Accounts filed on 31-12-2014


Registered number: 08240787






Cherry Mortgage & Finance Ltd


ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31/12/2014
























Prepared By:
Brookes Butler Limited
Chartered Certified Accountants
1125 Christchurch Road
Bournemouth
Dorset
BH7 6BQ


ABBREVIATED ACCOUNTS


FOR THE YEAR ENDED 31/12/2014

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		3



The company's registered number is 08240787


Registered Number: 08240787

BALANCE SHEET AT 31/12/2014

			2014		2013
	Notes		£		£

FIXED ASSETS
Tangible assets	2		4,016		2,279

CURRENT ASSETS
Debtors (amounts falling due within one year)	3	1,212		560
Cash at bank and in hand		9,796		2,763
		11,008		3,323
CREDITORS: Amounts falling due within one year		12,600		3,946
NET CURRENT LIABILITIES			(1,592)		(623)
TOTAL ASSETS LESS CURRENT LIABILITIES			2,424		1,656


PROVISIONS FOR LIABILITIES			1,939		1,000

NET ASSETS			485		656

CAPITAL AND RESERVES

Called up share capital	4		100		100
Profit and loss account			385		556
SHAREHOLDERS' FUNDS			485		656

For the year ending 31/12/2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board on 30/09/2015 and signed on their behalf by




Mr M D Fleming-Duffy
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).




1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008).




1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and Fittings		reducing balance 15%
Equipment		reducing balance 25%




1d. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.




1e. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.




1f. Provisions And Contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable outflow of economic benefits to settle the obligation. Otherwise, material contingent liabilities are disclosed unless the outflow of economic benefits is remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.




3. DEBTORS	2014	2013
	£	£

Amounts falling due within one year:
Other debtors	1,212	560
	1,212	560




4. SHARE CAPITAL	2014	2013
	£	£
Allotted, issued and fully paid:
100 Ordinary shares of £1 each	100	100
	100	100




5. RELATED PARTY TRANSACTIONS
Mr M D Fleming-Duffy was the sole director of the company during the year. Included in Other creditors is £5,887 (2013: £517) owing to Mr M D Fleming-Duffy in respect of his directors loan account.