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Registered number: 03587296









SCHMIDT TECHNOLOGY LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SCHMIDT TECHNOLOGY LIMITED
REGISTERED NUMBER: 03587296

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
16,897
18,565

Cash at bank and in hand
 5 
174,047
167,804

  
190,944
186,369

Creditors: amounts falling due within one year
 6 
(12,073)
(12,290)

Net current assets
  
 
 
178,871
 
 
174,079

Net assets
  
178,871
174,079


Capital and reserves
  

Called up share capital 
  
200,000
200,000

Profit and loss account
  
(21,129)
(25,921)

  
178,871
174,079


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: 




................................................
S H Schmidt
Director

Date: 9 May 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
SCHMIDT TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

SCHMIDT Technology Limited (the Company) is a company incorporated in the United Kingdom under the Companies Act.
The Company is a private company limited by shares and is registered in England and Wales.  The address of the Company's registered office is Suite 4, 7th Floor 50 Broadway, London, United Kigdon SW1H 0DB.
The principal activity of the year under review was that of providing marketing and sales support to the parent company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the forseeable future and thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. 
The directors of the Company has received confirmation of continued financial support for the foreseeable future from the parent company, Schmidt Technology GmbH.

 
2.3

Revenue

Turnover represents amounts charged to the parent entity under a services agreement exclusive of value added tax. Turnover is recognised when chargeable expenses are incurred.

 
2.4

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.

Page 2

 
SCHMIDT TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

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.


 
2.6

Debtors

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

 
2.7

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.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
15,485
16,276

Other debtors
645
1,538

Prepayments
767
751

16,897
18,565


Page 3

 
SCHMIDT TECHNOLOGY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
174,047
167,804



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
984
2,406

Corporation tax
1,042
1,228

Other taxation and social security
841
779

Other creditors
676
677

Accruals
8,530
7,200

12,073
12,290




7.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administred fund.  The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,565 (2023 - £2,376) Contributions totalling £676 (2023 - £677) were payable to the fund at the balance sheet date and included in creditors.


8.


Controlling party

The ultimate parent company and controlling party is SCHMIDT Technology GmbH, a company registered in Germany.  No individual is deemed to have ultimate control of SCHMIDT Technology GmbH. 
The largest and smallest group in which the results of the company are consolidated is SCHMIDT Technology GmbH. Its principal place of business is Feldbergstrasse 1, 78112 St. Georgen, Germany.


9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 9 May 2025 by Anthony Campbell (Senior Statutory Auditor) on behalf of Nortons Assurance Limited.

 
Page 4