Von Schmidt Property Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14485755

Von Schmidt Property Limited

Filleted Unaudited Financial Statements

31 January 2025

Von Schmidt Property Limited

Statement of Financial Position

31 January 2025

	2025	2024
Note	£	£

Current assets

Stocks		177,044	79,056
Debtors	4	7,654	9,080
Cash at bank and in hand		152	2,460
		---------	--------
		184,850	90,596

Creditors: amounts falling due within one year	5	189,793	93,997
		---------	--------
Net current liabilities		4,943	3,401
		-------	-------
Total assets less current liabilities		( 4,943)	( 3,401)

Provisions	6	( 937)	( 644)
		-------	-------
Net liabilities		( 4,006)	( 2,757)
		-------	-------

Capital and reserves

Called up share capital	8	100	100
Profit and loss account		( 4,106)	( 2,857)
		-------	-------
Shareholders deficit		( 4,006)	( 2,757)
		-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

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

Von Schmidt Property Limited

Statement of Financial Position (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 30 October 2025 , and are signed on behalf of the board by:

J Barker

Director

Company registration number: 14485755

Von Schmidt Property Limited

Notes to the Financial Statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 3B Swallowfield Courtyard, Wolverhampton Road, Oldbury, West Midlands, B69 2JG, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on the going concern basis with the understanding that the directors and shareholders will continue to support the company for the foreseeable future.

Disclosure exemptions

The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under FRS102.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Debtors

	2025	2024
	£	£
Other debtors	7,654	9,080
	-------	-------

5. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	329	2,039
Accruals and deferred income	3,590	2,500
Director loan accounts	180,444	89,328
Other creditors	5,430	130
	---------	--------
	189,793	93,997
	---------	--------

6. Provisions

	Deferred tax (note 7)
	£
At 1 February 2024	( 644)
Additions	( 293)
	----
At 31 January 2025	( 937)
	----

7. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 6)	( 937)	( 644)
	----	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Unused tax losses	( 937)	( 644)
	----	----

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 1 each	90	90	90	90
Ordinary B shares of £ 1 each	10	10	10	10
	----	----	----	----
	100	100	100	100
	----	----	----	----

9. Directors' advances, credits and guarantees

At the year end the company owed an amount of £180,444 (2024: £89,328) to J Barker .

10. Related party transactions

Alinea 33:3 Limited Included within other debtors is a balance of £4,553 (2024: £4,553) owed by Alinea 33:3 Limited, a company in which J Barker is also a director. Von Schmidt Family Investments Limited Included within other creditors is a balance of £5,430 (2024: £130) owed to Von Schmidt Family Investments Limited, a company in which J Barker is also a director and shareholder.