0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,325,000 1,325,000 1,325,000 xbrli:pure xbrli:shares iso4217:GBP 08668246 2023-01-01 2023-12-31 08668246 2023-12-31 08668246 2022-12-31 08668246 2021-09-01 2022-12-31 08668246 2022-12-31 08668246 2021-08-31 08668246 bus:Director1 2023-01-01 2023-12-31 08668246 core:WithinOneYear 2023-12-31 08668246 core:WithinOneYear 2022-12-31 08668246 core:AfterOneYear 2023-12-31 08668246 core:AfterOneYear 2022-12-31 08668246 core:ShareCapital 2023-12-31 08668246 core:ShareCapital 2022-12-31 08668246 core:RevaluationReserve 2023-12-31 08668246 core:RevaluationReserve 2022-12-31 08668246 core:RetainedEarningsAccumulatedLosses 2023-12-31 08668246 core:RetainedEarningsAccumulatedLosses 2022-12-31 08668246 core:LandBuildings 2023-12-31 08668246 core:LandBuildings 2022-12-31 08668246 bus:SmallEntities 2023-01-01 2023-12-31 08668246 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08668246 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08668246 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08668246 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 08668246
Cherry Property Ltd
Filleted Unaudited Financial Statements
31 December 2023
Cherry Property Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
1,325,000
1,325,000
Current assets
Debtors
5
888
Cash at bank and in hand
41,832
24,132
--------
--------
42,720
24,132
Creditors: amounts falling due within one year
6
1,880
3,287
--------
--------
Net current assets
40,840
20,845
------------
------------
Total assets less current liabilities
1,365,840
1,345,845
Creditors: amounts falling due after more than one year
7
6,250
6,250
Provisions
Taxation including deferred tax
147,538
147,538
------------
------------
Net assets
1,212,052
1,192,057
------------
------------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
497,049
497,049
Profit and loss account
715,002
695,007
------------
------------
Shareholders funds
1,212,052
1,192,057
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cherry Property Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 9 July 2024 , and are signed on behalf of the board by:
Mr S Khan
Director
Company registration number: 08668246
Cherry Property Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Redbridge Lane East, Ilford, IG4 5ET.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents rental income receivable. 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. Rental income is recognised on an accrual basis in accordance with the substance of the relevant agreement.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Tangible assets
Land and buildings
£
Cost
At 1 January 2023 and 31 December 2023
1,325,000
------------
Depreciation
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
1,325,000
------------
At 31 December 2022
1,325,000
------------
The company's investment property was revalued on a fair value basis by the director on 31 December 2023.
5. Debtors
2023
2022
£
£
Other debtors
888
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,880
3,287
-------
-------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
6,250
6,250
-------
-------
8. Related party transactions
Debtors falling due within one year include £888 (2022 Nil) owing from associated companies where Mr S Khan is a shareholder and director.