Schucki-Poster Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 04979861 (England and Wales)
Schucki-Poster Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Schucki-Poster Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
14,579
8,318
Cash at bank and in hand
17,353
14,579
25,671
Creditors: amounts falling due within one year
4
(20,391)
(22,339)
Net current (liabilities)/assets
(5,812)
3,332
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(5,813)
3,331
Total equity
(5,812)
3,332
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 December 2024
J Schuckert
Director
Company Registration No. 04979861
Schucki-Poster Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information
Schucki-Poster Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Going concern
Although the company is in a net liabilities position at year end, the director considertrues the company to remain a going concern. The company is supported in its trade by loans from related parties, who have confirmed they will not recall the loans until the company is in a position to be able to repay its loans without impacting adversely on its ability to pay its other creditors as they fall due, for a period of at least 12 months from the date of signing of these financial statements. The director has therefore continued to prepare the financial statements on a going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Schucki-Poster Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 3
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2022 - 0). Workers are engaged on an ad-hoc basis as required, and the director is remunerated by a related party.
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
2,145
Other debtors
12,434
8,318
14,579
8,318
Schucki-Poster Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 4
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
34
Corporation tax
2,307
Other taxation and social security
1,321
Other creditors
14,466
15,711
Accruals and deferred income
5,891
3,000
20,391
22,339
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
Schucki-Poster Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
6
Related party transactions
At the year end, the director was owed £1,149 (2022: £730) by the company.
Schucki-Poster A company registered in Konstaz, Germany, controlled by director J Schuckert
During the year Schucki-Poster Limited advanced £nil to Schucki Poster (2022: advanced £12,944). At the balance sheet date Schucki-Poster Limited was due £8,737 (owed to 2022: £8,319) from Schucki-Poster.
Schucki-Poster Inc. A company incorporated in the USA controlled by director J Schuckert
At the balance sheet date, Schucki-Poster Limited owed £12,333 (2022: £12,333) to Schucki-Poster Inc.
7
Ultimate controlling party
The ultimate controlling party is director J Schuckert by virtue of his ownership of 100% of the issued share capital of the company.