Company registration number 05579753 (England and Wales)
SCHOENEMANN DESIGN LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
SCHOENEMANN DESIGN LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SCHOENEMANN DESIGN LTD
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
1,746
Tangible assets
4
-
0
7,807
Investments
5
-
0
15,000
-
0
24,553
Current assets
Debtors
6
433
32,725
Cash at bank and in hand
4,292
85,444
4,725
118,169
Creditors: amounts falling due within one year
7
(4,693)
(66,060)
Net current assets
32
52,109
Total assets less current liabilities
32
76,662
Provisions for liabilities
-
0
(1,815)
Net assets
32
74,847
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(68)
74,747
Total equity
32
74,847

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SCHOENEMANN DESIGN LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 14 September 2022
Mr A R Schoenemann
Director
Company Registration No. 05579753
SCHOENEMANN DESIGN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information

Schoenemann Design Ltd is a private company limited by shares incorporated in England and Wales. The registered office is St.Helens House, King Street, Derby, DE1 3EE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period

The period of accounts has been extended to align with the cessation of the trade. Comparative amounts for the previous period are not entirely comparable.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
25% reducing balance
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

SCHOENEMANN DESIGN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

 

1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2022
2020
Number
Number
Total
2
2
SCHOENEMANN DESIGN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 5 -
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 October 2020
30,350
10,369
40,719
Disposals
-
0
(10,369)
(10,369)
At 31 March 2022
30,350
-
0
30,350
Amortisation and impairment
At 1 October 2020
30,350
8,623
38,973
Disposals
-
0
(8,623)
(8,623)
At 31 March 2022
30,350
-
0
30,350
Carrying amount
At 31 March 2022
-
0
-
0
-
0
At 30 September 2020
-
0
1,746
1,746
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2020
41,940
Disposals
(41,940)
At 31 March 2022
-
0
Depreciation and impairment
At 1 October 2020
34,133
Eliminated in respect of disposals
(34,133)
At 31 March 2022
-
0
Carrying amount
At 31 March 2022
-
0
At 30 September 2020
7,807
5
Fixed asset investments
2022
2020
£
£
Other investments other than loans
-
0
15,000
SCHOENEMANN DESIGN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 6 -
6
Debtors
2022
2020
Amounts falling due within one year:
£
£
Other debtors
433
32,725
7
Creditors: amounts falling due within one year
2022
2020
£
£
Trade creditors
252
36
Taxation and social security
312
860
Other creditors
4,129
65,164
4,693
66,060
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