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REGISTERED NUMBER: 05435700 (England and Wales)








Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30 June 2024

for

Cherish UK Limited

Cherish UK Limited (Registered number: 05435700)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 8

Balance Sheet 9

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 14


Cherish UK Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs W M Watson
P Watson





SECRETARY: Mrs W M Watson





REGISTERED OFFICE: 8 Skyways Commercial Campus
Amy Johnson Way
Blackpool
FY4 3RS





REGISTERED NUMBER: 05435700 (England and Wales)





AUDITORS: Crossley & Davis Chartered Accountants
Ground Floor Seneca House
Links Point
Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

Cherish UK Limited (Registered number: 05435700)

Strategic Report
for the Year Ended 30 June 2024

The directors present their strategic report for the year ended 30 June 2024.

REVIEW OF BUSINESS
The principal activity of the Company is the provision of care services.
The Company considers its financial KPI's to be Turnover, Gross Profit and Operating profit.

For the year ending 30 June 2024 the Company achieved a turnover of £18,034,047 (2023 :£14,212,457), an increase of £3,821,590 (27%). This is a result of contract wins and new services starting alongside continued organic growth.

For the year ending 30 June 2024 the gross profit margin for the company was 22%, (2023: 23%), a decrease of 1%. The company has achieved a gross profit of £3,983,216 (2023 3,291,951), an increase of £ 691,265. The increase in gross profit is attributable to an increase in turnover.

For the year ending 30 June 2024 the company achieved an operating profit of £1,635,556 (2023 £1,164,443), an increase of £471,113 This is a result of increased turnover and a close control of costs..

PRINCIPAL RISKS AND UNCERTAINTIES
The Company financial results are influenced by a number of risks and uncertainties, some of which cannot be controlled, and management are looking to mitigate these risks.

The company has identified the following as potential financial risks.
- CQC downgrades. The company's is regulated by CQC. If any branch or service was downgraded from 'Good' this could limit future work opportunities and growth, contract suspension or cancellation is not viewed as a risk due to over demand in the market. All Cherish Group branches are currently rated as Good or higher and performance management in this regard is constantly monitored.

ON BEHALF OF THE BOARD:





P Watson - Director


27 March 2025

Cherish UK Limited (Registered number: 05435700)

Report of the Directors
for the Year Ended 30 June 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of provision of care services.

DIVIDENDS
Interim dividends per share on the Ordinary 'A' shares £1 shares were paid as follows:
10800 - 27 March 2024
730080 - 30 June 2024
740880

The directors recommend that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary 'B' shares £1 shares. The directors recommend that no final dividend be paid on these shares.

The total distribution of dividends for the year ended 30 June 2024 will be £ 740,880 .

FUTURE DEVELOPMENTS
Demand is continuing to grow in all of the market areas we operate in and we view this as sustainable in the medium and long term. In Cherish UK we will continue to build up newer contracts, tender for suitable opportunities and are planning to increase our presence in the privately paid market. In Childrens Care we are planning 2 more home openings within the next financial year as this service aims for continued high growth.
Our Group Senior Management Team is fully in place with each having measurable targets to achieve in the coming year. We have also initiated and delivered a high-level Branch Leadership Programme as we continue to invest highly in our employees. The Group will also continue to support a minimum pay level above the real living wage despite the pressures from additional minimum pay thresholds and higher NI costs, this is a challenge for all companies working in the social care sector

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Mrs W M Watson
P Watson

FINANCIAL INSTRUMENTS
The group's principal financial instrument are loans and corporate finance arrangements. The main purpose of the financial instruments is to raise finance for the group's operations. The group has various other financial instruments such as trade debtors and trade creditors, which arise directly from its operations.

The main risks arising from the group's financial instruments are credit risk, interest risk and liquidity risk.

Credit Risk
The group considers its customer credit risk to be low due to the cash nature of the business. The group operates under normal credit terms determined by its suppliers.

Interest rate risk
The group is subject to interest risk on borrowings.

Liquidity & cash flow risk
The group's objective is to maintain a balance between continuity of funding through the use of loans facilities and its operations.

DISABLED PERSONS
The directors endeavour to ensure as far as possible the training, career development and promotion of disabled persons is the same as for other employees. Should employees become disabled, every effort is made to ensure that their employment continues, and appropriate retraining is received.

Cherish UK Limited (Registered number: 05435700)

Report of the Directors
for the Year Ended 30 June 2024


ENGAGEMENT WITH EMPLOYEES

Regular meetings with employees' representatives are held to inform them of the development of the business. The Group is committed to improving its participative and consultative arrangements with all employees.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Crossley & Davis Chartered Accountants, were reappointed at the company's annual general meeting. A resolution to reappoint them will be proposed at the forthcoming annual general meeting.

ON BEHALF OF THE BOARD:





Mrs W M Watson - Director


27 March 2025

Report of the Independent Auditors to the Members of
Cherish UK Limited

Opinion
We have audited the financial statements of Cherish UK Limited (the 'company') for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Cherish UK Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the entity and the industry in which it operates, and considered the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Cherish UK Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr P Swarbrick (Senior Statutory Auditor)
for and on behalf of Crossley & Davis Chartered Accountants
Ground Floor Seneca House
Links Point
Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

27 March 2025

Cherish UK Limited (Registered number: 05435700)

Statement of Income and Retained Earnings
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

TURNOVER 18,034,047 14,212,457

Cost of sales 14,050,831 10,920,506
GROSS PROFIT 3,983,216 3,291,951

Administrative expenses 2,453,266 2,230,332
1,529,950 1,061,619

Other operating income 3 105,606 102,824
OPERATING PROFIT 5 1,635,556 1,164,443

Interest receivable and similar income 761 1,493
1,636,317 1,165,936

Interest payable and similar expenses 7 120,336 121,245
PROFIT BEFORE TAXATION 1,515,981 1,044,691

Tax on profit 8 391,181 217,708
PROFIT FOR THE FINANCIAL YEAR 1,124,800 826,983

Retained earnings at beginning of year 2,867,478 2,896,535

Dividends 9 (740,880 ) (856,040 )

RETAINED EARNINGS AT END OF
YEAR

3,251,398

2,867,478

Cherish UK Limited (Registered number: 05435700)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 890,411 899,731
Investments 11 114 114
890,525 899,845

CURRENT ASSETS
Debtors 12 4,130,853 3,695,648
Cash at bank and in hand 1,112,486 730,595
5,243,339 4,426,243
CREDITORS
Amounts falling due within one year 13 2,554,748 2,075,837
NET CURRENT ASSETS 2,688,591 2,350,406
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,579,116

3,250,251

CREDITORS
Amounts falling due after more than one
year

14

327,608

382,663
NET ASSETS 3,251,508 2,867,588

CAPITAL AND RESERVES
Called up share capital 18 110 110
Retained earnings 19 3,251,398 2,867,478
SHAREHOLDERS' FUNDS 3,251,508 2,867,588

Cherish UK Limited (Registered number: 05435700)

Balance Sheet - continued
30 June 2024


The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





P Watson - Director


Cherish UK Limited (Registered number: 05435700)

Cash Flow Statement
for the Year Ended 30 June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,413,579 1,543,911
Interest paid (120,336 ) (121,245 )
Tax paid (131,944 ) (348,160 )
Net cash from operating activities 1,161,299 1,074,506

Cash flows from investing activities
Purchase of tangible fixed assets (45,922 ) (57,467 )
Sale of tangible fixed assets 1,565 -
Interest received 761 1,493
Net cash from investing activities (43,596 ) (55,974 )

Cash flows from financing activities
Loan repayments in year (48,997 ) (48,462 )
Amount introduced by directors 3,345 138,185
Equity dividends paid (740,880 ) (856,040 )
Net cash from financing activities (786,532 ) (766,317 )

Increase in cash and cash equivalents 331,171 252,215
Cash and cash equivalents at beginning of
year

2

307,164

54,949

Cash and cash equivalents at end of year 2 638,335 307,164

Cherish UK Limited (Registered number: 05435700)

Notes to the Cash Flow Statement
for the Year Ended 30 June 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,515,981 1,044,691
Depreciation charges 52,042 52,990
Loss on disposal of fixed assets 1,635 -
Finance costs 120,336 121,245
Finance income (761 ) (1,493 )
1,689,233 1,217,433
Increase in trade and other debtors (437,175 ) (232,491 )
Increase in trade and other creditors 161,521 558,969
Cash generated from operations 1,413,579 1,543,911

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 1,112,486 730,595
Bank overdrafts (474,151 ) (423,431 )
638,335 307,164
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 730,595 866,628
Bank overdrafts (423,431 ) (811,679 )
307,164 54,949


Cherish UK Limited (Registered number: 05435700)

Notes to the Cash Flow Statement
for the Year Ended 30 June 2024

3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 730,595 381,891 1,112,486
Bank overdrafts (423,431 ) (50,720 ) (474,151 )
307,164 331,171 638,335
Debt
Debts falling due within 1 year (42,940 ) (6,058 ) (48,998 )
Debts falling due after 1 year (382,663 ) 55,055 (327,608 )
(425,603 ) 48,997 (376,606 )
Total (118,439 ) 380,168 261,729

Cherish UK Limited (Registered number: 05435700)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Cherish UK 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Under section 382(2) of the Companies Act 2006 the company qualifies as a medium company for this financial year.

Preparation of consolidated financial statements
The company has taken exemption from preparing group accounts as it is included in consolidated accounts of Cherish Holdings Limited which are drawn up as audited consolidated accounts and filed at Companies House.


The parent of the largest and smallest group in which these financial statements are consolidated is Cherish Holdings Limited, incorporated in England and Wales.

The address of Cherish Holdings Limited is:
19 Park Street
Lytham St. Annes
Lancashire
United Kingdom,
FY8 5LU

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

A full year's depreciation is charged in the year of purchase.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Cherish UK Limited (Registered number: 05435700)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The following assets and liabilities are classified as financial instruments -trade debtors, trade creditors, bank loans and directors' loans.

Bank Loans are initially measured at the present value of future payments,
discounted at a market rate of interest, and subsequently at amortised cost
using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

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.

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
Rentals paid under operating leases are charged to profit or loss 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. OTHER OPERATING INCOME
2024 2023
£    £   
Rents received 83,850 72,250
Grant income 21,756 30,574
105,606 102,824

Cherish UK Limited (Registered number: 05435700)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 14,880,202 11,696,196
Other pension costs 203,823 167,097
15,084,025 11,863,293

The average number of employees during the year was as follows:
2024 2023

Management and administration 40 35
Direct labour 634 558
674 593

2024 2023
£    £   
Directors' remuneration 35,686 19,500

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Other operating leases 182,903 148,552
Depreciation - owned assets 52,042 52,989
Loss on disposal of fixed assets 1,635 -

6. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

16,000

13,700

The company entered into a liability limitation agreement with the auditor on 2 March 2023. The liability of the auditor in respect of any claim or claims made by the company is limited to £4,000,000 inclusive of interest and costs.'

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 33,104 28,375
Other interest - 1,840
Funding charges 87,232 91,030
120,336 121,245

Cherish UK Limited (Registered number: 05435700)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 389,211 251,875

Deferred tax 1,970 (34,167 )
Tax on profit 391,181 217,708

UK corporation tax has been charged at 25% (2023 - 20.50%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,515,981 1,044,691
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 20.500%)

378,995

214,162

Effects of:
Expenses not deductible for tax purposes 6,971 5,450
Depreciation in excess of capital allowances 5,686 3,747
Adjustments to tax charge in respect of previous periods (471 ) -
Timing difference in deferred tax rates - (5,651 )
Total tax charge 391,181 217,708

9. DIVIDENDS
2024 2023
£    £   
Ordinary 'A' shares shares of £1 each
Interim 740,880 856,040

Cherish UK Limited (Registered number: 05435700)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and Motor
property leasehold fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 846,110 30,084 130,465 75,475 1,082,134
Additions - 27,756 4,596 13,570 45,922
Disposals - - - (7,585 ) (7,585 )
At 30 June 2024 846,110 57,840 135,061 81,460 1,120,471
DEPRECIATION
At 1 July 2023 60,998 14,642 72,155 34,608 182,403
Charge for year 16,922 5,784 15,727 13,609 52,042
Eliminated on disposal - - - (4,385 ) (4,385 )
At 30 June 2024 77,920 20,426 87,882 43,832 230,060
NET BOOK VALUE
At 30 June 2024 768,190 37,414 47,179 37,628 890,411
At 30 June 2023 785,112 15,442 58,310 40,867 899,731

11. FIXED ASSET INVESTMENTS
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 110 4 114
NET BOOK VALUE
At 30 June 2024 110 4 114
At 30 June 2023 110 4 114

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Cherish Childrens Care Ltd
Registered office: 8 Skyways Commercial Campus,Amy Johnson Way,Blackpool FY4 3RS
Nature of business: Provision of residential services for children
%
Class of shares: holding
Ordinary 100.00

The company acquired 100 ordinary shares of £1 each in Cherish Childrens Care Ltd on 14 November 2014.
The consideration was the issue of 10 ordinary shares in the company.

Cherish Lancashire Limited
Registered office: 17/19 Park Street, Lytham St Annes, FY8 5LU
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Cherish UK Limited (Registered number: 05435700)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,302,176 1,308,728
Amounts owed by group undertakings 579,344 288,250
Other debtors 2,118,381 1,969,307
Deferred tax asset 23,163 25,133
Prepayments 107,789 104,230
4,130,853 3,695,648

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 523,149 466,371
Trade creditors 20,879 52,882
Amounts owed to group undertakings 748,019 677,735
Tax 393,445 136,178
Social security and other taxes 220,755 177,992
Other creditors 107,412 134,923
Directors' loan accounts 4,653 1,308
Accruals and deferred income 536,436 428,448
2,554,748 2,075,837

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 15) 327,608 382,663

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 474,151 423,431
Bank loans 48,998 42,940
523,149 466,371

Amounts falling due between one and two years:
Bank loans - 1-2 years 48,998 42,940

Amounts falling due between two and five years:
Bank loans - 2-5 years 146,993 128,819

Amounts falling due in more than five years:

Cherish UK Limited (Registered number: 05435700)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

15. LOANS - continued
2024 2023
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 131,617 210,904

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 376,606 425,603
Commercial finance 474,151 423,431
850,757 849,034

Lloyds have debentures, secured by way of fixed and floating charges over all of the property or undertaking of the company.

17. DEFERRED TAX
£   
Balance at 1 July 2023 (25,133 )
Charge to Income Statement during year 1,970
Balance at 30 June 2024 (23,163 )

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
108 Ordinary 'A' shares £1 108 108
2 Ordinary 'B' shares £1 2 2
110 110

The ordinary 'A' shares are entitled to voting rights, dividends and a share of capital on winding up. The ordinary 'B' shares are entitled to voting rights only.

19. RESERVES
Retained
earnings
£   

At 1 July 2023 2,867,478
Profit for the year 1,124,800
Dividends (740,880 )
At 30 June 2024 3,251,398

Cherish UK Limited (Registered number: 05435700)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

20. ULTIMATE PARENT COMPANY

Cherish Holdings Limited is regarded by the directors as being the company's ultimate parent company.

21. OTHER FINANCIAL COMMITMENTS

The company had total commitments under operating leases as follows :-
due within one year £90,000
due within two to five years £120,000
due after five years £ 70,000

22. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mrs W M Watson and P Watson
Balance outstanding at start of year (1,308 ) 136,877
Amounts advanced 706,755 717,855
Amounts repaid (710,100 ) (856,040 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,653 ) (1,308 )

Interest at the official rate has been charged on the average balance outstanding on the directors loan
during the year.
The directors loan is repayable on demand.

23. RELATED PARTY DISCLOSURES

Included in Debtors (amounts due within one year) are the following amounts:-
Loans to Companies under common control £2,039,452. Advances of £135,703 were made in the year.


These amounts are interest free and repayable on demand.

During the year, a total of key management personnel compensation of £ 35,686 was paid.