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Registered number: 09345500
CHERRYTREE (WANTAGE) LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
Ortu Advisors Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09345500
2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 130,000 195,000
Tangible Assets 5 170,876 161,950
300,876 356,950
CURRENT ASSETS
Stocks 6 5,000 5,000
Debtors 7 2,088,741 1,235,088
Cash at bank and in hand 262,443 443,052
2,356,184 1,683,140
Creditors: Amounts Falling Due Within One Year 8 (377,940 ) (341,286 )
NET CURRENT ASSETS (LIABILITIES) 1,978,244 1,341,854
TOTAL ASSETS LESS CURRENT LIABILITIES 2,279,120 1,698,804
Creditors: Amounts Falling Due After More Than One Year 9 (531,271 ) (389,592 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (26,379 ) (30,831 )
NET ASSETS 1,721,470 1,278,381
CAPITAL AND RESERVES
Called up share capital 11 150 150
Profit and Loss Account 1,721,320 1,278,231
SHAREHOLDERS' FUNDS 1,721,470 1,278,381
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Niall Hutchinson
Director
Mrs Miriam Hutchinson
Director
22/02/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
CHERRYTREE (WANTAGE) LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 09345500 . The registered office is C/O Landmark House Station Road, Cheadle Hulme, Cheadle, Greater Manchester, SK8 7BS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% on cost
Leasehold None
Plant & Machinery 20% on cost
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% on cost
Computer Equipment 20% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 11)
11 11
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 650,000
As at 31 December 2023 650,000
Amortisation
As at 1 January 2023 455,000
Provided during the period 65,000
As at 31 December 2023 520,000
Net Book Value
As at 31 December 2023 130,000
As at 1 January 2023 195,000
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 63,390 56,767 51,990 473,353
Additions - 51,171 - 1,911
As at 31 December 2023 63,390 107,938 51,990 475,264
...CONTINUED
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Depreciation
As at 1 January 2023 - 15,593 24,933 460,031
Provided during the period - 21,588 6,764 13,704
As at 31 December 2023 - 37,181 31,697 473,735
Net Book Value
As at 31 December 2023 63,390 70,757 20,293 1,529
As at 1 January 2023 63,390 41,174 27,057 13,322
Computer Equipment Total
£ £
Cost
As at 1 January 2023 36,901 682,401
Additions 6,600 59,682
As at 31 December 2023 43,501 742,083
Depreciation
As at 1 January 2023 19,894 520,451
Provided during the period 8,700 50,756
As at 31 December 2023 28,594 571,207
Net Book Value
As at 31 December 2023 14,907 170,876
As at 1 January 2023 17,007 161,950
6. Stocks
2023 2022
as restated
£ £
Materials 5,000 5,000
7. Debtors
2023 2022
as restated
£ £
Due within one year
Prepayments and accrued income 81 969
81 969
Due after more than one year
Trade debtors 29,860 16,060
Amounts owed by associates 2,058,800 1,218,059
2,088,660 1,234,119
2,088,741 1,235,088
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
£ £
Net obligations under finance lease and hire purchase contracts 20,946 29,023
Trade creditors 44,157 33,804
Bank loans and overdrafts 37,791 37,791
Corporation tax 175,657 121,956
Other taxes and social security 3,393 1,731
Other creditors 6,703 19,363
Pension payable 844 309
Accruals and deferred income 82,032 88,098
Directors' loan accounts 6,417 9,211
377,940 341,286
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
as restated
£ £
Net obligations under finance lease and hire purchase contracts 181,000 -
Bank loans 350,271 389,592
531,271 389,592
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
as restated
£ £
The future minimum finance lease payments are as follows:
Not later than one year 20,946 29,023
Later than one year and not later than five years 181,000 -
201,946 29,023
201,946 29,023
11. Share Capital
2023 2022
as restated
£ £
Allotted, Called up and fully paid 150 150
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