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REGISTERED NUMBER: SC592381 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

CHERRYBANK EDINBURGH LIMITED

CHERRYBANK EDINBURGH LIMITED (REGISTERED NUMBER: SC592381)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHERRYBANK EDINBURGH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Dr E M M Halley
M J Skimming
Ms L Wilson





REGISTERED OFFICE: Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC592381 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

CHERRYBANK EDINBURGH LIMITED (REGISTERED NUMBER: SC592381)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 65,077 88,045
Tangible assets 5 64,950 41,907
130,027 129,952

CURRENT ASSETS
Debtors 6 185,571 52,360
Cash at bank and in hand 202,094 255,714
387,665 308,074
CREDITORS
Amounts falling due within one year 7 177,133 191,724
NET CURRENT ASSETS 210,532 116,350
TOTAL ASSETS LESS CURRENT
LIABILITIES

340,559

246,302

CREDITORS
Amounts falling due after more than one
year

8

(60,000

)

(106,666

)

PROVISIONS FOR LIABILITIES (12,340 ) (7,962 )
NET ASSETS 268,219 131,674

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 268,119 131,574
268,219 131,674

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CHERRYBANK EDINBURGH LIMITED (REGISTERED NUMBER: SC592381)

BALANCE SHEET - continued
31 MAY 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 Board of Directors and authorised for issue on 8 December 2023 and were signed on its behalf by:





M J Skimming - Director


CHERRYBANK EDINBURGH LIMITED (REGISTERED NUMBER: SC592381)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Cherrybank Edinburgh Limited is a private company, limited by shares , registered in Scotland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on a straight line basis
Computer equipment - 25% on a straight line basis

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

CHERRYBANK EDINBURGH LIMITED (REGISTERED NUMBER: SC592381)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 114,841
AMORTISATION
At 1 June 2022 26,796
Charge for year 22,968
At 31 May 2023 49,764
NET BOOK VALUE
At 31 May 2023 65,077
At 31 May 2022 88,045

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 June 2022 94,365 16,435 110,800
Additions 46,249 4,350 50,599
At 31 May 2023 140,614 20,785 161,399
DEPRECIATION
At 1 June 2022 59,933 8,960 68,893
Charge for year 22,734 4,822 27,556
At 31 May 2023 82,667 13,782 96,449
NET BOOK VALUE
At 31 May 2023 57,947 7,003 64,950
At 31 May 2022 34,432 7,475 41,907

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 119,063 27,892
Other debtors 66,508 24,468
185,571 52,360

CHERRYBANK EDINBURGH LIMITED (REGISTERED NUMBER: SC592381)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 34,675 35,558
Trade creditors 44,924 66,096
Amounts owed to associates 9,125 9,125
Taxation and social security 66,310 59,476
Other creditors 22,099 21,469
177,133 191,724

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 60,000 90,000
Other creditors - 16,666
60,000 106,666