D E Kalms £262,869 (28/02/2022 - £271,869)
Amount due to D J Kalms £264,339 (28/02/2022 - £273,339).
9 Other information
Cherry Blossom Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
18 Eleanor Crescent
London
NW7 1AH
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