REGISTERED NUMBER: SC313258 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Cheers Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M W Hay

Mrs S E Hay

REGISTERED OFFICE:

Wallaceneuk Farm

Kelso

Roxburghshire

TD5 8JW

REGISTERED NUMBER:

SC313258 (Scotland)

ACCOUNTANTS:

Advantage Accounting (Scotland) Ltd

Pavilion 2

Finnieston Business Park

Minerva Way

Glasgow

G3 8AU

FIXED ASSETS

Intangible assets

4

27,545

41,295

Tangible assets

5

757,223

696,418

784,768

737,713

CURRENT ASSETS

Stocks

21,180

22,155

Cash at bank and in hand

33,347

111,760

54,527

133,915

CREDITORS

Amounts falling due within one year

6

117,056

112,088

NET CURRENT (LIABILITIES)/ASSETS

(62,529

)

21,827

TOTAL ASSETS LESS CURRENT LIABILITIES

722,239

759,540

CREDITORS

Amounts falling due after more than one year

7

459,244

481,226

NET ASSETS

262,995

278,314

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

262,993

278,312

SHAREHOLDERS' FUNDS

262,995

278,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2025 and were signed on its behalf by:

M W Hay - Director

1.	STATUTORY INFORMATION

Cheers Group Limited is a private company, limited by shares , registered in Scotland. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost, 25% on reducing balance, 15% on reducing balance and 5% on cost

Depreciation on freehold property has not been provided for as it is the directors opinion that the properties will retain their value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

These interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2024 - 36 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

275,000

AMORTISATION

At 1 April 2024

233,705

Charge for year

13,750

At 31 March 2025

247,455

NET BOOK VALUE

At 31 March 2025

27,545

At 31 March 2024

41,295

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

623,500

253,265

876,765

Additions

-

92,822

92,822

At 31 March 2025

623,500

346,087

969,587

DEPRECIATION

At 1 April 2024

21,199

159,148

180,347

Charge for year

-

32,017

32,017

At 31 March 2025

21,199

191,165

212,364

NET BOOK VALUE

At 31 March 2025

602,301

154,922

757,223

At 31 March 2024

602,301

94,117

696,418

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

27,995

25,560

Hire purchase contracts

6,413

-

Trade creditors

32,660

42,830

Taxation and social security

40,292

37,829

Other creditors

9,696

5,869

117,056

112,088

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

46,043

74,471

Hire purchase contracts

13,894

-

Other creditors

399,307

406,755

459,244

481,226