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Registered number: 04479342
Cherrybell Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04479342
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,044 -
Tangible Assets 5 52,930 58,208
55,974 58,208
CURRENT ASSETS
Debtors 6 1,350 1,614
Cash at bank and in hand 158,484 190,641
159,834 192,255
Creditors: Amounts Falling Due Within One Year 7 (150,324 ) (110,786 )
NET CURRENT ASSETS (LIABILITIES) 9,510 81,469
TOTAL ASSETS LESS CURRENT LIABILITIES 65,484 139,677
Creditors: Amounts Falling Due After More Than One Year 8 (10,993 ) (40,191 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (10,637 ) (11,061 )
NET ASSETS 43,854 88,425
CAPITAL AND RESERVES
Called up share capital 11 4 4
Profit and Loss Account 43,850 88,421
SHAREHOLDERS' FUNDS 43,854 88,425
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Nadezda Raitchev
Director
28/04/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cherrybell Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04479342 . The registered office is 93 Robin Hood Way, London, SW15 3QE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Over 8 years
Fixtures & Fittings Over 3 Years
Computer Equipment Over 3 Years
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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Page 4
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
4. Intangible Assets
Other
£
Cost
As at 1 August 2023 -
Additions 3,321
As at 31 July 2024 3,321
Amortisation
As at 1 August 2023 -
Provided during the period 277
As at 31 July 2024 277
Net Book Value
As at 31 July 2024 3,044
As at 1 August 2023 -
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Page 5
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 159,136 4,768 3,044 166,948
Additions 14,411 898 - 15,309
As at 31 July 2024 173,547 5,666 3,044 182,257
Depreciation
As at 1 August 2023 102,650 4,233 1,857 108,740
Provided during the period 19,070 556 961 20,587
As at 31 July 2024 121,720 4,789 2,818 129,327
Net Book Value
As at 31 July 2024 51,827 877 226 52,930
As at 1 August 2023 56,486 535 1,187 58,208
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,350 1,112
Net wages - 502
1,350 1,614
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 18,458 7,420
Trade creditors 13,872 9,349
Bank loans and overdrafts 12,476 9,991
Corporation tax 161 -
Other taxes and social security 1,714 10,904
Other creditors 5,325 278
Accruals and deferred income 3,060 3,060
Directors' loan accounts 95,258 69,784
150,324 110,786
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 18,550
Bank loans 10,993 21,641
10,993 40,191
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 18,458 7,420
Later than one year and not later than five years - 18,550
18,458 25,970
18,458 25,970
10. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
2024 2023
£ £
Other timing differences 10,637 11,061
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
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