Registered number
13871447
Cherry Meadow Properties Ltd
Filleted Accounts
31 January 2024
Cherry Meadow Properties Ltd
Registered number: 13871447
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,172 -
Investments 4 563,000 456,394
573,172 456,394
Current assets
Cash at bank and in hand 562 8,260
Creditors: amounts falling due within one year 6 (530,384) (415,355)
Net current liabilities (529,822) (407,095)
Total assets less current liabilities 43,350 49,299
Provisions for liabilities (10,206) (9,886)
Net assets 33,144 39,413
Capital and reserves
Called up share capital 120 120
Profit and loss account 33,024 39,293
Shareholders' funds 33,144 39,413
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs R L Horrocks
Director
Approved by the board on 30 October 2024
Cherry Meadow Properties Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from rental of investment properties. Turnover from the rental of investment properties is recognised when the rental income is falling due and not when it is paid.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment over 5 years
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 11,478
At 31 January 2024 11,478
Depreciation
Charge for the year 1,306
At 31 January 2024 1,306
Net book value
At 31 January 2024 10,172
4 Investments
Other
investments
£
Cost
At 1 February 2023 456,394
Additions 95,693
Revaluation 10,913
At 31 January 2024 563,000
75 Aintree Avenue was revalued at £140,000 (£130,000 in 2023), 64 The Oval at £75,000 (£75,000 in 2023) and 94 Warmsworth Road at £120,000 (£120,000). 37 Craithie Road was revalued at £228,000 on 31 January 2024 by the director. In 2023 this was valued at £220,000, however the valuation should have been £131,394 and this is part of the prior year adjustments, along with the deferred tax, in these financial statements. The director has good knowledge of the area and her estimates are based on values of similar properties on the market.
5 Investments held as current assets 2024 2023
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments 10,913 57,229
6 Creditors: amounts falling due within one year 2024 2023
£ £
Directors loan account 125,550 122,715
Accruals 1,334 1,340
Other creditors 403,500 291,300
530,384 415,355
7 Other information
Cherry Meadow Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Analysis House
117 - 119 Sea Road
Sunderland
England
SR6 9EQ
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