Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30162022-05-01falseNo description of principal activity13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03154203 2022-05-01 2023-04-30 03154203 2023-04-30 03154203 2021-05-01 2022-04-30 03154203 2022-04-30 03154203 c:Director4 2022-05-01 2023-04-30 03154203 d:MotorVehicles 2022-05-01 2023-04-30 03154203 d:FurnitureFittings 2022-05-01 2023-04-30 03154203 d:OfficeEquipment 2022-05-01 2023-04-30 03154203 d:OtherPropertyPlantEquipment 2023-04-30 03154203 d:OtherPropertyPlantEquipment 2022-04-30 03154203 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 03154203 d:Goodwill 2023-04-30 03154203 d:Goodwill 2022-04-30 03154203 d:LeaseholdInvestmentProperty 2023-04-30 03154203 d:LeaseholdInvestmentProperty 2022-04-30 03154203 d:CurrentFinancialInstruments 2023-04-30 03154203 d:CurrentFinancialInstruments 2022-04-30 03154203 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03154203 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 03154203 d:ShareCapital 2023-04-30 03154203 d:ShareCapital 2022-04-30 03154203 d:RetainedEarningsAccumulatedLosses 2023-04-30 03154203 d:RetainedEarningsAccumulatedLosses 2022-04-30 03154203 c:FRS102 2022-05-01 2023-04-30 03154203 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 03154203 c:FullAccounts 2022-05-01 2023-04-30 03154203 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 03154203 2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure
Company registration number: 03154203







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2023


SCH MANAGEMENT LIMITED






































img2bd9.png                        

 


SCH MANAGEMENT LIMITED
REGISTERED NUMBER:03154203



STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
8,924
10,550

Investment property
  
250,000
250,000

  
258,924
260,550

Current assets
  

Stocks
  
5,688
7,022

Debtors: amounts falling due within one year
 7 
8,136
4,698

Cash at bank and in hand
  
159,004
160,676

  
172,828
172,396

Creditors: amounts falling due within one year
 8 
(65,896)
(119,809)

Net current assets
  
 
 
106,932
 
 
52,587

Total assets less current liabilities
  
365,856
313,137

Provisions for liabilities
  

Deferred tax
  
(15,029)
(14,854)

  
 
 
(15,029)
 
 
(14,854)

Net assets
  
350,827
298,283


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
349,827
297,283

  
350,827
298,283


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 November 2023.


Page 1

 


SCH MANAGEMENT LIMITED
REGISTERED NUMBER:03154203


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023



................................................
S J Hardstone
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


SCH MANAGEMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

These financial statements have been prepared in accordance with FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
SCH Management Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is situated at The Jolly Farmer, High Street, Bramley, Guildford, Surrey, GU5 0HB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 


SCH MANAGEMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Intangible assets - Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.



Page 4

 


SCH MANAGEMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Fixtures and fittings
-
15%
Office equipment
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. 
The directors consider that the leasehold property value is equal to cost and hence have not depreciated the asset.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by the directors. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 


SCH MANAGEMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 13).


4.


Intangible assets




Goodwill

£



Cost


At 1 May 2022
292,564



At 30 April 2023

292,564



Amortisation


At 1 May 2022
292,564



At 30 April 2023

292,564



Net book value



At 30 April 2023
-



At 30 April 2022
-



Page 6

 


SCH MANAGEMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Tangible fixed assets





Other plant and machinery etc.

£



Cost or valuation


At 1 May 2022
41,284



At 30 April 2023

41,284



Depreciation


At 1 May 2022
30,734


Charge for the year on owned assets
1,626



At 30 April 2023

32,360



Net book value



At 30 April 2023
8,924



At 30 April 2022
10,550


6.


Investment property


Long term leasehold investment property

£



Valuation


At 1 May 2022
250,000



At 30 April 2023
250,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.







Page 7

 


SCH MANAGEMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Debtors

2023
2022
£
£


Other debtors
5,316
-

Prepayments and accrued income
2,820
2,544

Tax recoverable
-
2,154

8,136
4,698



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
40,834

Trade creditors
7,526
24,303

Corporation tax
29,863
27,286

Other taxation and social security
21,244
20,435

Other creditors
1,465
3,451

Accruals and deferred income
5,798
3,500

65,896
119,809





9.


Transactions with directors

At the year end the directors were owed £497 by the company (2022 - £1,532). No interest was paid on the loan.

Page 8