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REGISTERED NUMBER: 09124559 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SCHOFIELD HOMES LTD

SCHOFIELD HOMES LTD (REGISTERED NUMBER: 09124559)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SCHOFIELD HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr M P Schofield
Mr P B Schofield
Mrs H Schofield
Mrs S Schofield





REGISTERED OFFICE: Unit 44
Longshot lane
Bracknell
Berkshire
RG12 1RL





REGISTERED NUMBER: 09124559 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

SCHOFIELD HOMES LTD (REGISTERED NUMBER: 09124559)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 - 1

CURRENT ASSETS
Debtors 5 256,849 263,474
Cash at bank 53 73
256,902 263,547
CREDITORS
Amounts falling due within one year 6 327,693 335,482
NET CURRENT LIABILITIES (70,791 ) (71,935 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(70,791

)

(71,934

)

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings (71,791 ) (72,934 )
SHAREHOLDERS' FUNDS (70,791 ) (71,934 )

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

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

The directors acknowledge their 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.

SCHOFIELD HOMES LTD (REGISTERED NUMBER: 09124559)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





Mr M P Schofield - Director


SCHOFIELD HOMES LTD (REGISTERED NUMBER: 09124559)

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


1. STATUTORY INFORMATION

Schofield Homes 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 Pound Sterling (£) rounded to the nearest pound.

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.

GOING CONCERN
The company's balance sheet shows a net deficit shareholders fund position. However, the directors (who are also the shareholders) have confirmed their continued financial support for the foreseeable future and for at least twelve months from the date of signature of these accounts.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, the directors are required to make estimates and judgments about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 statement of financial position date.

SCHOFIELD HOMES LTD (REGISTERED NUMBER: 09124559)

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


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment is discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Investment in Schofield Design
and Property Consultancy LLP - 1

Schofield Design & Property Consultancy LLP
The company is a designated member of Schofield Design & Property Consultancy LLP, an entity incorporated in England and Wales. The investment has been written off during the year as the LLP has now been dissolved.

SCHOFIELD HOMES LTD (REGISTERED NUMBER: 09124559)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 256,849 263,474

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 517 517
Tax 268 363
VAT 8,859 10,859
Other creditors 315,613 321,267
Accrued expenses 2,436 2,476
327,693 335,482

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary shares £1 1,000 1,000

8. RELATED PARTY DISCLOSURES

2023 2022
£    £   

Entities with common controlling parties

Amounts owed to related parties
Loans owed to related parties 315,587 321,242
Interest charged on loans owed to related parties at 3% per annum 9,304 7,538
Property management fees charged to related parties 12,000 10.000
Amounts owed by related parties 256,849 263,474