Cherrymount Healthcare Limited iXBRL

Company Registration Number: NI027072

Cherrymount Healthcare Limited

Unaudited Financial Statements

for the financial year ended 28 February 2026

Cherrymount Healthcare Limited

Company Registration Number: NI027072

BALANCE SHEET

as at 28 February 2026

		2026	2025
	Notes	£	£

Fixed Assets

Intangible assets

253,311

Tangible assets

803,678

850,984

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Fixed Assets

803,678

1,104,295

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Current Assets

Stocks

546,422

537,246

Debtors

600,696

628,014

Cash and cash equivalents

627,221

425,881

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1,774,339

1,591,141

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Creditors: amounts falling due within one year

(2,680,707)

(1,795,353)

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Net Current Liabilities

(906,368)

(204,212)

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Total Assets less Current Liabilities

(102,690)

900,083

Creditors:

amounts falling due after more than one year	9	-	(887,790)

Provisions for liabilities	10	(31,369)	(39,137)

Government grants	12	(8,276)	(10,372)
		─────────	─────────
Net Liabilities		(142,335)	(37,216)
		═════════	═════════

Capital and Reserves

Called up share capital

Retained earnings

(142,341)

(37,222)

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Equity attributable to owners of the company

(142,335)

(37,216)

═════════

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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 30 July 2026 and signed on its behalf by




________________________________
Mr. Sheelin McKeagney
Director

Cherrymount Healthcare Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 28 February 2026

General Information

Cherrymount Healthcare Limited is private company limited by shares incorporated in Northern Ireland. The principle place of business and registered office is 10 Edward Street, Lurgan, Craigavon, Co Armagh, BT66 6DB. The Financial statements are presented in pounds sterling (£) which is also the functional currency of the company. The company registeration number is NI027072.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 28 February 2026 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Revenue is recognised upon customer receipt.

Goodwill

Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 20 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.

Tangible assets and depreciation

Tangible assets are stated at cost less accumulated depreciation. The charge to depreciation is calculated to write off the original cost of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Land and buildings freehold

2% Straight line

Fixtures, fittings and equipment

20% Reducing Balance

Motor vehicles

20% Reducing Balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Government grants

Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.

Pensions

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Profit and Loss Account in the period to which they relate.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including directors, during the financial year was 42, (2025 - 47).

2026

2025

Number

Number

Employees

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4.	Intangible assets

		Goodwill	Total
		£	£
	Cost
	At 1 March 2025	5,601,039	5,601,039
		─────────	─────────

	At 28 February 2026	5,601,039	5,601,039
		─────────	─────────
	Amortisation
	At 1 March 2025	5,347,728	5,347,728
	Charge for financial year	253,311	253,311
		─────────	─────────
	At 28 February 2026	5,601,039	5,601,039
		─────────	─────────
	Net book value
	At 28 February 2026	-	-
		═════════	═════════
	At 28 February 2025	253,311	253,311
		═════════	═════════


5.	Tangible assets
		Land and	Fixtures,	Motor	Total
		buildings	fittings and	vehicles
		freehold	equipment
		£	£	£	£
	Cost
	At 1 March 2025	756,000	352,050	60,600	1,168,650
	Additions	-	425	-	425
		─────────	─────────	─────────	─────────
	At 28 February 2026	756,000	352,475	60,600	1,169,075
		─────────	─────────	─────────	─────────
	Depreciation
	At 1 March 2025	67,760	212,454	37,452	317,666
	Charge for the financial year	15,120	27,983	4,628	47,731
		─────────	─────────	─────────	─────────
	At 28 February 2026	82,880	240,437	42,080	365,397
		─────────	─────────	─────────	─────────
	Net book value
	At 28 February 2026	673,120	112,038	18,520	803,678
		═════════	═════════	═════════	═════════
	At 28 February 2025	688,240	139,596	23,148	850,984
		═════════	═════════	═════════	═════════


6.	Stocks	2026	2025
		£	£

	Finished goods and goods for resale	546,422	537,246
		═════════	═════════

	The replacement cost of stock did not differ significantly from the figures shown.


7.	Debtors	2026	2025
		£	£

	Trade debtors	458,312	472,528
	Other debtors	69,898	75,657
	Taxation	46,245	40,222
	Prepayments and accrued income	26,241	39,607
		─────────	─────────
		600,696	628,014
		═════════	═════════

Creditors

2026

2025

Amounts falling due within one year

Bank overdrafts

971,582

Bank loan

202,291

Trade creditors

977,863

852,231

Amounts owed to connected parties (Note 14)

191,391

201,334

Taxation

73,495

15,963

Directors' current accounts

359,690

434,895

Other creditors

27,464

5,154

Accruals

79,222

83,485

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2,680,707

1,795,353

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Bank Loans are secured by:

1. A first and only all monies Debenture in favour of the Bank over all the Borrower(s) property, assets and undertaking.

2. A first and only legal mortgage over the properties situated at:

10 Edward Street, Lurgan, Co Armagh, BT66 6DB

5 John Mitchell Place, Newry, Co Down, BT34 2BP

7 Church Street, Portadown, Co Armagh, BT62 3LG


9.	Creditors	2026	2025
	Amounts falling due after more than one year	£	£

	Bank loan	-	887,790
		═════════	═════════

	Loans
	Repayable in one year or less, or on demand (Note 8)	971,582	202,291
	Repayable between one and two years	-	207,984
	Repayable between two and five years	-	435,966
	Repayable in five years or more	-	243,840
		─────────	─────────
		971,582	1,090,081
		═════════	═════════

10.

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Capital

Total

Total

allowances

2026

2025

At financial year start

39,137

39,137

36,194

Charged to profit and loss

(7,768)

(7,768)

2,943

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At financial year end

31,369

39,137

═════════

11.

Pension costs - defined contribution

The company operates a defined contribution pension scheme in respect of the employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to (£29,798) (2025 - £29,438).


12.	Government Grants Deferred	2026	2025
		£	£

	Capital grants received and receivable
	At 1 March 2025	10,748	328
	Increase in financial year	-	10,420
		─────────	─────────

	At 28 February 2026	10,748	10,748
		─────────	─────────
	Amortisation
	At 1 March 2025	(376)	(274)
	Amortised in financial year	(2,096)	(102)
		─────────	─────────

	At 28 February 2026	(2,472)	(376)
		─────────	─────────
	Net book value
	At 28 February 2026	8,276	10,372
		═════════	═════════
	At 1 March 2025	10,372	54
		═════════	═════════

13.

Capital commitments

The company had no material capital commitments at the financial year ended 29 February 2026.

14.

Related party transactions

The following amounts are due to other connected parties:

2026

2025

Cherrymount Properties Limited

191,391

201,334

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Mr. Sheelin McKeagney is a director of both Cherrymount Healthcare Limited and Cherrymount Properties Limited.

15.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.