Registered number: 13589785 (England and Wales)
CHERRY VENTURES ADVISORS UK LTD
UNAUDITED
DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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CHERRY VENTURES ADVISORS UK LTD
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COMPANY INFORMATION
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ZEDRA Corporate Reporting Services (UK) Limited
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CHERRY VENTURES ADVISORS UK LTD
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CONTENTS
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Notes to the Financial Statements
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CHERRY VENTURES ADVISORS UK LTD
REGISTERED NUMBER:13589785
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BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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CHERRY VENTURES ADVISORS UK LTD
REGISTERED NUMBER:13589785
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BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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CHERRY VENTURES ADVISORS UK LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The Company's functional and presentational currency is Pounds Sterling (GBP).
The following principal accounting policies have been applied:
The Company is in a net asset position supported by amounts owed by group undertakings. Despite this postition, due to the Company's business model being solely a transfer pricing arrangement with the parent company, Cherry Ventures Management GmbH, it is reliant upon the continued support of that company in order to remain a going concern.
The Company has received written confirmation from Cherry Ventures Management GmbH that it will continue to provide financial support to the Company for a period of at least 12 months from the date of signing these financial statements. For this reason, the director continues to adopt the going concern basis in preparing the financial statements.
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Rendering of services
Turnover is recognised on a cost plus 7.5% basis, in line with the intercompany service agreement with the parent company. Intercompany turnover is recognised when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the Company will receive the consideration due under the intercompany service agreement;
∙the costs incurred under the intercompany service agreement can be measured reliably.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Interest income is recognised in profit or loss using the effective interest method.
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CHERRY VENTURES ADVISORS UK LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Short term debtors are measured at transaction price, less any impairment. Amounts owed by group undertakings are intercompany loans measured at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions.
Short term creditors are measured at the transaction price and subsequently amortised cost using the effective interest method.
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The average monthly number of employees, including directors, during the year was 8 (2023 - 6).
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CHERRY VENTURES ADVISORS UK LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Due after more than one year
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Other debtors in the comparative figufres have been reanalysed to better reflect the nature of the receivable balance. Other debtors falling due after more than one year comprise of rental deposit of £35,000. The lease is due to expire on 30 June 2026.
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Amounts owed by group undertakings
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Called up share capital not paid
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Other creditors in the comparative figures with a value of £30,541 have been split out in other taxation and social security to better reflect the nature of the account.
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CHERRY VENTURES ADVISORS UK LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Commitments under operating leases
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At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than one year and not later than five years
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Cherry Ventures Management GmbH is the parent company of the smallest group for which the financial statements are drawn up which the Company is a member. The registered office of the parent company is: Linienstrasse 214, Berlin, 10119, Germany.
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Post balance sheet events
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There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date that these financial statements were signed.
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