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SCHATZBERGER LIMITED

Registered Number
12137051
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

SCHATZBERGER LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

SCHATZBERGER, Thomas William, Dr

Registered Address

C/O Armstrong Watson First Floor
One Strawberry Lane
Newcastle Upon Tyne
NE1 4BX

Registered Number

12137051 (England and Wales)
SCHATZBERGER LIMITED
Statement of Financial Position
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3395585
Investment property459,29559,295
59,69059,880
Current assets
Debtors54,850-
Cash at bank and on hand38,2842,162
43,1342,162
Creditors amounts falling due within one year6(28,171)(23,927)
Net current assets (liabilities)14,963(21,765)
Total assets less current liabilities74,65338,115
Creditors amounts falling due after one year7(40,138)-
Net assets34,51538,115
Capital and reserves
Called up share capital100100
Profit and loss account34,41538,015
Shareholders' funds34,51538,115
The financial statements were approved and authorised for issue by the Director on 20 January 2025, and are signed on its behalf by:
SCHATZBERGER, Thomas William, Dr
Director
Registered Company No. 12137051
SCHATZBERGER LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. These financial statements for the year ended 31 August 2024 are the company’s first financial statements that comply with FRS 102. The company’s date of transition to FRS 102 is 1 September 2023. Its last financial statements prepared in accordance with FRS 105 were for the year ended 31 August 2023. The transition to FRS 102 has resulted in the following changes to accounting policies and notes: Investment properties: Under the entity’s previous financial reporting framework, investment properties were measured at open market value, with changes in value taken direct to an investment property revaluation reserve. Under FRS 102, investment properties are included in the balance sheet at fair value. Changes in fair value are recognised in profit or loss.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
The turnover shown in the profit and loss account represents rents receivable during the period.
Current taxation
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
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment5
Investment property
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 September 23949949
At 31 August 24949949
Depreciation and impairment
At 01 September 23364364
Charge for year190190
At 31 August 24554554
Net book value
At 31 August 24395395
At 31 August 23585585
4.Investment property
The director considers that £59,295 is a fair representation of fair value at the year end based on market value for existing use. On a historical cost basis the investment property would have been included at an original cost of £59,295.

£
Fair value at 01 September 2359,295
At 31 August 2459,295
5.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income4,850-
Total4,850-
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security-204
Other creditors26,97122,583
Accrued liabilities and deferred income1,2001,140
Total28,17123,927
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts40,138-
Total40,138-
8.Creditors: amounts due after 5 years
Bank borrowing due after more than five years amount to £40,000.
9.Secured creditors
Bank borrowings are secured on the investment property.
10.Related party transactions
During the year, a company under common control paid expenses totalling £4,500 on behalf of Schatzberger Limited. As at 31 August 2024, Schatzberger Ltd owed this company £4,500. During the period a director had a loan account with the company. As at 31 August 2024 the company owed this director £22,471.