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REGISTERED NUMBER: 11978289 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

SCHOEMAN ESTATES LTD

SCHOEMAN ESTATES LTD (REGISTERED NUMBER: 11978289)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SCHOEMAN ESTATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: T I Schoeman





REGISTERED OFFICE: 29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA





REGISTERED NUMBER: 11978289 (England and Wales)





ACCOUNTANTS: Lemans
29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA

SCHOEMAN ESTATES LTD (REGISTERED NUMBER: 11978289)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 854 3,284
Investment property 5 105,000 105,000
105,854 108,284

CURRENT ASSETS
Debtors 6 - 601
Cash at bank 44,963 43,988
44,963 44,589
CREDITORS
Amounts falling due within one year 7 114,002 108,830
NET CURRENT LIABILITIES (69,039 ) (64,241 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,815

44,043

CREDITORS
Amounts falling due after more than one
year

8

(28,061

)

(39,286

)

PROVISIONS FOR LIABILITIES (2,815 ) (2,054 )
NET ASSETS 5,939 2,703

CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair value reserve 10 14,817 14,817
Retained earnings 10 (8,879 ) (12,115 )
SHAREHOLDERS' FUNDS 5,939 2,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SCHOEMAN ESTATES LTD (REGISTERED NUMBER: 11978289)

BALANCE SHEET - continued
31 MAY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 November 2023 and were signed by:





T I Schoeman - Director


SCHOEMAN ESTATES LTD (REGISTERED NUMBER: 11978289)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Schoeman Estates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover comprises of rental income for the residential properties, these are recognised when they become receivable by the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

SCHOEMAN ESTATES LTD (REGISTERED NUMBER: 11978289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2022
and 31 May 2023 7,289
DEPRECIATION
At 1 June 2022 4,005
Charge for year 2,430
At 31 May 2023 6,435
NET BOOK VALUE
At 31 May 2023 854
At 31 May 2022 3,284

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 105,000
NET BOOK VALUE
At 31 May 2023 105,000
At 31 May 2022 105,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2021 105,000

If investment properties had not been revalued they would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 90,183 90,183

Investment properties were valued on a fair value basis on 31 May 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Prepayments - 601

SCHOEMAN ESTATES LTD (REGISTERED NUMBER: 11978289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 11,224 6,548
Corporation tax 87 -
Directors' current accounts 101,575 101,263
Accrued expenses 1,116 1,019
114,002 108,830

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 28,061 39,286

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2022 (12,115 ) 14,817 2,702
Profit for the year 3,236 3,236
At 31 May 2023 (8,879 ) 14,817 5,938