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REGISTERED NUMBER: 01201931 (England and Wales)
















Unaudited Financial Statements for the Year Ended 30 April 2024

for


Schilward Motors Limited


Schilward Motors Limited (Registered number: 01201931)







Contents of the Financial Statements

for the Year Ended 30 April 2024





Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

4



Report of the Accountants  

7



Schilward Motors Limited


Company Information

for the Year Ended 30 April 2024









DIRECTOR:

J Raby







REGISTERED OFFICE:

26 Bell Street


Sawbridgeworth


Hertfordshire


CM21 9AN







REGISTERED NUMBER:

01201931 (England and Wales)







ACCOUNTANTS:

Lawrence & Company


Chartered Certified Accountants


26 Bell Street


Sawbridgeworth


Hertfordshire


CM21 9AN


Schilward Motors Limited (Registered number: 01201931)


Balance Sheet

30 April 2024



30.4.24

30.4.23



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

430,297


436,554




CURRENT ASSETS

Debtors

5

54,792


37,362



Prepayments and accrued income

8,386


-



Cash at bank

121,115


126,300



184,293


163,662



CREDITORS

Amounts falling due within one year

6

137,042


118,281



NET CURRENT ASSETS

47,251


45,381



TOTAL ASSETS LESS CURRENT

LIABILITIES

477,548


481,935




CREDITORS

Amounts falling due after more than one

year

7

362,941


384,062



NET ASSETS

114,607


97,873




CAPITAL AND RESERVES

Called up share capital

50


50



Capital redemption reserve

8

50


50



Retained earnings

8

114,507


97,773



SHAREHOLDERS' FUNDS

114,607


97,873




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.  


The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.


Schilward Motors Limited (Registered number: 01201931)


Balance Sheet - continued

30 April 2024



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 28 June 2024 and were signed by:






J Raby - Director



Schilward Motors Limited (Registered number: 01201931)


Notes to the Financial Statements

for the Year Ended 30 April 2024


1.

STATUTORY INFORMATION



Schilward Motors Limited 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.


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.    



Turnover

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


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Plant and machinery

-

20% on cost


Fixtures and fittings

-

20% on cost


Motor vehicles

-

25% on reducing balance


Computer equipment

-

25% on cost



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.


Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.


Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 7 (2023 - 7 ) .


Schilward Motors Limited (Registered number: 01201931)


Notes to the Financial Statements - continued

for the Year Ended 30 April 2024


4.

TANGIBLE FIXED ASSETS


Fixtures


Freehold


Plant and


and


property


machinery


fittings

£   

£   

£   



COST


At 1 May 2023

418,520


89,556


3,823




Additions

-


-


-




At 30 April 2024

418,520


89,556


3,823




DEPRECIATION


At 1 May 2023

-


75,048


3,147




Charge for year

-


13,608


676




At 30 April 2024

-


88,656


3,823




NET BOOK VALUE


At 30 April 2024

418,520


900


-




At 30 April 2023

418,520


14,508


676





Motor


Computer



vehicles


equipment


Totals

£   

£   

£   



COST


At 1 May 2023

3,800


10,002


525,701




Additions

9,500


2,155


11,655




At 30 April 2024

13,300


12,157


537,356




DEPRECIATION


At 1 May 2023

950


10,002


89,147




Charge for year

3,088


540


17,912




At 30 April 2024

4,038


10,542


107,059




NET BOOK VALUE


At 30 April 2024

9,262


1,615


430,297




At 30 April 2023

2,850


-


436,554




5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



30.4.24


30.4.23

£   

£   



Trade debtors

54,792


37,362




Schilward Motors Limited (Registered number: 01201931)


Notes to the Financial Statements - continued

for the Year Ended 30 April 2024


6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



30.4.24


30.4.23

£   

£   



Bank loans and overdrafts

26,600


26,600




Trade creditors

48,328


38,055




Taxation

21,385


17,868




Social security and other taxes

16,229


15,692




Directors' current accounts

23,000


18,066




Accrued expenses

1,500


2,000



137,042


118,281




7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



30.4.24


30.4.23

£   

£   



Bank loans - 1-2 years

26,600


26,600




Bank loans - 2-5 years

50,633


60,633




Bank loans more 5 yr by instal

285,708


296,829



362,941


384,062





Amounts falling due in more than five years:



Repayable by instalments


Bank loans more 5 yr by instal

285,708


296,829




8.

RESERVES


Capital



Retained


redemption



earnings


reserve


Totals

£   

£   

£   




At 1 May 2023

97,773


50


97,823




Profit for the year

66,734


66,734




Dividends

(50,000

)

(50,000

)



At 30 April 2024

114,507


50


114,557




9.

RELATED PARTY DISCLOSURES



During the year, total dividends of £50,000 (2023 - £45,000) were paid to the director .


The director controls the company by virtue of a direct controlling interest of 100% of the issued ordinary share capital.Transactions on the directors loan account during the year were as follows:-

Balance Advanced to Balance
B/fwd the company C/fwd

£13,441 £9,559 £13,000


Schilward Motors Limited


Report of the Accountants to the Director of

Schilward Motors Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.


As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2024 set out on pages three to eight and you consider that the company is exempt from an audit.  


In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.  







Lawrence & Company

Chartered Certified Accountants

26 Bell Street

Sawbridgeworth

Hertfordshire

CM21 9AN



28 June 2024