Help Identifying Very Old Porcelain Child's Tea Set

I was given this set from my late Mother in-law. It appears to be possibly a child's tea set, but I am not sure. The only information she could give me was that her Grandfather bought it from someone on a train in Europe. This would have to have been the early 1900's. It is a very delicate china or porcelain in white with brilliant gold paint. The pattern looks like cherries. It is a 10 piece set including Teapot with lid, Creamer, Sugar with lid, 2 saucers and 2 cups and the Tray.

I would be very interested to know more about this as well as if it is something of some value that I should hold on to.

The only marks I could see is the number "468" on the bottom of the teapot, creamer and sugar. The possible number "1120" is on the bottom of the two cups. There is also some type of marking on the bottom of the tray. I cannot tell what it is. See picture.

Measurements: Tray-9.5" x 8.5". Teapot- 4.75: H x 4.75". Creamer- 2.5" T x 2.75" W. Sugar- 3" T x 4" wide. Cups- 2" T x 2.25" W. Saucers- 3.75" across. The tray does show wear and scuffs in the gold, and one saucer has a paint chip on it.