Schilter Limited 07133760 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is letting of property Digita Accounts Production Advanced 6.30.9574.0 true true true 07133760 2023-06-01 2024-05-31 07133760 2024-05-31 07133760 core:CurrentFinancialInstruments 2024-05-31 07133760 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 07133760 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-05-31 07133760 core:OtherRelatedParties 2024-05-31 07133760 bus:SmallEntities 2023-06-01 2024-05-31 07133760 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 07133760 bus:FilletedAccounts 2023-06-01 2024-05-31 07133760 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07133760 bus:RegisteredOffice 2023-06-01 2024-05-31 07133760 bus:Director1 2023-06-01 2024-05-31 07133760 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07133760 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-01 2024-05-31 07133760 core:OtherRelatedParties 2023-06-01 2024-05-31 07133760 1 2023-06-01 2024-05-31 07133760 countries:EnglandWales 2023-06-01 2024-05-31 07133760 2023-05-31 07133760 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-31 07133760 core:OtherRelatedParties 2023-05-31 07133760 2022-06-01 2023-05-31 07133760 2023-05-31 07133760 core:CurrentFinancialInstruments 2023-05-31 07133760 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 07133760 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-31 07133760 core:OtherRelatedParties 2023-05-31 07133760 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-06-01 2023-05-31 07133760 core:OtherRelatedParties 2022-06-01 2023-05-31 07133760 2022-05-31 07133760 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-05-31 07133760 core:OtherRelatedParties 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 07133760

Schilter Limited
Annual Report and
Unaudited Financial Statements

31 May 2024

 

Schilter Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Schilter Limited

Balance Sheet
31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

240,706

240,706

Current assets

 

Debtors

5

431

399

Cash at bank and in hand

 

77,421

58,646

 

77,852

59,045

Creditors: Amounts falling due within one year

6

(211,661)

(210,161)

Net current liabilities

 

(133,809)

(151,116)

Net assets

 

106,897

89,590

Capital and reserves

 

Called up share capital

1

1

Retained earnings

106,896

89,589

Shareholders' funds

 

106,897

89,590

 

Schilter Limited

Balance Sheet
31 May 2024

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 October 2024
 

.........................................
Mr C Schofield
Director

Company Registration Number: 07133760

 

Schilter Limited

Notes to the Unaudited Financial Statements
Year Ended 31 May 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tower House
269 Walmersley Road
Bury
Lancashire
BL9 6NX
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Schilter Limited

Notes to the Unaudited Financial Statements
Year Ended 31 May 2024

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

Schilter Limited

Notes to the Unaudited Financial Statements
Year Ended 31 May 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Short term debtors are measured at transaction price less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2023 - 1).

 

Schilter Limited

Notes to the Unaudited Financial Statements
Year Ended 31 May 2024

4

Investment properties

2024
£

At 1 June

240,706

At 31 May

240,706

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

2023
£

Prepayments

431

399

 

431

399

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

6,199

5,748

Accruals and deferred income

1,541

1,440

Other creditors

203,921

202,973

211,661

210,161

 

Schilter Limited

Notes to the Unaudited Financial Statements
Year Ended 31 May 2024

7

Related party transactions

Loans from related parties

2024

Key management
£

Other related parties
£

Total
£

At start of period

95,473

100,000

195,473

Advanced

1,035

-

1,035

Interest transactions

(87)

-

(87)

At end of period

96,421

100,000

196,421

2023

Key management
£

Other related parties
£

Total
£

At start of period

243,661

-

243,661

Advanced

-

100,000

100,000

Repaid

(150,000)

-

(150,000)

Interest transactions

1,812

-

1,812

At end of period

95,473

100,000

195,473

8

Control

The ultimate controlling party is the director by virtue of his shareholding in the parent company Crastone Limited.