Cherrywell Property Limited 10716001 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Investment in land and property Digita Accounts Production Advanced 6.30.9574.0 true 10716001 2023-06-01 2024-05-31 10716001 2024-05-31 10716001 core:CurrentFinancialInstruments 2024-05-31 10716001 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 10716001 bus:SmallEntities 2023-06-01 2024-05-31 10716001 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 10716001 bus:FilletedAccounts 2023-06-01 2024-05-31 10716001 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10716001 bus:RegisteredOffice 2023-06-01 2024-05-31 10716001 bus:Director1 2023-06-01 2024-05-31 10716001 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10716001 countries:EnglandWales 2023-06-01 2024-05-31 10716001 2023-05-31 10716001 2022-06-01 2023-05-31 10716001 2023-05-31 10716001 core:CurrentFinancialInstruments 2023-05-31 10716001 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 10716001

Cherrywell Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Cherrywell Property Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 3

 

Cherrywell Property Limited

(Registration number: 10716001)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

40,000

40,000

Current assets

 

Debtors

5

279

280

Creditors: Amounts falling due within one year

6

(6,809)

(5,854)

Net current liabilities

 

(6,530)

(5,574)

Net assets

 

33,470

34,426

Capital and reserves

 

Called up share capital

40,000

40,000

Retained earnings

(6,530)

(5,574)

Shareholders' funds

 

33,470

34,426

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

.........................................
L Mackenzie
Director

 

Cherrywell Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Arches Amport
Andover
Hampshire
SP11 8BE
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Cherrywell Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Investment properties

2024
£

At 1 June

40,000

At 31 May

40,000


The property was acquired by way of a dividend in specie as part of larger re-orgnisation on 30th May 2017. As part of that transaction consideration was given to the market value of the property, and the directors did not consider anything material had occured to give rise to a change in value. £40,000 is also considered to be the Market Value at 31st May 2024. As a result no adjustment to fair value is required under FRS102.

5

Debtors

2024
£

2023
£

Prepayments

279

280

279

280

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

6,809

5,854

7

Related party transactions

Other transactions with directors

At the period end date, the company owed key management personnel £4,048 (2023 - £2,733 ).