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REGISTERED NUMBER: 10285129 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2023

FOR

CHERRYWOOD REFURBISHMENTS LIMITED

CHERRYWOOD REFURBISHMENTS LIMITED (REGISTERED NUMBER: 10285129)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHERRYWOOD REFURBISHMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 DECEMBER 2023







DIRECTORS: J P Sales
S Weekes





REGISTERED OFFICE: Unit 4
Priory Wharf
Priory Street
Hertford
Hertfordshire
SG14 1RJ





REGISTERED NUMBER: 10285129 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

CHERRYWOOD REFURBISHMENTS LIMITED (REGISTERED NUMBER: 10285129)

BALANCE SHEET
30 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 106,459 102,372

CURRENT ASSETS
Debtors 5 1,691,305 1,915,767
Cash at bank and in hand 562,745 493,727
2,254,050 2,409,494
CREDITORS
Amounts falling due within one year 6 1,331,373 1,221,656
NET CURRENT ASSETS 922,677 1,187,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,029,136

1,290,210

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings 1,029,037 1,290,111
1,029,136 1,290,210

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

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

CHERRYWOOD REFURBISHMENTS LIMITED (REGISTERED NUMBER: 10285129)

BALANCE SHEET - continued
30 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:




J P Sales - Director



S Weekes - Director


CHERRYWOOD REFURBISHMENTS LIMITED (REGISTERED NUMBER: 10285129)

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

1. STATUTORY INFORMATION

Cherrywood Refurbishments Limited is a private company, limited by shares , registered in England and Wales. 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.

Going Concern
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Further, the directors continue to support the company by way of director funding and have not indicated that such support will be withdrawn in the foreseeable future. Therefore the financial statements for the year ended 30th December 2023 have been prepared using the going concern basis of accounting.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Financial instruments
The director considers all financial instruments to be basic financial instruments in accordance with section 11 of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CHERRYWOOD REFURBISHMENTS LIMITED (REGISTERED NUMBER: 10285129)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 December 2022 170,138
Additions 41,762
Disposals (12,244 )
At 30 December 2023 199,656
DEPRECIATION
At 31 December 2022 67,766
Charge for year 37,675
Eliminated on disposal (12,244 )
At 30 December 2023 93,197
NET BOOK VALUE
At 30 December 2023 106,459
At 30 December 2022 102,372

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 812,482 645,985
Other debtors 878,823 1,269,782
1,691,305 1,915,767

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 640,948 362,041
Taxation and social security 508,613 488,888
Other creditors 181,812 370,727
1,331,373 1,221,656

7. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and other financial commitments at the balance sheet date of £44,708 (2022 - £59,208) in respect of property leases.

CHERRYWOOD REFURBISHMENTS LIMITED (REGISTERED NUMBER: 10285129)

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

8. RELATED PARTY DISCLOSURES

During the current period the directors/shareholders repaid £450,000 of advances. At the year end there were outstanding advances to the directors/shareholders totalling £540,000 interest is charged on outstanding advances at 2.25%.