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Registered Number: 05354364


 

 

 

SCHOFIELD'S RECLAMATION LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Directors Edwin Schofield
Janet Schofield
Richard Schofield
Richard Schofield
Edwin Schofield
Janet Elizabeth Schofield
Registered Number 05354364
Registered Office The Bungalow
Queen Street
Swinton
South Yorks
S64 8PG
Accountants Patten Accountancy Services
1 Cambridge Close
Harlington
Doncaster
South Yorkshire
DN5 7JX
1
Director's report and financial statements
The directors present their annual report and the financial statements for the period ended 31 January 2021
Principal activities
Principal activity of the company during the financial year was timber stone and slate reclamation, sales and construction.
Directors
The directors who served the company throughout the year were as follows:Mr E Schofield                       
Mrs J Schofield                       
Mr R Schofield                       

Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Edwin Schofield
Director

Date approved: 30 May 2025
2
Accountants report
You consider that the company is exempt from an audit for the year ended 31 August 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Patten Accountancy Services
31 August 2024



....................................................
Patten Accountancy Services
1 Cambridge Close
Harlington
Doncaster
South Yorkshire
DN5 7JX
30 May 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 218,589    239,779 
218,589    239,779 
Current assets      
Stocks 4 88,246    88,246 
Debtors 5 10,561    7,093 
Cash at bank and in hand 265,606    232,748 
364,413    328,087 
Creditors: amount falling due within one year 6 (50,336)   (68,015)
Net current assets 314,077    260,072 
 
Total assets less current liabilities 532,666    499,851 
Creditors: amount falling due after more than one year 7 (61,062)   (76,230)
Net assets 471,604    423,621 
 

Capital and reserves
     
Called up share capital 8 1,000    1,000 
Profit and loss account 470,604    422,621 
Shareholders' funds 471,604    423,621 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 May 2025 and were signed on its behalf by:


-------------------------------
Edwin Schofield
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 September 2022 1,000  412,300  413,300 
Profit for the year 34,911  34,911 
Total comprehensive income for the year 34,911  34,911 
Dividends (24,590) (24,590)
Total investments by and distributions to owners (24,590) (24,590)
At 31 August 2023 1,000  422,621  423,621 
At 01 September 2023 1,000  424,262  425,262 
Profit for the year 46,342  46,342 
Total comprehensive income for the year 46,342  46,342 
Total investments by and distributions to owners
At 31 August 2024 1,000  470,604  471,604 
5
General Information
Schofield's Reclamation Limited is a private company, limited by shares, registered in , registration number 05354364, registration address The Bungalow, Queen Street, Swinton, South Yorks, S64 8PG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 3% Reducing Balance
Plant and Machinery 18% Reducing Balance
Motor Vehicles 8% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees



Average number of employees during the year was 16 (2023 : 15).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Total
  £   £   £   £
At 01 September 2023 36,237    86,644    290,092    412,973 
Additions (3,400)   8,000    28,495    33,095 
Disposals     (36,876)   (36,876)
At 31 August 2024 32,837    94,644    281,711    409,192 
Depreciation
At 01 September 2023 2,305    74,717    96,172    173,194 
Charge for year 935    9,478    16,865    27,278 
On disposals     (9,869)   (9,869)
At 31 August 2024 3,240    84,195    103,168    190,603 
Net book values
Closing balance as at 31 August 2024 29,597    10,449    178,543    218,589 
Opening balance as at 01 September 2023 33,932    11,927    193,920    239,779 


4.

Stocks

2024
£
  2023
£
Raw Materials 88,246    88,246 
88,246    88,246 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 8,013    4,988 
Advance Received   (1)
Other Debtors   2,040 
PAYE & NIC 542   
CIS Control Account 2,006   
Directors' Current Accounts   66 
10,561    7,093 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 22,650    20,611 
Corporation Tax 18,592    34,680 
PAYE & NIC   2,725 
Advance Paid (2,286)   652 
Other Creditors (1)   1 
Wages & Salaries Control Account (162)   (318)
VAT 11,543    9,664 
50,336    68,015 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 18,083    28,083 
Obligations Under HP/Financial Leases 42,979    48,147 
61,062    76,230 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
999 Class A shares of £1.00 each 999    999 
999    999 

6