SCHMODEL LIMITED

Company Registration Number:
09133270 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

SCHMODEL LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

SCHMODEL LIMITED

Balance sheet

As at 31 December 2024


Notes
2024
2023


£
£
Current assets
Debtors: 3 336,378 689,980
Cash at bank and in hand: 14,709 19,530
Total current assets: 351,087 709,510
Creditors: amounts falling due within one year: 4 (1,514,294) (1,950,774)
Net current assets (liabilities): (1,163,207) (1,241,264)
Total assets less current liabilities: (1,163,207) (1,241,264)
Creditors: amounts falling due after more than one year: 5 (5,548,524) (8,423,466)
Total net assets (liabilities): (6,711,731) (9,664,730)
Capital and reserves
Called up share capital: 10,000 100
Share premium account: 4,940,100
Profit and loss account: (11,661,831) (9,664,830)
Shareholders funds: (6,711,731) (9,664,730)

The notes form part of these financial statements

SCHMODEL LIMITED

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 December 2025
and signed on behalf of the board by:

Name: RAlph Karam
Status: Director

The notes form part of these financial statements

SCHMODEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: - the Company has transferred the significant risks and rewards of ownership to the buyer; - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the transaction; and - the costs incurred or to be incurred in respect of the transaction can be measured reliably. 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.

Tangible fixed assets and depreciation policy

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, using the straight-line method. Depreciation is provided on the following basis: Office equipment - Three years Computer equipment - Three years 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 profit or loss.

Valuation and information policy

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.

Other accounting policies

Going concern The company has reported a loss for the period of £1,997,001 (2023: £925,129) and has net liabilities at the balance sheet date of £6,711,731 (2023:£9,664,730). The company is therefore dependent on the shareholder for continuing support. The shareholder has confirmed the ongoing support for the company. 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. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. 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. 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.

SCHMODEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

2024 2023
Average number of employees during the period 0 0

SCHMODEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Debtors

Debtors due within 1 year: 2024: 336,378 --- 2023: 689,980

SCHMODEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Creditors: amounts falling due within one year note

2024: 1,514,294

SCHMODEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due after more than one year note

2024: 5,548,524

SCHMODEL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: At the balance sheet date, the Company owed £1,779,584 (2023: £928,952) to the ultimate beneficial owner.
£
Balance at 01 January 2024 1,779,584
Balance at 31 December 2024 928,952