Charity Reglstration Nth 232351
CHERRYfREE
UNAUDITED ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

CHERRYTREE
LEGAL AND ADMINISTRATNE INFORMATION
Trustees
Steve Walker (Chair}
Aan Brown
Jon Dunn
John Fuller
jani￿ Hixjle
Liz Murray
Jon Smith
Lynne Urpeth
Charity number
2>2351
Independent examiner
Sutton McGrath Ha
5 Weslbrook Court
Sharn)w Vale Road
Sheffield
S118YZ
Banke
Royal Bank of Scotland plc
5 Chur¢h Street
Sheffield
S1 IHE
Investfflent advisors
Investec Weatlh & Invesbment (UK)
8￿h House
61 Napier StT*t
Sheffield
S118HA

CHERRYTREE
CONTENTS
Trustees, report
Independent examinefs report
Statement of financial aclrlities
Balartt sheet
Note5 to the accounts
7-18

CHERRYTREE
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Introduction
The Trustees present tsr report and accounts forthe yearerth 31 December 2023. The accounts have been
prepared in accordan￿ wth the accounting Folws set out in note 1 to the accounts and comply with the
charity's trust deed. the Charitses Act 2011 and "ACC(￿nting and Reporting by Charitses: Statement of
Recommended Pr￿lICe applv2bie to charities iYeparin9 their w)unts in accordan￿ wrth the Fir)ancial
Reporting Standard applK3ble in the UK and Republ￿ of IrdaNJ (FRS 102) (effe¢trve 1 January 20151..
Objectives and acb¥iiies
The objectives of Cherrytree are to provKle and SUPFQrt to hoff*s young people be￿een
the ages of 16 and 21. with the intenbon of enatling them to re-establtsh their INes and a(4uire their own
accomnK￿aIloTr %￿lh the skills arKI ¢))nfvje￿ to ffwintain it.
The ¢harty a¢hieves these obFthves by suppoitng the work of Cherrytree SupFxJrt servi￿ Limited (CSS)
through the provision of the home, land and offices on Mthy Lane and finanual support. The Trustees are
s*"sfied that CSS has achievej ils Ot¥"ectNes for the year. and thatthe grants paid have been used exclusively
for promoting the Charitable objects of Cherrytree. In particular. the chanty extended ils fijnding of the Home &
Health Worker employed by CSS. continuing to 31 March 2026.
The Trustees rwnise their res[￿s1￿.1￿ in ensuring that the organisation c#)ntinues to provide a service of
public benefft and to this end refer to Charity Commission guhyelines on this mailer.
A¢hiev•ments and perfornwKe
The charity made gTants of£64,981 to CSS durin9 the year. I[￿]Ud￿￿ contributions towards the cost of a project
worker, a counsellor, residents. entertainl￿nt and the home & health worker. The chanty also paid CSS £50,000
during the year to help overcome cash difficulties
During the year, therewas a dpxrease of£45,222 in the value ofinvestnEnts held by the charity. This ¢￿mpriSed
net gains of £14,778 less sales of £60.WO to facilitate the support given to CSS. The inveStn￿ts are subje
to ongoing review to make sure that the portfolio remains surtable. resulting in maintenance of the long-temi
investment time horizon of over ten years and the medium r￿k profile. The Trustees believe that the balan￿d
investrnent ob]￿l¥e suits the charity's arcum5tances based on its cash tequirements and investment
goals.
Financial review
The ststement of financial aebvibes shows a deficit for the year of W2,228, comprising inc(wne of £55,592 less
expendtiure of £132.598 plus gains of £14.TK8 on investrnents. As at 31 D￿rnber 2023, the charity had
general unrestn.cted fiJnds of £444,494 and deS￿nated funds of £1,133.335. In acwrdance wtth Charity
Commission recomme￿IatiOns. the designated funds are alkM3ted to a separate reserve accDunt ￿mpriSIng
the income support reserve.
The charTty's poliGy is that Un￿StrICted funds whth have not been designated for a specific use should be
maintained at a level equiv*nt to three nY)nths' expendiLuTE. The Trustees considerthat this policy will ensure
that, in the event of a signfficant drop tn funding, they will be a￿e to continue the charity's current activities while
consideration is given b ways in additional funds may be raised. This level of reserves has been
maintained throughoLrt Ihe year_
The charity's Trrin fvnding is Investn￿￿t in¢0￿. This irthme of £42,270 was sufficient to rrEet the
chanty's obligations on a funw-fund bw.

CHERRYTREE
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Future plans
The Gharty extended the fttnding arrangement for the Home & Heatth Wc￿ker empbyed by CSS by tsvo years,
¢ontinuing to 31 MaKh 2026. Further funding requests frcm CSS vrill consNJered as they arise. To date. the
chartty has agreed to cover the ttjst of fire doy upgrades * Mthley Lane and the establishment of a fund to
assist youTrJ people after they have moved on from CSS.
Structure. governance and managernnt
The Cherrytree Orphanage was found&Y in 1862. The Cherrytree charity (Charty registrab.on number.. 232351)
was established in 1966 and is governed by a Chanty Commi5ShX approved scheme. All powers are vested in
the Trustees. The charity 6 an unincorporated organisalK)n_
The Trustees who served during the yearwere".
Steve Walker (Chairl
Alan Brown
Jon Dunn
John Fuller
Janice Hoole
Liz Murray
Jon Smith
Lynne Urpeth
TrLtstees are mernbers who are elected at kne Annual General Meeting or c(trOPted by existing Trustees to hold
office unttl the following AGM. Induction and trdining of new TnJslees is undertaken by the Clet1( to the Trustees
and exists.ng Trustees. TTUStees are required to retire at the Annual General M￿ting bul may offer themselves
for re-election.
The T￿SteeS rr￿t on a quarterty t)￿ kn (xJnsh4er and fomiulate policy. They are also responsible for ihe
management of the charity In￿l￿l￿g the apwintrEnt and distharge of staff, the rr£king and altering of rules
and Ihe aulhor1sa1K￿ of expenditure.
The chanty's investment policy is to achieve a baL?￿￿ retum of incorrE and capital groyrth through moderate
risk investments. The portfol￿ is managed by Investec Weath and InveStn￿t Limited and the Truslees are
adwsed by stockbrokers.
Chefrytree is connected to CSS (Registered chanty number. 1096822 atNJ Company registration number.
04625597). CSS is a company limited by guarantee ofwhith Chtyee is the sole member.
The Trustees have assessed the major risks to whth the thaTity is extx)sed and are satsfied Ihat systems are
in pla￿ to mrtigate exposu￿ to the major ris

CHERRYfREE
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Reference and admlnlstrative details
The charity's principal office is Chwrytree. Lane. Totsy, Sheffield. S17 4HE.
Detsils of the Trustees seNing durin9 the year a￿ provKled under the headiro 'StnJcbJre. governar￿ and
managemenv above.
Asset Gover for funds
Note 18 sets out an analysis ofthe assets attrtbutable to the vartous funds. These assets are sufficient to meet
the charity's Obligat￿nS on a fund-by-fund ba
ststement ol Trustees, responsibilities
The Trustees are responsible for preparing theTrustees' Report and the a(￿Unts in accordance with applicable
law and United Kingdom Acccwnbng Standards {Unrted Kingdom General￿ Pxepted Accounting Prxb"ce).
The law applicable to charlies in England and Wa￿$ requires the Trustees to prepare accounts for each
financial year which gNe a true and fair view of Ihe state of affairs of the chanty and of the incoming resources
and application of resourc£s of the thanty for that year.
In preparing these atxounts, the Tntstees are required to:
- select suitabbe accounts.ng policies and then appty them consistenty"
. obseNe the methods and prÈnaples in the Charsties Statement of Reojmmended Prxtice"
- make judgements and estt"mates that are reaSona￿e and pft￿en(
- state whether applicable accounting stsndards have been followed. sufy'ert to any material departures
disclosed and explained in the accounts" and
- prepare the accounts w the going con￿rn basis unless it is inappropriate to presume that the charity will
(x)ntinue in operation.
The Trustees are reSpOrtsib￿ for keeping Su￿lent aLuunting records that disdose wrth reasonable a￿UraCY
at any time the financsal positK)n of the charity and enable them ￿ ensure that the ac￿￿nts comply with the
Chanties Act 2011, the Charity (Accounts and Reports) RegulatK)ns 2008 and the provisions of the trust deed.
They a￿ also respon￿ble for safeguarding the assets of the chanty and hence for tsk.tng reasonable Steps for
the prevention and det&tion of fraud and other irregularibes.
The Trustees, RetK)rtvras apwoved by the Board ofTrustees.
steve Walker {Chain)
,IrlA

CHERRYfREE
INDEPENDENT EXAMINER'S REPORT TO THE MEMEBERS OF cHERR￿REE
FOR THE YEAR ENDED 31 DECEMBER 2023
21 report on Ihe xc£)unts of the charty fDr the year ended 31 D￿mber 2023. which are set out on pages 5-6.
Responsibililies and basis of report
As the charity's trustees you are resFK)nsTr)le fof the prepaTrlion of the a￿Unts in accordance wtth the
TequiretrEnts of the Chariknes Act 2011.
I report in respect of my examination ofthe charity's ￿¥Unts Carr￿ out under section 145 ofthe 2011 Act and
in carrying out my examinab"on, I have followed all the appl￿ble Direciions given by the Chanty Commission
under section 145{5)b ofthe Act
My role is to state whethw any trtsial matters have (x)wE to rrty attention 9iving me cause to believe:
1. the accounting records were not kept in accordance wrth sec*on 130 of the ACL" or
2. the accounts did not accord with the acc￿lnting records". or
3. the accounts did not compty with the applicab￿ requirements conceming the form and contenls of
accounts set out in the Charil¢es (Accounts and Reports) Regulations 2008 otherthan any requirement
that the accnunts gNe a Irue and fairf view whth is rK)t a matter considered as part of an independent
examinatN)n
4. that there is further information r*eded for a understarbjing of the ￿oUnts.
Independent examinets statement
I have completed my examinabon and have no Con￿mS in respect ofthe matters (11 to {41 listed above and, in
connection with folknying the Directions of Ihe Char¥ty Commi8sK)n I have found no matters that require drawing
to your attent￿￿.
Jonathon Dickens FCA
Sutton McGrath Hart
5 WestbrTh)k Court
Sharrow Vale Road
Sheffield
S11 8YZ
Date".

CHERRYfREE
STATEMENT OF FINANCIAL ACTNITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Total
2023
Total
2022
funds
general
funds
designated
funds
Income from:
Donab"ons and legaaes
Charilable &tNities
1,322
12.000
1,322
1,872
12,000
13,500
Irwestments
42.270
42.270
43,516
Total income
55.592
55,592
58,888
nditure on:
Charitable actNitss
132.$98
132,598
84,105
T¢>tal resources expended
132.598
132.598
84.105
Net gains I (losses) on
investn*nts
Net gain on revaluation
11
14,778
14,778
1159,3931
12
Net in¢oming loutyoing
resources before transfers
162.228)
{184.610)
(77,(￿}
14.778
Gross transfers be
funds
(60.000)
Net movement in funds
I17,0￿}
(45.222)
162,228)
{184,610)
Fund balances at 1 January
2023
Fund balances at 31
December 2023
1,640.057
1,￿24,667
461.51x1
1.178.557
1.133A35
1,577.829
1.640,057
The statement of financial activrbes i￿ludeS all gains kjsses rec(yJnised in the year.
All income and expenditure is deriwj from continuing ¥tivths.

CHERRYfREE
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Flxed assets
Tangible assets
Investments
12
438,750
453,750
13
1,133.335
1,178,557
1.572,085
1.632,307
Curnnt assets
Debtors
15
5.513
3,396
Cash at bank and in hand
12.082
12.557
15.478
Creditors: amounts falling due
within oDe year
16
(6.813)
(7,728)
Nel current assets
5.744
7.750
Total assets ￿$$ current liabilities
1.577,829
1,640,057
In¢ome funds
unresth.cted funds..
Designated funds
17
1,133.335
1.178,557
General unrestncted funds
444.494
461.5DO
1.577,829
1,640.057
1,577,829
1.640.057
These wunts were approved by the Trustees on 1 July 2024.
Steve Walker (ChaimBn)
Date:
,l.Ig¥

CHERRYfREE
NOTES TO THE FINANCIAL sTATEME￿rs
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢¢ounting policies
Charity inforniation
The charity's registered Offi￿ is Cherrytree. Mickley Lane. Todey. Sheffield, S17 4HE. Cherytree is
public benefit entity as defined by FRS 102.
1.1 Accountlng convention
The ac￿nts have been prepared in a¢ts)rdance with the charity's Irust deed, the Chartties Act 2011 and
'Aceountng arKI Repoiting by Charities". Staterrmt of Recommended Practi￿ applicable to tharrties
preparing their accounts in a¢xordance with the Financtal ReFth'ng Strdndarrl applicable in the UK and
Republ￿ of Ireland (FRS 1021° {as amended for aeeounting ￿riC￿ls COMr￿Cln9 from 1 January 2016).
The charity has taken advanwe of the provisN)ns in the SORP for chanties applying FRS 102 Update
BUl￿tin 1 nol to prepa￿ a Staternent of Cash Fkjws.
The accounts are prepared in sterting. whth is the fijndional currency of the charity. Moneiary amounts
in these financial statements are round&1 to the nearest wund.
The atxounls have been prepared underthe hislorul cnstconventr"on, modrfied to indude the revaluation
of certain financial instrumerts al fair value. The pnncÈpal ￿0￿n￿9 ￿LICieS adOp￿j are set out below.
12 Going concern
At the time of approwng ihe accounts. the Trustees have a reasonable expectation that the charity has
adequate resources to conlinue in operat￿nal existen￿ fDr the foreseeabk fiJbJre. Thus, the Trustees
continue to adopt the going ¢oncem basis of accL)unting in preparing the a￿unts.
1.3 Charitable funds
Unrestricted fvnds are available for use at the diScre￿"0n of the Trustees in fvrtherance of their charitabte
objectives unless the funds have been dewgnated for other purposes.
Designated funds comprise fvnds whtch have beert set aside at the discrekn.on of the Tnjstees for speafic
purposes. The puryXj￿ and uses of the deggnated funds are set out in the r￿teS to the accounts.
Restricted fvnds are subject to spectfic corHlttions by donors as to how they may be used. The purposes
and uses ofthe restricted fvnds are set out in the notes to the accounts.
1.4 Incoming resources
I[￿lme is recogntsed when the chanty is entil￿d to it after any Kwtomiance conditions have been
met the amunts Can tre measured rdsabW, and it is Probab￿ that irmxj￿￿ will be retsNed.
Cash donat50ns are recognised on ￿lpL Other donatw)ns are recogn￿1 an￿ the charity has been
notified of the donalion, unless perf0mla￿e conditions requtre deferral of the amount
Legacies are ￿COgnised on receipt or otheThvise rf the charty has been r￿tified of an impending
dith"buts"on. the arTh)unt i8 knthvn. and receipt is exFecled. If the amcyjnl is not known, the legacy is treated
as a contingent asset

CHERRYTREE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1A Incoming resources {¢￿tinued)
Investment income is uedited to income on an acuuals basis, usirvJ dates of payments for dNidends and
daily acuuals for interest.
Interest on funds held on deposit is included when receivable and norrrolty UFon Trob'fication of the
interest paid or payable by the bank.
Subscriptions are credited to income when [￿Nab￿.
No income is shown net of expenditure.
1.5 Resources expended
l expendtiure accounted for on an accruals basis.
Costs relating directy to the oty'ects of the tharity are treated as (xjsts in the furthera￿￿ of the chanty's
objects.
Govemance costs indude exrErKliture for o)mtAlan￿ artd rnanageTrÈnt of the chatity.
1.6 Tangible fixed assets
Tangible fixed assets are initially measur&J at cost and subsequenty Measured at cost or valuation, net
of depreciation and ary impaiTment losses.
Depreciation is recognisod so as to wrrte off the cost or valuab.on of assets less their residual values over
their useful lives. Freehohy land is not depreciated and freehokj buildings are depreciated on a straight-
line basis.
The gain or loss arising on the disposal of aTT asset is deleTmined as the difference betr4een the sai8
prcwds and the carrying value of the asset, and recognised in the statement of financial activities.
1.7 Fixed asset investments
Fixed asset investments are inib'alty measured at IranSac￿rt price exduding transactkon (x)sts, and are
subsequentty measured al fair value at e&h re￿￿￿ng date. CharrfJes in fair Val￿ are ￿cOgniSed in the
ststement of financial &tNIts"es.
1A Impaimlent of fixed assets
At each reporting end date. ihe tharity reviews the carrying anN)unts of its tangible assets to determine
whether there i8 any indiLZtion that those assets have suffered an impaim)ent l¢)ss. If any such indication
exists, the recoverable an￿Unt of the assetis estimated in orderto deterrnine the extent of any impairment

CHERRYTREE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1.8 Impaimient of fixed assets (continued}
The re¢overable amount is the higher of fair value less sdling (xists and value in use. In assessing value
in use, the estimated fv￿re cash I1￿S are discounted to their present value using a prfrtsx discount rate
that reflects current market asse&sments oflhe tr"r￿ value of money and the rtsks specific to the a55et for
which the esiimates of fijture cash 11ows have not been adjusted.
If the re¢overable amount of an asset is estimated to be less than 115 carying amount, the carryittg amount
of the asset is reduced to its recoverable amunt. An impairment ths is recognised immediatety in the
statsment of financial actNiks, unless the relevant asset E carried at a revalued amount. ir¢ which case
the inpaimient Ioss 15 treated as a revaluation decrpase.
Recognised impainnent k)sses are reversed rf, and onty rf. the reasons for the impaim*nt loss have
ceased to appty. WThere an impairment loss subsequenty revetses, the carying amount of the asset is
increased to the revised esb"rnate of its recoverabte amjnt but so that the increased carrying amount
does not exceed the carrying arnount that would have been detemined had no impaiment loss been
recognised forthe asset in pmryears. A reversal of an impairrnent bss i% re￿nISed immediately, unless
the relevant asset is carried in at a revalued a[￿urt in which ose the reversal of the impaimient loss is
treated as a revaluation increase.
1.9 Cash and cash equivalents
Cash 2nd cash equTvalents indude cash in hand. deposits held at call banks, other short-lerm liquid
investments wth original maturiti.es of three n￿lthS or less. and bank overdrafts. Bank overdrafts are
shown within l)orrowings in current Ikabilities.
1.10 Financial instruments
The charity has elected to apply the provisions of Sect￿ 11 'Basic Financial Instruments. and Sectiori
12 '0ther Financial Instruments Issues, cf FRS 102 to all of ts finan¢ial instruments.
Financial instnjments are recognised in the charity's bala￿ sheet when the chaTity b￿rneS party to
the contractual provisK>ns of the instrurrEnL
Financial assets and liabilittes are offsel: wth the netamounts wesented in the finanrial ststements, when
there is a legalty enfor￿able right to set off Ihe recwnised amunts and there is an intention to settle on
a net basis or to realise the asset and sett￿ the Ivabilty simullaneou*.
Basic financial assets
Basic finanryal assets, which indude debt(Ks aThJ cash and bank balances. are inrtialty measured at
transaction price including transaction costs and are subsequenty carri&l at o)st using the
effective interest method untess the arrangement eonstitutes a financing transacts'on, where the
transaction is measured at the preserrt y￿￿e of the future receipts discounted at a market rate of interest.
Finanual assets ¢iassffied as rpxEivable within one year are not al￿"Sed.

CHERRYTREE
NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1.10 Financial instruments (continu¢d)
Impainnènt of finan¢ial assets
Financial assets, other than those hekj at fair value through irKome and expenditure, are assessed for
indicators of Impalm￿nt at each reporn.ng d*e. Financial assets are impaired where there is objective
eviden￿ thaL as a ￿Ult of one or more events that ￿cUrred after the initial recogn￿"On of the financial
asse( the estimated fvttjre cash kns have been affected.
If an asset is impaired, the impairrnent k)ss is the drfference bew the carying amount and the present
value of the estimated cash flows dis￿nted at the asseys original effective interest rate. The impaimienl
loss is r￿gnised in the statement offinancial aCkn￿es.
If there is a decrease in the impainnent loss arising from an event occurring after the impairment was
recognised, the impaitment is reversed. The reversal such that the current carying amount does not
e%￿ed what the carrying amount woukl have been. had the impaimEnt not previousty been recognised.
The impaiment reversal is recc4Jnised in the strter￿t of financial activth"es.
Dere¢ognition ¢)f finanual assets
Financial assets are derecognised onty vthen the contractual rpjhts to the (ash flows from the asset expire
or are settled, or when the ehar.ty Iransfers the financial asset and substsntially all the risks and rewards of
ownershtp to another entty. or if some signrficant Tisks and rewards of ownership are retained but control
of the asset has transferred to another paty that is a￿e to sell the asset in its entirety io an unrelated third
party.
Basic financlal liabilities
Basic financial fiabilities, including credttors and bank thns are iniiialty rec(yJnised at transactlon price
unless the arrdngerrEnt consMJtes a finanaNJ transaction, where the debt instsurrEnt is measured at the
present value of the futr1￿ payments discounted at a mw*et rate of interest Financial liabilities dassified
as payable within one year are not amoTb"5ed.
Debt instruments are subsequenty carT*d at an￿]￿ cos( using the effedive interest rate nEthod.
Trade cxeditors are obligatrons to pay for gcK*Js or seNices that have been acquired in the ordinary course
of operations trom suppliers. Amounts payab￿ are classified as current liabilibes if payment is due within
one year or less. If nol they ao presented as noTkllcurrent Itabilit￿. Trade creditors are recognised initi.alty
at transa￿lon pr￿e and subsequenty r￿ur￿j at anvyli￿ ¢ost using the effectNe interest method.
Derecogniti"on of financial liabilities
Financial liakmlib.es are derecc¥Jnised when Ihe cliaity's contrdcbjal obligab.ons expire or are disd)ar9ed or
cxncelled.
1.11 Leases
Rentals re￿1vable under ope￿￿ting leases. induding any * incenbves gNen. are re¢ognised as income
on a strai9ht4ine basis over the term of the ￿Se.
Crltical accounting estimatss and judgements
lft the application of the ¢hanty'S accA)unting wlKies. the Trustees are required to make judgements,
estimates and assumptions about the carrying amount ofassets and liabil￿eS that a￿ not readily apparent
from other sources. The estimates and asswated assumptsns are based on historical experience and
other factors conslaered to be relevant Actual results may drffer from these estimaks.
The estimates and undwtying assumptions are reviewed on an ongoing basis. Revisions to accounting
esiilrrales are fecognssed in the period in whth the esbmate is revbsed where the revision affecls only that
period. or in the Per￿ of the rewsion arKI future periryjs where the revision alfects both current and future
pericés.
10-

CHERRYTREE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Donations and legacies
2023
2022
Donations and gifts
Annual subscriptions
1.200
122
1,750
122
1,322
1,872
In 2022, all donat￿n$ and legaoes income receNed related to unresirrted funds.
Charilable activitie5
2023
2022
Rent
12.000
13.500
In 2022. all charrtable activits.es incomè received related to unrestri&ed funds.
Invesknents
2023
2022
Income from listed investments- dividends
Income from listed investments- interest
Interest receNable
41,279
876
115
42,806
687
23
42,270
43.516
In 2022. all invesknenl income r￿￿ed related to unrestn.cted fvnds.
Irwme from listsd invest￿￿nts is derived from inVestrr￿ts on the UK Stock Exchange.
11

CHERRYTREE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THEYEAR ENDED 31 DECEMBER 2023
Charitable activities
Grants
Dirert
payable charitable
expenditure
Total
2023
Total
2022
Depreciats"on and ImpaitTh￿nt
Miscellaneous expenditure on behalf of
Cherrytree Support servi￿ Limited
Payments to Cherrytree Support ServKes Limited
to help cash fiow
15.000
15.000
15,000
200
200
50,000
65,200
65.200
15,200
Grant fijnding of activities (see note 7}
Shwe of governan￿ costs (see nole 81
64.981
64,981
2.417
86,618
2.287
2.417
64.981
67.617
132,598
84.105
As in 2022, no charitable activrties expendtture was induded within restncted fvnds during the year.
Grants payable
2023
2022
Grants to Insti￿119ns.
Cherrytree Support Services Limited
64,981
66,618
The amount paid in grants to Cherytree Suptth serv￿ Limiled was to help meet its charitable
obieth.ves to provide XGommodation and supwrt to hoffle￿ young people befvRen the ages of 16
and21.
12-

CHERRYfREE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEIIIBER 2023
Support costs
SupportGovemance
2022 Basis of allocation
Independent examiner
General expenses
2,160
257
2.160
257
1.920 Govemance
367 Goveman
2.417
2.417
2,287
Analysed betsveen
¢haritabie ath"vities
2.417
2,417
2.287
None of the Trustees lor any persons connecled wtth them) re￿Ned any remuneration or benefits from
the charity during the year. In addition. no expenses were pa￿ to any ofthe Tnjstees or any other person
¢onnected them.
Ttustee indemnty insurance cover is induded in the overall Insurall￿ premiums paid.
10 Employees
There were no em￿yeeS during the year.
11 Net gains 1 (losse51 on investsnents
2023
2022
Revaluatson of investments
14.778
(159,3931
The charity owns listed irwestrEnts on the UK Stctk Exchange. The net gains ￿Ltyte to the change in
fair value ofthese investments and are induded wthin designated funds.
13-

CHERRYTREE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
12 Tangible fixed assets
Land & buildings
Cost
At 1 January 2023
Revaluatton
689,141
At 31 December 2023
689,141
Depreciation and Impairment
At 1 January 2023
Depreciation Charged in the year
235,391
15,000
At 31 December 2023
250.391
Carrying amount
At 31 December 2023
438,750
At 31 De￿mber 2022
453,750
Tan9ible fixed assets oJmprise the MiGkiey Lane site owned by the charity. In November 2019, the
property was ￿v￿Ued at £125.IXK] for land and £375.000 for buildings. The kyjihyings are being
depreciated from l December 2019 over their estimated remaining lrfe of 25 ye*s.
14-

CHERRYTREE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Fixed asset investments
Current financial year
Listed
investments
Cost or valuation
At 1 January 2023
Addibons
valuats.on Changes
Disposa]s
1,178,557
104,229
14.778
1164,229)
At 31 D￿mber 2023
1.133,335
Carrying amount
At 31 December 2023
1.133,335
At 31 Decerntw 2022
1,178,557
Prior finan¢ial year
Cost or valuation
At 1 January 2022
Additions
ValuatK)n changes
Disposals
1,347.950
293.365
1159.393}
1303,365)
At 31 December 2(Y22
1.178,557
Carrying amount
At 31 December 2022
1,178,557
At 31 Decemter 2021
1,347,950
2023
2022
Investments at fair value comprise".
UK
Fo￿￿3n
622,458
510,877
762.717
415,840
1.133.335
1,178.557
15-

CHERRYTREE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Fixed asset investments (continued)
Listed invesbnents afft measvrd at fair value based on mKI-market pr￿eS from the approprÉate Stock
Exchange or the relevant fund mana9er.
If investments were stated on a historical cost basis rather than a fair value basis. the total amounts
included would have been £974,001 (2022- £983.3251.
There were Iwo holdings in excess of 5% ofthe total portfol￿ market value.
The Trustees, investment policy is to mainlain a dNersffied FM)thlio to gNe a balanced retum
income and capital growth. wtth an overall moderate risk profile. The exposure to equrty markets is
provided in the main through investment in a com￿"nation of blue-chip UK equities and overseas equity
market collectives. Allowing for the capital that was drawn dovm from rt during the course of the year, the
investmellt portfolio recoftled a gain of 5.3% in tems of its riet lotal retum. This performance lagged
behind that of the MSCI WMI Balanced Porttotio Index. which registwed a gain of 10.1% duriro the year.
The valuation inuease was £14,778 (2022 - £159,313 deiJease} and includes fees totalling £10,865
(2022 - £11.9321 for managerrEnt ofthe F(thlio.
14 Financial instruments
2023
2022
Carrying amount of financial assets
Debt instruments measured at amorti%ed cost
Equity instruments measur&Y at fair value
5,513
1,133,335
3,396
1.178,557
Carrying amount of financial liabilities
Measured at amortised cost
6.813
7,728
15 Debtors
2023
2022
Amounts falling due within one year.
Other debtors
5,513
3,396
16 Creditors- amounts falling due wfthin one year
2023
2022
Amounts owed to Cherrytree Support serv￿ Limited
Accruals and deferred income
4,653
2.160
5,568
2,160
6.813
7,728
16-

CHERRYTREE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
17 Designated fund5
Designated funds have been set aside out of unrestrthd funds for $pecff￿ purFM)ses'.
Balanco at Incoming R•sour¢es Transfers
1 January resources expended
2023
Gains
Balance at 31
December
2023
Income support
reserve
1.178.557
(60.0001
14.778
1,133,335
Movement tn funds- previous year
Balance at Incoming Resources Transfers
L05se$ 8alance at 31
1 January resources expended
December
2022
2022
Income support
reserve
1,347.950
(lo.￿0>
1159.3131
1,178,557
The income support fvnd is deswJned to provide income for tharitsble grants and is Tepresented
by fixed asset investrnents.
The transfers from designaled to unrestrict*J fvnds represent investrr*nts sokj to provwje financ￿1
support to Cherytree Support SeNices Limited.
In orderto cont.nue to achieve the objectives set out on page 1 of this rewJrL the Tnjstees seek to
ensure that this designated fund is adequate to wovTrde the income which wll meet the future
planned grants to Cherrytree Supp)rt Setvices kn"miied.
17-

CHERRYfREE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 Analysls of net assets between funds
Total
funds
funds
geneTrl
designated
Fund balances at 31 December 2023 are represented by..
Tangible assets
438.750
Investments
438.750
1.133.335
1,133,335
5,744
Net current assets
5,744
1.133.335
1,577,829
This inclLKles unrealised gains of £159,334 relating to listed investments.
Restrict8d
Total
fvnds
fvnds
fvnds
general
designated
Fund balances at 31 December 2022 are represented by:
Tangible assets
453.750
Invesknents
453,750
1.178.557
1.178,557
Net current assets
7.750
7,750
461.500
1.178.557
1.640.057
This includes unrealised gains of £195,232 rektiThJ to listed investnEnts.
19 Related party transactions
Included in creditors is £4.65312022." £5,568) owed to Cherrytree Support SetvK2s Limited {CSSI. a company
limited by guarantee, of which Cherrytree is the SO￿ member. Ifthe company is di5sofved Cherrytree promises
to pay £1 towards the cost of dissolution and the liatM"lrties incurred by the company while Cherrytree is a
member.
During the year Cherrytree made grants of £64.981 12022.. £66,618) to CSS as a contribution towards its
charitable expendrture costs. Cherrytree aLso paid CSS £50,CNJO during the year to help overwme cash flow
difficuthes. CSS indiredy pays Cherrytree rent for propety through a third party, which in the year amounted
to £12,00012022.' £13,500). £200 was paid by the tharty on behalf of CSS during the year12022: £2001.
Consolidated accounts have not been prepared as the Truslee5 of Cherrytree do mt believe they dire¢t the
operations of the company. The registered off￿ for CSS is Middey Lane. Toty. Sheffield, S17 4HE.
18-