Cherry Property Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08668246

Cherry Property Ltd

Filleted Unaudited Financial Statements

31 December 2024

Cherry Property Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	4		1,325,000	1,325,000

Current assets

Debtors	5	2,100	888
Cash at bank and in hand		58,456	41,832
		--------	--------
		60,556	42,720

Creditors: amounts falling due within one year	6	2,595		1,880
		--------		--------
Net current assets			57,961	40,840
			------------	------------
Total assets less current liabilities			1,382,961	1,365,840

Creditors: amounts falling due after more than one year	7		6,250	6,250

Provisions

Taxation including deferred tax	147,538	147,538
	------------	------------
Net assets	1,229,173	1,212,052
	------------	------------

Capital and reserves

Called up share capital	1	1
Revaluation reserve	497,049	497,049
Profit and loss account	732,123	715,002
	------------	------------
Shareholders funds	1,229,173	1,212,052
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Cherry Property Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 22 August 2025 , and are signed on behalf of the board by:

Mr S Khan
Director

Company registration number: 08668246

Cherry Property Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Redbridge Lane East, Ilford, IG4 5ET.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents rental income receivable. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Rental income is recognised on an accrual basis in accordance with the substance of the relevant agreement.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 January 2024 and 31 December 2024	1,325,000
	------------
Depreciation
At 1 January 2024 and 31 December 2024	–
	------------
Carrying amount
At 31 December 2024	1,325,000
	------------
At 31 December 2023	1,325,000
	------------

The company's investment property was revalued on a fair value basis by the director on 31 December 2024.

5. Debtors

	2024	2023
	£	£
Other debtors	2,100	888
	-------	----

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Due to associated companies	12	–
Other creditors	2,583	1,880
	-------	-------
	2,595	1,880
	-------	-------

7. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	6,250	6,250
	-------	-------

8. Related party transactions

Creditors falling due within one year include £11 (2023 Debtor £888) owing to associated companies where Mr S Khan is a shareholder and director.