Silverfin false false 31/03/2024 01/10/2023 31/03/2024 Mrs K D Cherry 13/09/2022 Mr P J Cherry 13/09/2022 02 September 2024 The principal activity of the company during the year was that of furnished holiday accommodation. 14352690 2024-03-31 14352690 bus:Director1 2024-03-31 14352690 bus:Director2 2024-03-31 14352690 2023-09-30 14352690 core:CurrentFinancialInstruments 2024-03-31 14352690 core:CurrentFinancialInstruments 2023-09-30 14352690 core:ShareCapital 2024-03-31 14352690 core:ShareCapital 2023-09-30 14352690 core:RetainedEarningsAccumulatedLosses 2024-03-31 14352690 core:RetainedEarningsAccumulatedLosses 2023-09-30 14352690 core:LeaseholdImprovements 2023-09-30 14352690 core:LeaseholdImprovements 2024-03-31 14352690 bus:OrdinaryShareClass1 2024-03-31 14352690 2023-10-01 2024-03-31 14352690 bus:FilletedAccounts 2023-10-01 2024-03-31 14352690 bus:SmallEntities 2023-10-01 2024-03-31 14352690 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-03-31 14352690 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-03-31 14352690 bus:Director1 2023-10-01 2024-03-31 14352690 bus:Director2 2023-10-01 2024-03-31 14352690 core:LeaseholdImprovements core:TopRangeValue 2023-10-01 2024-03-31 14352690 2022-09-13 2023-09-30 14352690 core:LeaseholdImprovements 2023-10-01 2024-03-31 14352690 bus:OrdinaryShareClass1 2023-10-01 2024-03-31 14352690 bus:OrdinaryShareClass1 2022-09-13 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14352690 (England and Wales)

K&P CHERRY LIMITED

Unaudited Financial Statements
For the financial period from 01 October 2023 to 31 March 2024
Pages for filing with the registrar

K&P CHERRY LIMITED

Unaudited Financial Statements

For the financial period from 01 October 2023 to 31 March 2024

Contents

K&P CHERRY LIMITED

COMPANY INFORMATION

For the financial period from 01 October 2023 to 31 March 2024
K&P CHERRY LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 October 2023 to 31 March 2024
DIRECTORS Mrs K D Cherry
Mr P J Cherry
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
BUSINESS ADDRESS Damson Cottage
Withiel
Bodmin
Cornwall
PL30 5NR
COMPANY NUMBER 14352690 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
K&P CHERRY LIMITED

BALANCE SHEET

As at 31 March 2024
K&P CHERRY LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 30.09.2023
£ £
Fixed assets
Tangible assets 3 17,451 0
17,451 0
Current assets
Debtors 4 15,184 23,224
Cash at bank and in hand 49,350 31,866
64,534 55,090
Creditors: amounts falling due within one year 5 ( 16,100) ( 12,400)
Net current assets 48,434 42,690
Total assets less current liabilities 65,885 42,690
Provision for liabilities ( 3,300) 0
Net assets 62,585 42,690
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 62,485 42,590
Total shareholders' funds 62,585 42,690

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of K&P Cherry Limited (registered number: 14352690) were approved and authorised for issue by the Board of Directors on 02 September 2024. They were signed on its behalf by:

Mrs K D Cherry
Director
K&P CHERRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2023 to 31 March 2024
K&P CHERRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

K&P Cherry Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Damson Cottage, Withiel, Bodmin, Cornwall, PL30 5NR.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The company has prepared accounts to 31 March 2024 in order to move the year end to a quieter trading time of year. The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Rentals under operating leases are charged to the profit or loss on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
01.10.2023 to
31.03.2024
Period from
13.09.2022 to
30.09.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 0 0

3. Tangible assets

Leasehold improve-
ments
Total
£ £
Cost
At 01 October 2023 0 0
Additions 18,370 18,370
At 31 March 2024 18,370 18,370
Accumulated depreciation
At 01 October 2023 0 0
Charge for the financial period 919 919
At 31 March 2024 919 919
Net book value
At 31 March 2024 17,451 17,451
At 30 September 2023 0 0

4. Debtors

31.03.2024 30.09.2023
£ £
Trade debtors 904 0
Other debtors 14,280 23,224
15,184 23,224

5. Creditors: amounts falling due within one year

31.03.2024 30.09.2023
£ £
Accruals 4,700 2,400
Corporation tax 11,400 10,000
16,100 12,400

6. Called-up share capital

31.03.2024 30.09.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Financial commitments

Other financial commitments

The total amount of financial commitments not included in the balance sheet is £35,700 (2023: £40,800).

8. Related party transactions

Other related party transactions

31.03.2024 30.09.2023
£ £
Opening balance 6,756 0
Amounts advanced to directors 395 41,185
Amounts repaid by the directors (5,296) (34,487)
Interest charged 56 58
Closing balance 1,911 6,756

The above loan is unsecured and repayable on demand. Interest has been charged on this balance in line with actual official rate of interest.