Caseware UK (AP4) 2024.0.164 2024.0.164 2024-04-302024-04-308falseThe principal activity of the company during the year is that of specialty design consultants and mechanised artwork fabrication.92023-05-01falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05428163 2023-05-01 2024-04-30 05428163 2022-05-01 2023-04-30 05428163 2024-04-30 05428163 2023-04-30 05428163 2022-05-01 05428163 c:CompanySecretary1 2023-05-01 2024-04-30 05428163 c:Director1 2023-05-01 2024-04-30 05428163 c:Director2 2023-05-01 2024-04-30 05428163 c:RegisteredOffice 2023-05-01 2024-04-30 05428163 d:OfficeEquipment 2023-05-01 2024-04-30 05428163 d:OfficeEquipment 2024-04-30 05428163 d:OfficeEquipment 2023-04-30 05428163 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05428163 d:ComputerEquipment 2023-05-01 2024-04-30 05428163 d:ComputerEquipment 2024-04-30 05428163 d:ComputerEquipment 2023-04-30 05428163 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05428163 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05428163 d:CurrentFinancialInstruments 2024-04-30 05428163 d:CurrentFinancialInstruments 2023-04-30 05428163 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 05428163 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 05428163 d:ShareCapital 2024-04-30 05428163 d:ShareCapital 2023-04-30 05428163 d:ShareCapital 2022-05-01 05428163 d:CapitalRedemptionReserve 2024-04-30 05428163 d:CapitalRedemptionReserve 2023-04-30 05428163 d:CapitalRedemptionReserve 2022-05-01 05428163 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 05428163 d:RetainedEarningsAccumulatedLosses 2024-04-30 05428163 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 05428163 d:RetainedEarningsAccumulatedLosses 2023-04-30 05428163 d:RetainedEarningsAccumulatedLosses 2022-05-01 05428163 c:OrdinaryShareClass2 2023-05-01 2024-04-30 05428163 c:OrdinaryShareClass2 2024-04-30 05428163 c:OrdinaryShareClass2 2023-04-30 05428163 c:OrdinaryShareClass3 2023-05-01 2024-04-30 05428163 c:OrdinaryShareClass3 2024-04-30 05428163 c:OrdinaryShareClass3 2023-04-30 05428163 c:FRS102 2023-05-01 2024-04-30 05428163 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05428163 c:FullAccounts 2023-05-01 2024-04-30 05428163 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05428163 d:WithinOneYear 2024-04-30 05428163 d:WithinOneYear 2023-04-30 05428163 d:BetweenOneFiveYears 2024-04-30 05428163 d:BetweenOneFiveYears 2023-04-30 05428163 2 2023-05-01 2024-04-30 05428163 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05428163









OPERATION:SCHOENER LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
OPERATION:SCHOENER LIMITED
 
 
COMPANY INFORMATION


Directors
J Koch 
F G W Ortkrass 




Company secretary
F G W Ortkrass



Registered number
05428163



Registered office
Eighth Floor
6 New Street Square

New Fetter Lane

London

EC4A 3AQ





 
OPERATION:SCHOENER LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 11


 
OPERATION:SCHOENER LIMITED
REGISTERED NUMBER: 05428163

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,091
5,486

  
7,091
5,486

Current assets
  

Stocks
 5 
2,305,726
2,082,641

Debtors: amounts falling due within one year
 6 
173,795
99,737

Cash at bank and in hand
 7 
34,183
22,798

  
2,513,704
2,205,176

Creditors: amounts falling due within one year
 8 
(2,863,845)
(3,301,279)

Net current liabilities
  
 
 
(350,141)
 
 
(1,096,103)

Total assets less current liabilities
  
(343,050)
(1,090,617)

  

Net liabilities
  
(343,050)
(1,090,617)


Capital and reserves
  

Called up share capital 
 9 
2
2

Capital redemption reserve
  
1
1

Profit and loss account
  
(343,053)
(1,090,620)

  
(343,050)
(1,090,617)


Page 1

 
OPERATION:SCHOENER LIMITED
REGISTERED NUMBER: 05428163
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




F G W Ortkrass
J Koch
Director
Director


Date: 27 January 2025
Date:27 January 2025

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
OPERATION:SCHOENER LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£


At 1 May 2022
2
1
(1,293,056)
(1,293,053)



Profit for the year
-
-
202,436
202,436



At 1 May 2023
2
1
(1,090,620)
(1,090,617)



Profit for the year
-
-
747,567
747,567


At 30 April 2024
2
1
(343,053)
(343,050)


The notes on pages 4 to 11 form part of these financial statements.



Page 3

 
OPERATION:SCHOENER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Operation:Schoener Limited ("the company") is a private company limited by shares, incorporated in England and Wales with registration number 05428163. The registered office address is Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention 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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.  After reviewing the working capital requirements of the company, the directors have agreed to provide such support to the company as is necessary for it to meet its liabilities for a period of at least twelve months from the date of signing of these financial statements. In the opinion of the directors, the company will be able to meet its liabilities as they fall due for a period of twelve months from the date of signing of these financial statements from its operational cashflows and, if necessary, by exhausting all avenues available to the company in terms of other assets and external sources of financial support provided on such terms as might be agreed at such times.

Page 4

 
OPERATION:SCHOENER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 
OPERATION:SCHOENER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Long term contracts
When the outcome of a contract can be estimated reliably, contract costs and revenue are recognised by reference to the stage of completion at the balance sheet date.
Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract revenue is recognised to the extent of costs incurred that it is probable will be recoverable.
When it is probable that contract costs will exceed the total contract revenue, the expected loss is recognised as an expense immediately, with a corresponding provision.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 6

 
OPERATION:SCHOENER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Office equipment
-
20%
on reducing balance
Computer equipment
-
25%
straight line

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.

 
2.12

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an apportionment of costs which relate to projects spanning the balance sheet date which have not yet been completed.

Page 7

 
OPERATION:SCHOENER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 9).

Page 8

 
OPERATION:SCHOENER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
22,513
105,282
127,795


Additions
-
3,298
3,298


Disposals
-
(69,894)
(69,894)



At 30 April 2024

22,513
38,686
61,199



Depreciation


At 1 May 2023
19,104
103,205
122,309


Charge for the year on owned assets
682
1,011
1,693


Disposals
-
(69,894)
(69,894)



At 30 April 2024

19,786
34,322
54,108



Net book value



At 30 April 2024
2,727
4,364
7,091



At 30 April 2023
3,409
2,077
5,486

Page 9

 
OPERATION:SCHOENER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Stocks

2024
2023
£
£

Work in progress
372,457
410,872

Completed artworks
1,933,269
1,671,769

2,305,726
2,082,641


6.


Debtors

2024
2023
£
£


Trade debtors
106,452
24,170

Other debtors
34,037
74,980

Prepayments and accrued income
33,306
587

173,795
99,737



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
34,183
22,798



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
170,349
212,104

Corporation tax
145
-

Other taxation and social security
3,867
52,225

Other creditors
2,556,953
2,643,764

Accruals and deferred income
132,531
393,186

2,863,845
3,301,279


Included within Other creditors is an amount of £2,444,362 (2023 - £2,426,700) due to a client of the company. This amount was secured by way of a fixed and floating charge over an asset of the company.


9.


Share capital

Page 10

 
OPERATION:SCHOENER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) F Ordinary share of £1
1
1
1 (2023 - 1) H Ordinary share of £1
1
1

2

2



10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. Contributions totalling £1,537 (2023 - £1,508) were payable to the fund at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

At 30 April 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
59,400
58,163

Later than 1 year and not later than 5 years
39,600
99,000

99,000
157,163

 
Page 11