Company registration number 11256917 (England and Wales)
CHERRETT & HOLLISS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
CHERRETT & HOLLISS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CHERRETT & HOLLISS LTD
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1
1
Tangible assets
4
904,266
908,440
904,267
908,441
Current assets
Stocks
10,841
12,861
Debtors
5
1,040
2,180
Cash at bank and in hand
60,222
43,221
72,103
58,262
Creditors: amounts falling due within one year
6
(535,501)
(530,513)
Net current liabilities
(463,398)
(472,251)
Total assets less current liabilities
440,869
436,190
Creditors: amounts falling due after more than one year
7
(286,247)
(305,889)
Provisions for liabilities
(7,182)
(5,455)
Net assets
147,440
124,846
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
147,340
124,746
Total equity
147,440
124,846
CHERRETT & HOLLISS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 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 of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 July 2025 and are signed on its behalf by:
Ms R Cherrett
Mr J  Holliss
Director
Director
Company registration number 11256917 (England and Wales)
CHERRETT & HOLLISS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Cherrett & Holliss Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Cafe On The Green, Widecombe-In-The-Moor, Newton Abbot, Devon, TQ13 7TA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
2% per annum on cost
Plant and equipment
20% on reducing balance
Fixtures and fittings
20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

CHERRETT & HOLLISS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
25
25
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
1
Amortisation and impairment
At 1 April 2024 and 31 March 2025
-
0
Carrying amount
At 31 March 2025
1
At 31 March 2024
1
CHERRETT & HOLLISS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
884,162
74,129
958,291
Additions
-
0
6,817
6,817
At 31 March 2025
884,162
80,946
965,108
Depreciation and impairment
At 1 April 2024
4,430
45,421
49,851
Depreciation charged in the year
4,192
6,799
10,991
At 31 March 2025
8,622
52,220
60,842
Carrying amount
At 31 March 2025
875,540
28,726
904,266
At 31 March 2024
879,732
28,708
908,440
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
1,040
2,180
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
18,750
18,750
Trade creditors
34,875
15,617
Taxation and social security
42,012
34,588
Other creditors
439,864
461,558
535,501
530,513

Bank loans of £11,500 (2024 £11,500) are secured on the assets of the company.

CHERRETT & HOLLISS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
286,247
305,889

Bank loans of £253,033 (2024 £265,428) are secured on the assets of the company.

Creditors which fall due after five years are payable as follows:
2025
2024
£
£
Payable by instalments
211,247
230,889
8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within one year
5,780
5,780
Between two and five years
3,370
9,150
9,150
14,930
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