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REGISTERED NUMBER: 05238489 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SCHLICH LIMITED

SCHLICH LIMITED (REGISTERED NUMBER: 05238489)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SCHLICH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr G W Schlich
Mr A Bajjon





REGISTERED OFFICE: 9 St Catherine's Road
Littlehampton
West Sussex
BN17 5HS





REGISTERED NUMBER: 05238489 (England and Wales)





ACCOUNTANTS: Richardson Jones
Chartered Accountants
Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN

SCHLICH LIMITED (REGISTERED NUMBER: 05238489)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 100,000
Tangible assets 5 797,108 851,215
Investments 6 132,909 276,842
930,017 1,228,057

CURRENT ASSETS
Debtors 7 1,156,750 948,673
Cash at bank and in hand 297,937 346,369
1,454,687 1,295,042
CREDITORS
Amounts falling due within one year 8 650,543 572,776
NET CURRENT ASSETS 804,144 722,266
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,734,161

1,950,323

CREDITORS
Amounts falling due after more than one year 9 (271,248 ) (311,675 )

PROVISIONS FOR LIABILITIES (27,734 ) (56,250 )
NET ASSETS 1,435,179 1,582,398

CAPITAL AND RESERVES
Called up share capital 1,400 1,010
Revaluation reserve 11 245,253 245,253
Retained earnings 1,188,526 1,336,135
SHAREHOLDERS' FUNDS 1,435,179 1,582,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

SCHLICH LIMITED (REGISTERED NUMBER: 05238489)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:




Mr G W Schlich - Director



Mr A Bajjon - Director


SCHLICH LIMITED (REGISTERED NUMBER: 05238489)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Schlich 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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - Straight line over 3 years

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.

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 24 (2023 - 23 ) .

SCHLICH LIMITED (REGISTERED NUMBER: 05238489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 300,000
Additions 15,503
At 31 March 2024 315,503
AMORTISATION
At 1 April 2023 200,000
Charge for year 115,503
At 31 March 2024 315,503
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 100,000

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 906,288 34,060 50,185 77,065 1,067,598
Additions - 8,494 - 1,523 10,017
Disposals - - - (1,354 ) (1,354 )
At 31 March 2024 906,288 42,554 50,185 77,234 1,076,261
DEPRECIATION
At 1 April 2023 134,092 21,762 3,137 57,392 216,383
Charge for year 36,252 5,817 12,546 8,293 62,908
Eliminated on disposal - - - (138 ) (138 )
At 31 March 2024 170,344 27,579 15,683 65,547 279,153
NET BOOK VALUE
At 31 March 2024 735,944 14,975 34,502 11,687 797,108
At 31 March 2023 772,196 12,298 47,048 19,673 851,215

SCHLICH LIMITED (REGISTERED NUMBER: 05238489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 276,842
Impairments (143,933 )
At 31 March 2024 132,909
NET BOOK VALUE
At 31 March 2024 132,909
At 31 March 2023 276,842

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2017 (7,138 )
Valuation in 2019 (10,271 )
Valuation in 2020 (12,683 )
Valuation in 2021 137,579
Valuation in 2022 (1,806 )
Valuation in 2024 (143,933 )
Cost 171,161
132,909

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 758,833 534,745
Amounts recoverable on contract 374,726 401,977
Other debtors 23,191 11,951
1,156,750 948,673

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 38,986 34,391
Trade creditors 263,005 177,200
Taxation and social security 311,296 214,560
Other creditors 37,256 146,625
650,543 572,776

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 271,248 311,675

SCHLICH LIMITED (REGISTERED NUMBER: 05238489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.24 31.3.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 88,711 121,750

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 190,852 213,257

The bank loans are secured by a fixed charges over the freehold property at 34 New Road, Littlehampton, West Sussex and 9 St Catherine's Road, Littlehampton, West Sussex.The director has also provided a personal guarantee.

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 245,253