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REGISTERED NUMBER: 05031058 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

CHERRYS COUNTRY HARDWARE LIMITED

CHERRYS COUNTRY HARDWARE LIMITED (REGISTERED NUMBER: 05031058)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHERRYS COUNTRY HARDWARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: P A Cherry
A A Cherry
C C Cherry
E J Cherry





SECRETARY: A A Cherry





REGISTERED OFFICE: Main Street
North Frodingham
Driffield
East Yorkshire
YO25 8JU





REGISTERED NUMBER: 05031058 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

CHERRYS COUNTRY HARDWARE LIMITED (REGISTERED NUMBER: 05031058)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 301,487 237,996

CURRENT ASSETS
Stocks 499,618 478,649
Debtors 5 212,993 296,319
Cash at bank and in hand 30,492 119,454
743,103 894,422
CREDITORS
Amounts falling due within one year 6 700,585 864,690
NET CURRENT ASSETS 42,518 29,732
TOTAL ASSETS LESS CURRENT
LIABILITIES

344,005

267,728

CREDITORS
Amounts falling due after more than one
year

7

(133,866

)

(42,146

)

PROVISIONS FOR LIABILITIES (64,469 ) (45,641 )
NET ASSETS 145,670 179,941

CAPITAL AND RESERVES
Called up share capital 9 100,100 100,100
Retained earnings 45,570 79,841
SHAREHOLDERS' FUNDS 145,670 179,941

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

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

CHERRYS COUNTRY HARDWARE LIMITED (REGISTERED NUMBER: 05031058)

BALANCE SHEET - continued
30 SEPTEMBER 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 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 6 February 2025 and were signed on its behalf by:




A A Cherry - Director P A Cherry - Director




C C Cherry - Director E J Cherry - Director


CHERRYS COUNTRY HARDWARE LIMITED (REGISTERED NUMBER: 05031058)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Cherrys Country Hardware 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.

Turnover
Turnover represents net invoiced sales of machinery, fuel and farm equipment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 5% on reducing balance

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 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 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.

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.

The interest element of these obligations is charged to statement of income and retained earnings over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to statement of income and retained earnings on a straight line basis over the period of the lease.

CHERRYS COUNTRY HARDWARE LIMITED (REGISTERED NUMBER: 05031058)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company has implemented automatic enrolment into a workplace pension scheme in relation to all employees.

All contributions payable for the year are charged to statement of income and retained earnings in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 756,144
Additions 132,262
Disposals (65,000 )
At 30 September 2024 823,406
DEPRECIATION
At 1 October 2023 518,148
Charge for year 55,802
Eliminated on disposal (52,031 )
At 30 September 2024 521,919
NET BOOK VALUE
At 30 September 2024 301,487
At 30 September 2023 237,996

The net book value of tangible fixed assets includes £136,261 (2023 - £48,890) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 192,758 283,545
Other debtors 20,235 12,774
212,993 296,319

CHERRYS COUNTRY HARDWARE LIMITED (REGISTERED NUMBER: 05031058)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 258,409 228,566
Hire purchase contracts 40,169 23,845
Trade creditors 342,533 387,863
Taxation and social security 18,775 87,028
Other creditors 40,699 137,388
700,585 864,690

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 12,199 28,701
Hire purchase contracts 77,859 13,445
Other creditors 43,808 -
133,866 42,146

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank overdrafts 236,791 203,074
Bank loans 33,817 54,193
Hire purchase contracts 118,028 37,290
388,636 294,557

CHERRYS COUNTRY HARDWARE LIMITED (REGISTERED NUMBER: 05031058)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
NIL Ordinary £1 - 100,100
(30.9.23 -
100,100 )
30,030 A £1 30,030 -
(30.9.23 - NIL)
30,030 B £1 30,030 -
(30.9.23 - NIL)
20,020 C £1 20,020 -
(30.9.23 - NIL)
20,020 D £1 20,020 -
(30.9.23 - NIL)
100,100 100,100

Allotted and issued:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
30,030 A shares £1 30,030 -
(30.9.23 - NIL)
30,030 B shares £1 30,030 -
(30.9.23 - NIL)
20,020 C shares £1 20,020 -
(30.9.23 - NIL)
20,020 D shares £1 20,020 -
(30.9.23 - NIL)
100,100 -