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No description of principal activity
2022-11-01
Sage Accounts Production Advanced 2023 - FRS102_2023
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xbrli:shares
iso4217:GBP
07825221
2022-11-01
2023-10-31
07825221
2023-10-31
07825221
2022-10-31
07825221
2021-11-01
2022-10-31
07825221
2022-10-31
07825221
2021-10-31
07825221
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2022-11-01
2023-10-31
07825221
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2022-11-01
2023-10-31
07825221
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2022-11-01
2023-10-31
07825221
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2023-10-31
07825221
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2022-10-31
07825221
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2023-10-31
07825221
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2022-10-31
07825221
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2023-10-31
07825221
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2022-10-31
07825221
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2023-10-31
07825221
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2022-10-31
07825221
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2023-10-31
07825221
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2022-10-31
07825221
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2023-10-31
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2023-10-31
07825221
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2022-11-01
2023-10-31
07825221
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2022-11-01
2023-10-31
07825221
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2022-11-01
2023-10-31
07825221
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2022-11-01
2023-10-31
STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS |
|
All of the members of Cherry Tree Homes (GB) Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
07825221
CHERRY TREE HOMES (GB) LIMITED |
|
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS |
|
CHERRY TREE HOMES (GB) LIMITED |
|
REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF
CHERRY TREE HOMES (GB) LIMITED |
|
YEAR ENDED 31 OCTOBER 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Cherry Tree Homes (GB) Limited for the year ended 31 October 2023, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
LANGARD LIFFORD HALL LIMITED
Accountants and Registered Auditors
Lifford Hall
Lifford Lane
Kings Norton
Birmingham
B30 3JN
29 July 2024
CHERRY TREE HOMES (GB) LIMITED |
|
ABRIDGED STATEMENT OF FINANCIAL POSITION |
|
31 October 2023
Fixed assets
Tangible assets |
5 |
|
2,572,222 |
|
2,575,794 |
|
|
|
|
|
|
Current assets
Stocks |
198,004 |
|
163,853 |
|
Debtors |
2,975 |
|
– |
|
Cash at bank and in hand |
25,827 |
|
36,028 |
|
|
------------ |
|
------------ |
|
|
226,806 |
|
199,881 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
560,870 |
|
580,799 |
|
|
------------ |
|
------------ |
|
Net current liabilities |
|
334,064 |
|
380,918 |
|
|
-------------- |
|
-------------- |
Total assets less current liabilities |
|
2,238,158 |
|
2,194,876 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
6 |
|
437,000 |
|
521,000 |
|
|
|
|
|
|
Provisions |
|
208,031 |
|
208,031 |
|
|
-------------- |
|
-------------- |
Net assets |
|
1,593,127 |
|
1,465,845 |
|
|
-------------- |
|
-------------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
|
100 |
Revaluation reserve |
|
742,315 |
|
742,315 |
Profit and loss account |
|
850,712 |
|
723,430 |
|
|
-------------- |
|
-------------- |
Shareholders funds |
|
1,593,127 |
|
1,465,845 |
|
|
-------------- |
|
-------------- |
|
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
CHERRY TREE HOMES (GB) LIMITED |
|
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued) |
|
31 October 2023
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
29 July 2024
, and are signed on behalf of the board by:
Company registration number:
07825221
CHERRY TREE HOMES (GB) LIMITED |
|
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS |
|
YEAR ENDED 31 OCTOBER 2023
1.
General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Badger Hills, Main Road, Beelsby, Grimsby, South Humberside, DN37 0TN.
2.
Statement of Compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting Policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises of fees received for letting of bespoke student accommodation, together with income from non-term time holiday lettings and sales of any land held for development purposes, net of any applicable sales taxes. Income is recognised on a receivable basis.
Income tax
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 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
25% straight line |
|
Equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stock comprises of land acquired for potential development and is valued at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee Numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
2
).
5.
Tangible Assets
|
£ |
Cost |
|
At 1 November 2022 and 31 October 2023 |
2,591,594 |
|
-------------- |
Depreciation |
|
At 1 November 2022 |
15,800 |
Charge for the year |
3,572 |
|
-------------- |
At 31 October 2023 |
19,372 |
|
-------------- |
Carrying amount |
|
At 31 October 2023 |
2,572,222 |
|
-------------- |
At 31 October 2022 |
2,575,794 |
|
-------------- |
|
|
6.
Creditors:
amounts falling due after more than one year
Included within creditors: amounts falling due after more than one year is an amount of £101,000 (2022: £185,000) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.