1 February 2022 false Taxfiler 2023.9.1 11149502business:PrivateLimitedCompanyLtd2022-02-012023-01-31 111495022022-01-31 111495022022-02-012023-01-31 11149502business:AuditExemptWithAccountantsReport2022-02-012023-01-31 11149502business:FilletedAccounts2022-02-012023-01-31 111495022023-01-31 11149502business:Director12022-02-012023-01-31 11149502business:RegisteredOffice2022-02-012023-01-31 111495022022-01-31 11149502core:WithinOneYear2023-01-31 11149502core:WithinOneYear2022-01-31 11149502core:AfterOneYear2023-01-31 11149502core:AfterOneYear2022-01-31 11149502core:ShareCapitalcore:PreviouslyStatedAmount2023-01-31 11149502core:ShareCapitalcore:PreviouslyStatedAmount2022-01-31 11149502core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-01-31 11149502core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-01-31 11149502core:PreviouslyStatedAmount2023-01-31 11149502core:PreviouslyStatedAmount2022-01-31 11149502business:SmallEntities2022-02-012023-01-31 11149502countries:EnglandWales2022-02-012023-01-31 11149502core:MotorVehicles2022-02-012023-01-31 11149502core:FurnitureFittings2022-02-012023-01-31 11149502core:MotorVehicles2022-01-31 11149502core:FurnitureFittings2022-01-31 11149502core:MotorVehicles2023-01-31 11149502core:FurnitureFittings2023-01-31 11149502core:WithinOneYear2022-02-012023-01-31 11149502core:AfterOneYear2022-02-012023-01-31 11149502business:OrdinaryShareClass12022-02-012023-01-31 11149502business:OrdinaryShareClass12021-02-012022-01-31 111495022021-02-012022-01-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 11149502 (England and Wales)
Schmidt Leisure Limited Unaudited accounts for the year ended 31 January 2023
Schmidt Leisure Limited Unaudited accounts Contents
Page
- 2 -
Schmidt Leisure Limited Company Information for the year ended 31 January 2023
Director
Peter Schmidt
Company Number
11149502 (England and Wales)
Registered Office
Denmark House 143 High Street Chalfont St Peter Bucks SL9 9QL United Kingdom
Accountants
Lane Accounting Limited Denmark House 143 High Street Chalfont St Peter Buckinghamshire SL9 9QL
- 3 -
Schmidt Leisure Limited Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
575,307 
372,623 
Current assets
Inventories
16,780 
17,500 
Debtors
177,010 
20,085 
Cash at bank and in hand
134,127 
23,978 
327,917 
61,563 
Creditors: amounts falling due within one year
(217,913)
(80,429)
Net current assets/(liabilities)
110,004 
(18,866)
Total assets less current liabilities
685,311 
353,757 
Creditors: amounts falling due after more than one year
(639,186)
(351,962)
Net assets
46,125 
1,795 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
46,124 
1,794 
Shareholders' funds
46,125 
1,795 
For the year ending 31 January 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 October 2023 and were signed on its behalf by
Peter Schmidt Director Company Registration No. 11149502
- 4 -
Schmidt Leisure Limited Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Schmidt Leisure Limited is a private company, limited by shares, registered in England and Wales, registration number 11149502. The registered office is Denmark House , 143 High Street, Chalfont St Peter, Bucks, SL9 9QL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% per annum of cost
Fixtures & fittings
20% per annum of cost
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
- 5 -
Schmidt Leisure Limited Notes to the Accounts for the year ended 31 January 2023
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2022
461,828 
6,206 
468,034 
Additions
700,296 
158 
700,454 
Disposals
(383,296)
- 
(383,296)
At 31 January 2023
778,828 
6,364 
785,192 
Depreciation
At 1 February 2022
93,553 
1,858 
95,411 
Charge for the year
155,766 
1,273 
157,039 
On disposals
(42,565)
- 
(42,565)
At 31 January 2023
206,754 
3,131 
209,885 
Net book value
At 31 January 2023
572,074 
3,233 
575,307 
At 31 January 2022
368,275 
4,348 
372,623 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
6,224 
Trade debtors
166,421 
- 
Accrued income and prepayments
10,589 
9,861 
Other debtors
- 
4,000 
177,010 
20,085 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
4,095 
- 
Obligations under finance leases and hire purchase contracts
41,233 
28,365 
Trade creditors
72,038 
1,834 
Loans from directors
99,332 
48,931 
Accruals
1,215 
1,299 
217,913 
80,429 
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £41,233 (2022 - £28,364). The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.
- 6 -
Schmidt Leisure Limited Notes to the Accounts for the year ended 31 January 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
521,105 
245,753 
Obligations under finance leases and hire purchase contracts
118,081 
106,209 
639,186 
351,962 
Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £639,186 (2022 - £351,962). The bank loan is secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £0.01 each
1 
1 
9
Loans to directors
At 31 January 2023 Mr P Schmidt was owed £99,332 (2022 - £48,931 by the company. This is an interest bearing loan repayable on demand. Mr Schmidt did not charge interest during the year.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
- 7 -