Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-10-0110falseNo description of principal activity10falsetruefalse 09801497 2022-10-01 2023-09-30 09801497 2021-10-01 2022-09-30 09801497 2023-09-30 09801497 2022-09-30 09801497 c:Director1 2022-10-01 2023-09-30 09801497 d:Buildings d:LongLeaseholdAssets 2022-10-01 2023-09-30 09801497 d:Buildings d:LongLeaseholdAssets 2023-09-30 09801497 d:Buildings d:LongLeaseholdAssets 2022-09-30 09801497 d:MotorVehicles 2022-10-01 2023-09-30 09801497 d:MotorVehicles 2023-09-30 09801497 d:MotorVehicles 2022-09-30 09801497 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 09801497 d:FurnitureFittings 2022-10-01 2023-09-30 09801497 d:FurnitureFittings 2023-09-30 09801497 d:FurnitureFittings 2022-09-30 09801497 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 09801497 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 09801497 d:CurrentFinancialInstruments 2023-09-30 09801497 d:CurrentFinancialInstruments 2022-09-30 09801497 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 09801497 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 09801497 d:ShareCapital 2023-09-30 09801497 d:ShareCapital 2022-09-30 09801497 d:RetainedEarningsAccumulatedLosses 2023-09-30 09801497 d:RetainedEarningsAccumulatedLosses 2022-09-30 09801497 c:FRS102 2022-10-01 2023-09-30 09801497 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 09801497 c:FullAccounts 2022-10-01 2023-09-30 09801497 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 09801497 2 2022-10-01 2023-09-30 09801497 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 09801497










CHERRY TREE VETS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
CHERRY TREE VETS LIMITED
REGISTERED NUMBER:09801497

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
181,997
203,236

  
181,997
203,236

Current assets
  

Stocks
  
42,973
53,614

Debtors: amounts falling due within one year
 5 
590,915
348,483

Cash at bank and in hand
  
10,790
45,161

  
644,678
447,258

Creditors: amounts falling due within one year
 6 
(207,903)
(133,188)

Net current assets
  
 
 
436,775
 
 
314,070

Total assets less current liabilities
  
618,772
517,306

Provisions for liabilities
  

Deferred tax
  
(1,746)
(429)

  
 
 
(1,746)
 
 
(429)

Net assets
  
617,026
516,877


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
616,926
516,777

  
617,026
516,877


Page 1

 
CHERRY TREE VETS LIMITED
REGISTERED NUMBER:09801497
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 July 2024.




................................................
Dr M Bouvet
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CHERRY TREE VETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Cherry Tree Vets Limited is a private company limited by shares and incorporated in England and Wales, registration number 09801497.  The registered office is 3 Broad Street, Harleston, IP20 9AZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
CHERRY TREE VETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
CHERRY TREE VETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
nil
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
CHERRY TREE VETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 10).

Page 6

 
CHERRY TREE VETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





L/Term Leasehold Property
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 October 2022
164,968
41,975
40,216
247,159


Additions
-
-
675
675


Disposals
-
(38,382)
-
(38,382)



At 30 September 2023

164,968
3,593
40,891
209,452



Depreciation


At 1 October 2022
-
23,046
20,877
43,923


Charge for the year on owned assets
-
674
5,005
5,679


Disposals
-
(22,147)
-
(22,147)



At 30 September 2023

-
1,573
25,882
27,455



Net book value



At 30 September 2023
164,968
2,020
15,009
181,997



At 30 September 2022
164,968
18,929
19,339
203,236

Page 7

 
CHERRY TREE VETS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
21,535
69,235

Other debtors
510,063
278,023

Called up share capital not paid
100
100

Prepayments and accrued income
361
1,125

Tax recoverable
58,856
-

590,915
348,483



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
58,394
36,873

Corporation tax
110,422
53,043

Other taxation and social security
35,200
39,610

Other creditors
572
710

Accruals and deferred income
3,315
2,952

207,903
133,188



7.


Pension commitments

The company operates a defined contributions pension scheme.  The assets of the scheme are held separately from those of the company in an independently administered fund.  The pension cost charge represents contributions payable by the company to the fund and amounted to £6,009  (2022 - £6,026).


8.


Transactions with directors

Included within other debtors due within one year are loans to the following directors:
Marie Bouvet - Amount advanced during the year was £27,809. Interest on the loan has been charged totalling £2,675 (2022: £0) at a rate of 2.25% .
The balance owed to the company at the year end was £174,387 (2022: £56,516)

 
Page 8