IRIS Accounts Production v24.2.0.383 SC313258 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3132582023-03-31SC3132582024-03-31SC3132582023-04-012024-03-31SC3132582022-03-31SC3132582022-04-012023-03-31SC3132582023-03-31SC313258ns15:Scotland2023-04-012024-03-31SC313258ns14:PoundSterling2023-04-012024-03-31SC313258ns10:Director12023-04-012024-03-31SC313258ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC313258ns10:SmallEntities2023-04-012024-03-31SC313258ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC313258ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC313258ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC313258ns10:FullAccounts2023-04-012024-03-31SC31325812023-04-012024-03-31SC313258ns10:Director22023-04-012024-03-31SC313258ns10:RegisteredOffice2023-04-012024-03-31SC313258ns5:CurrentFinancialInstruments2024-03-31SC313258ns5:CurrentFinancialInstruments2023-03-31SC313258ns5:Non-currentFinancialInstruments2024-03-31SC313258ns5:Non-currentFinancialInstruments2023-03-31SC313258ns5:ShareCapital2024-03-31SC313258ns5:ShareCapital2023-03-31SC313258ns5:RetainedEarningsAccumulatedLosses2024-03-31SC313258ns5:RetainedEarningsAccumulatedLosses2023-03-31SC313258ns5:NetGoodwill2023-04-012024-03-31SC313258ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31SC313258ns5:LandBuildings2023-04-012024-03-31SC313258ns5:PlantMachinery2023-04-012024-03-31SC313258ns5:NetGoodwill2023-03-31SC313258ns5:NetGoodwill2024-03-31SC313258ns5:NetGoodwill2023-03-31SC313258ns5:LandBuildings2023-03-31SC313258ns5:PlantMachinery2023-03-31SC313258ns5:LandBuildings2024-03-31SC313258ns5:PlantMachinery2024-03-31SC313258ns5:LandBuildings2023-03-31SC313258ns5:PlantMachinery2023-03-31
REGISTERED NUMBER: SC313258 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Cheers Group Limited

Cheers Group Limited (Registered number: SC313258)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cheers Group Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M W Hay
Mrs S E Hay





REGISTERED OFFICE: Wallaceneuk Farm
Kelso
Roxburghshire
TD5 8JW





REGISTERED NUMBER: SC313258 (Scotland)





ACCOUNTANTS: Advantage Accounting (Scotland) Ltd
Pavilion 2
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU

Cheers Group Limited (Registered number: SC313258)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 41,295 55,045
Tangible assets 5 696,418 689,530
737,713 744,575

CURRENT ASSETS
Stocks 22,155 21,780
Cash at bank and in hand 111,760 173,541
133,915 195,321
CREDITORS
Amounts falling due within one year 6 112,088 127,608
NET CURRENT ASSETS 21,827 67,713
TOTAL ASSETS LESS CURRENT
LIABILITIES

759,540

812,288

CREDITORS
Amounts falling due after more than one
year

7

481,226

519,187
NET ASSETS 278,314 293,101

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 278,312 293,099
SHAREHOLDERS' FUNDS 278,314 293,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Cheers Group Limited (Registered number: SC313258)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





M W Hay - Director


Cheers Group Limited (Registered number: SC313258)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Cheers Group Limited is a private company, limited by shares , registered in Scotland. 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing balance and 5% on cost

Depreciation on freehold property has not been provided for as it is the directors opinion that the properties will retain their value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Current or deferred 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.


Cheers Group Limited (Registered number: SC313258)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

These interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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 36 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 275,000
AMORTISATION
At 1 April 2023 219,955
Charge for year 13,750
At 31 March 2024 233,705
NET BOOK VALUE
At 31 March 2024 41,295
At 31 March 2023 55,045

Cheers Group Limited (Registered number: SC313258)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 623,500 269,391 892,891
Additions - 28,480 28,480
Disposals - (44,606 ) (44,606 )
At 31 March 2024 623,500 253,265 876,765
DEPRECIATION
At 1 April 2023 21,199 182,162 203,361
Charge for year - 16,732 16,732
Eliminated on disposal - (39,746 ) (39,746 )
At 31 March 2024 21,199 159,148 180,347
NET BOOK VALUE
At 31 March 2024 602,301 94,117 696,418
At 31 March 2023 602,301 87,229 689,530

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 25,560 24,970
Trade creditors 42,830 61,316
Taxation and social security 37,829 35,254
Other creditors 5,869 6,068
112,088 127,608

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 74,471 101,109
Other creditors 406,755 418,078
481,226 519,187

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 7,589