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Company Registration No. 13155997 (England and Wales)
Schain Technologies Limited Unaudited accounts for the year ended 31 January 2024
Schain Technologies Limited Unaudited accounts Contents
Page
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Schain Technologies Limited Company Information for the year ended 31 January 2024
Directors
S K R Ekambram Sravan K R Ekambram
Company Number
13155997 (England and Wales)
Registered Office
59 Vauxhall Drive Woodley Reading RG5 4EB England
Accountants
Insight Accountex Ltd 18 Fuller Road Dagenham Essex RM8 2TT
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Schain Technologies Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,674 
19,322 
Current assets
Debtors
- 
663 
Cash at bank and in hand
361 
37,144 
361 
37,807 
Creditors: amounts falling due within one year
(1,019)
(12,646)
Net current (liabilities)/assets
(658)
25,161 
Total assets less current liabilities
10,016 
44,483 
Creditors: amounts falling due after more than one year
(1,473)
(5,777)
Net assets
8,543 
38,706 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
8,542 
38,705 
Shareholders' funds
8,543 
38,706 
For the year ending 31 January 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 15 September 2024 and were signed on its behalf by
S K R Ekambram Director Company Registration No. 13155997
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Schain Technologies Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Schain Technologies Limited is a private company, limited by shares, registered in England and Wales, registration number 13155997. The registered office is 59 Vauxhall Drive, Woodley, Reading, RG5 4EB, England.
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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:
Plant & machinery
Over three years on straight-line basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Schain Technologies Limited Notes to the Accounts for the year ended 31 January 2024
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
14,073 
18,750 
32,823 
Additions
1,096 
- 
1,096 
At 31 January 2024
15,169 
18,750 
33,919 
Depreciation
At 1 February 2023
8,813 
4,688 
13,501 
Charge for the year
5,056 
4,688 
9,744 
At 31 January 2024
13,869 
9,376 
23,245 
Net book value
At 31 January 2024
1,300 
9,374 
10,674 
At 31 January 2023
5,260 
14,062 
19,322 
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Schain Technologies Limited Notes to the Accounts for the year ended 31 January 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
135 
Other debtors
- 
528 
- 
663 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
- 
6,313 
Other creditors
639 
6,333 
Accruals
380 
- 
1,019 
12,646 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
1,473 
5,777 
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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