Registered number: SC667800
CHERRY BLOSSOM CHILDREN'S RESIDENTIAL HOME LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
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CHERRY BLOSSOM CHILDREN'S RESIDENTIAL HOME LTD
COMPANY INFORMATION
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CHERRY BLOSSOM CHILDREN'S RESIDENTIAL HOME LTD
REGISTERED NUMBER: SC667800
STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024
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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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Creditors: amounts falling due after more than one year
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CHERRY BLOSSOM CHILDREN'S RESIDENTIAL HOME LTD
REGISTERED NUMBER: SC667800
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024
The directors consider 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 directors acknowledge their 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 income and retained earnings 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 on 3 April 2025.
The notes on pages 3 to 7 form part of these financial statements.
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CHERRY BLOSSOM CHILDREN'S RESIDENTIAL HOME LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Cherry Blossom Children’s Residential Home Limited is a private company, limited by shares, incorporated in Scotland with registration number SC667800. The registered office is Ardennan, Stuartfield, Peterhead, Scotland, AB42 5HR.
The Company`s functional and presentational cuurency is GBP.
2.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 following principal accounting policies have been applied:
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract 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 contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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CHERRY BLOSSOM CHILDREN'S RESIDENTIAL HOME LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
2.ACCOUNTING POLICIES (CONTINUED)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
No depreciation has been provided on the land and property and property improvements as the directors are of the opinion that the property concerned is maintained to a high standard through a programme of refurbishment and maintenance. As a consequence, the life of the property and its residual value is such that any depreciation change would be immaterial.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was 12 (2023 - 12).
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CHERRY BLOSSOM CHILDREN'S RESIDENTIAL HOME LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
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Charge for the year on owned assets
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Charge for the year on owned assets
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CHERRY BLOSSOM CHILDREN'S RESIDENTIAL HOME LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
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Net obligations under finance leases and hire purchase contracts
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ALLOTTED, CALLED UP AND FULLY PAID
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100 (2023 - 100) Ordinary shares shares of £1.00 each
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CHERRY BLOSSOM CHILDREN'S RESIDENTIAL HOME LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
9.TRANSACTIONS WITH DIRECTORS
Included in other debtors is a loan due from the directors, Mr and Mrs Simmers. The amount due to the company at 31 July 2024 is £24,326. The loan balance is repyable on demand and interest is charged at 2.25%.
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