Three Cherries Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03779503 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2019

FOR

THREE CHERRIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I S Vicker

Mr I R Birkett

Mr P G Holdom

REGISTERED OFFICE:

The Stables

Clevedon Hall Estate

Victoria Road

Clevedon

BS21 7SJ

REGISTERED NUMBER:

03779503 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Intangible assets

4

10,000

15,000

Tangible assets

5

3,640

4,301

13,640

19,301

CURRENT ASSETS

Stocks

6

37,998

5,163

Debtors

7

261,533

225,223

Cash at bank

203,711

460,146

503,242

690,532

CREDITORS

Amounts falling due within one year

8

242,028

243,005

NET CURRENT ASSETS

261,214

447,527

TOTAL ASSETS LESS CURRENT LIABILITIES

274,854

466,828

PROVISIONS FOR LIABILITIES

546

-

NET ASSETS

274,308

466,828

CAPITAL AND RESERVES

Called up share capital

9

225

300

Capital redemption reserve

10

75

-

Retained earnings

10

274,008

466,528

SHAREHOLDERS' FUNDS

274,308

466,828

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 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 on 24 September 2019 and were signed on its behalf by:

Mr I S Vicker - Director

Mr I R Birkett - Director

Mr P G Holdom - Director

1.	STATUTORY INFORMATION

Three Cherries Limited is a private company, limited by shares , registered in England and

Wales. 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

The turnover shown in the profit and loss account represents amounts invoiced during the

year, exclusive of Value Added Tax.

In respect of long term contracts and contracts for on-going services, turnover represents

the value of work done in the year, including estimates of amounts not invoiced. Turnover in

respect of long-term contracts and contracts for on-going services is recognised by

reference to the stage of completion.

Amortisation

Amortisation is calculated to write off the cost of the purchased goodwill over its estimated

useful life of 10 years on a straight line basis.

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.

Fixtures and fittings

-

25% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2018 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2018

and 31 May 2019

50,000

AMORTISATION

At 1 June 2018

35,000

Charge for year

5,000

At 31 May 2019

40,000

NET BOOK VALUE

At 31 May 2019

10,000

At 31 May 2018

15,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2018

and 31 May 2019

23,940

DEPRECIATION

At 1 June 2018

19,639

Charge for year

661

At 31 May 2019

20,300

NET BOOK VALUE

At 31 May 2019

3,640

At 31 May 2018

4,301

6.

STOCKS

31.5.19

31.5.18

£

£

Stocks

37,998

5,163

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

189,830

146,355

Directors' current accounts

29,822

30,000

Prepayments and accrued income

41,881

48,868

261,533

225,223

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade creditors

61,570

55,653

Tax

59,707

56,908

Social security and other taxes

6,752

12,497

VAT

34,076

40,604

Other creditors

1,852

3,420

Accruals and deferred income

78,071

73,923

242,028

243,005

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.19

31.5.18

value:

£

£

225

Ordinary

£1

225

300

During the year the company purchased and cancelled 75 of its Ordinary £1 shares. These

belonged to Leslie Stewart Burdett who resigned as a director of Three Cherries Limited on

2nd July 2018.

10.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 June 2018

466,528

-

466,528

Profit for the year

253,172

253,172

Dividends

(85,692

)

(85,692

)

Purchase of own shares

(360,000

)

75

(359,925

)

At 31 May 2019

274,008

75

274,083

11.	RELATED PARTY DISCLOSURES

At the year end the directors owed the company the following amounts under short term

interest free loans, which were repaid on the 1st June 2019:

£10,000 Mr I Birkett (2018 £10,000)

£9,911 Mr I Vicker (2018 £10,000)

£9,911 Mr P Holdom (2018 £10,000)

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party