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Company registration number: 13857434
Schilling Catering Co. Ltd
Trading as The Rectory
Unaudited filleted financial statements
31 January 2024
Schilling Catering Co. Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Schilling Catering Co. Ltd
Directors and other information
Directors Andrew Schilling
Glenda Schilling
Company number 13857434
Registered office 8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
Business address Unit 4
Old Rectory Gardens
Cheadle
SK8 1BX
Accountants Langers
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
Schilling Catering Co. Ltd
Statement of financial position
31 January 2024
31/01/24 31/01/23
Note £ £ £ £
Fixed assets
Tangible assets 5 38,641 43,706
Investments 6 98,502 98,502
_______ _______
137,143 142,208
Current assets
Stocks 1,986 2,468
Debtors 7 13,911 17,961
Cash at bank and in hand 648 3,763
_______ _______
16,545 24,192
Creditors: amounts falling due
within one year 8 ( 183,652) ( 192,365)
_______ _______
Net current liabilities ( 167,107) ( 168,173)
_______ _______
Total assets less current liabilities ( 29,964) ( 25,965)
_______ _______
Net liabilities ( 29,964) ( 25,965)
_______ _______
Capital and reserves
Called up share capital 9 100 100
Profit and loss account ( 30,064) ( 26,065)
_______ _______
Shareholders deficit ( 29,964) ( 25,965)
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 October 2024 , and are signed on behalf of the board by:
Andrew Schilling
Director
Company registration number: 13857434
Schilling Catering Co. Ltd
Statement of changes in equity
Year ended 31 January 2024
Called up share capital Profit and loss account Total
£ £ £
At 19 January 2022 - - -
Loss for the year ( 26,065) ( 26,065)
_______ _______ _______
Total comprehensive income for the year - ( 26,065) ( 26,065)
Issue of shares 100 100
_______ _______ _______
Total investments by and distributions to owners 100 - 100
_______ _______ _______
At 31 January 2023 and 1 February 2023 100 (26,067) (25,967)
Loss for the year ( 3,997) ( 3,997)
_______ _______ _______
Total comprehensive income for the year - ( 3,997) ( 3,997)
_______ _______ _______
At 31 January 2024 100 ( 30,064) ( 29,964)
_______ _______ _______
Schilling Catering Co. Ltd
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 8-10 Gatley Road, Cheadle, Cheshire, SK8 1PY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors will continue to financially support the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - 25 % straight line
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 February 2023 22,713 33,578 56,291
Additions 7,781 2,106 9,887
_______ _______ _______
At 31 January 2024 30,494 35,684 66,178
_______ _______ _______
Depreciation
At 1 February 2023 5,678 6,907 12,585
Charge for the year 7,624 7,328 14,952
_______ _______ _______
At 31 January 2024 13,302 14,235 27,537
_______ _______ _______
Carrying amount
At 31 January 2024 17,192 21,449 38,641
_______ _______ _______
At 31 January 2023 17,035 26,671 43,706
_______ _______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 February 2023 and 31 January 2024 98,502 98,502
_______ _______
Impairment
At 1 February 2023 and 31 January 2024 - -
_______ _______
Carrying amount
At 31 January 2024 98,502 98,502
_______ _______
At 31 January 2023 98,502 98,502
_______ _______
7. Debtors
31/01/24 31/01/23
£ £
Other debtors 13,911 17,961
_______ _______
8. Creditors: amounts falling due within one year
31/01/24 31/01/23
£ £
Trade creditors 942 804
Social security and other taxes 39 57
Other creditors 182,671 191,504
_______ _______
183,652 192,365
_______ _______
9. Called up share capital
Issued, called up and fully paid
31/01/24 31/01/23
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Year ended 31/01/24
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Andrew Schilling ( 900) 6,300 5,400
_______ _______ _______
Period ended 31/01/23
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Andrew Schilling - ( 900) ( 900)
_______ _______ _______
11. Related party transactions
At the 31st January 2024, the company owed BMS Software Solutions (Northern) Limited (Co No 09262951), a company owned by the directors, £181,662 (2023 £189,845). No interest has been charged in respect of these loans which are repayable on demand. At the 31st January 2024 Mugla Limited (Co No 13598790), a company owned by the director, owed the company £7,000 (2023 £7,000). No interest has been charged in respect of these loans which are repayable on demand.