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REGISTERED NUMBER: SC162671 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

CHERRYTREES DEVELOPMENT COMPANY LIMITED

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


CHERRYTREES DEVELOPMENT COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mrs P Devereux
E J H Devereux
Mrs S L J Docherty





SECRETARY: K D Brydon





REGISTERED OFFICE: 11 Gordon Street
Broughty Ferry
Dundee
DD5 2RA





REGISTERED NUMBER: SC162671 (Scotland)





ACCOUNTANTS: J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CHERRYTREES DEVELOPMENT COMPANY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cherrytrees Development Company Limited for the year ended 30 November 2023 which comprise the Profit and Loss, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Cherrytrees Development Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cherrytrees Development Company Limited and state those matters that we have agreed to state to the Board of Directors of Cherrytrees Development Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cherrytrees Development Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cherrytrees Development Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cherrytrees Development Company Limited. You consider that Cherrytrees Development Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cherrytrees Development Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP


23 August 2024

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671)

BALANCE SHEET
30 NOVEMBER 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,905,914 1,929,724

CURRENT ASSETS
Debtors 5 101,527 102,693
Cash at bank 118,600 64,010
220,127 166,703
CREDITORS
Amounts falling due within one year 6 127,516 116,351
NET CURRENT ASSETS 92,611 50,352
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,998,525

1,980,076

CREDITORS
Amounts falling due after more than one year 7 658,556 719,066
NET ASSETS 1,339,969 1,261,010

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Fair value reserve 9 (468,011 ) (444,201 )
Retained earnings 1,307,980 1,205,211
SHAREHOLDERS' FUNDS 1,339,969 1,261,010

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671)

BALANCE SHEET - continued
30 NOVEMBER 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





E J H Devereux - Director


CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Cherrytrees Development Company 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 1,929,724
Revaluations (23,810 )
At 30 November 2023 1,905,914
NET BOOK VALUE
At 30 November 2023 1,905,914
At 30 November 2022 1,929,724

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2015 (304,525 )
Valuation in 2016 (10,100 )
Valuation in 2017 24,100
Valuation in 2018 (7,500 )
Valuation in 2019 (655 )
Valuation in 2020 (145,521 )
Valuation in 2022 (23,810 )
Cost 2,373,925
1,905,914

The property at 16/18 East Port was valued at fair value on 30th November 2023 by Angus Thomson MRICS, a consultant at FT Linden . No valuation of the other properties was carried out at 30th November 2023 as it was considered that the valuation of these properties has not changed from the valuation carried out at 30th November 2022. Had all the properties been valued at cost under the historical cost accounting rules they would be valued at £2,373,925. The overall surplus over cost has been transferred to the fair value reserve. The provision for potential taxation which would arise if the properties were sold at their valuations has been provided in the deferred tax provision.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade debtors 1,833 2,292
Other debtors 99,694 100,401
101,527 102,693

CHERRYTREES DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: SC162671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Taxation and social security 30,716 20,351
Other creditors 96,800 96,000
127,516 116,351

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/11/23 30/11/22
£    £   
Other creditors 658,556 719,066

8. SECURED DEBTS

The Royal Bank of Scotland Plc hold a bond and floating charge over the assets of the company.

9. RESERVES
Fair
value
reserve
£   
At 1 December 2022 (444,201 )
Transfer to retained earnings (23,810 )

At 30 November 2023 (468,011 )