SCH Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06769747 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2022

for

SCH Enterprises Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S Hambury

Mrs C J Hambury

REGISTERED OFFICE:

The Technology Centre

Station Road

Framlingham

Woodbridge

Suffolk

IP13 9EZ

REGISTERED NUMBER:

06769747 (England and Wales)

ACCOUNTANTS:

Black Barn Accountants Ltd

The Technology Centre

Station Road

Framlingham

Woodbridge

Suffolk

IP13 9EZ

FIXED ASSETS

Intangible assets

4

39,967

49,055

Tangible assets

5

181,644

186,020

221,611

235,075

CURRENT ASSETS

Stocks

208,050

208,469

Debtors

6

32,211

34,926

Cash at bank and in hand

475,499

521,147

715,760

764,542

CREDITORS

Amounts falling due within one year

7

70,812

72,354

NET CURRENT ASSETS

644,948

692,188

TOTAL ASSETS LESS CURRENT LIABILITIES

866,559

927,263

PROVISIONS FOR LIABILITIES

3,557

4,369

NET ASSETS

863,002

922,894

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

863,000

922,892

SHAREHOLDERS' FUNDS

863,002

922,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 30 March 2022 and were signed on its behalf by:

Mr S Hambury - Director

1.	STATUTORY INFORMATION

SCH Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase & leasing commitments

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

Pension costs & other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development costs are being amortised evenly over their estimated useful life of three years.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2021 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 February 2021

and 31 January 2022

60,000

63,161

123,161

AMORTISATION

At 1 February 2021

19,200

54,906

74,106

Charge for year

2,400

6,688

9,088

At 31 January 2022

21,600

61,594

83,194

NET BOOK VALUE

At 31 January 2022

38,400

1,567

39,967

At 31 January 2021

40,800

8,255

49,055

5.	TANGIBLE FIXED ASSETS

Freehold

Fixtures

Computer

property

& fittings

equipment

Totals

£

£

£

£

COST

At 1 February 2021

162,452

55,167

34,210

251,829

Additions

-

169

3,179

3,348

At 31 January 2022

162,452

55,336

37,389

255,177

DEPRECIATION

At 1 February 2021

-

39,048

26,761

65,809

Charge for year

-

4,033

3,691

7,724

At 31 January 2022

-

43,081

30,452

73,533

NET BOOK VALUE

At 31 January 2022

162,452

12,255

6,937

181,644

At 31 January 2021

162,452

16,119

7,449

186,020

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Trade debtors

18,243

31,963

Other debtors

13,968

2,963

32,211

34,926

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Trade creditors

25,641

27,932

Taxation & social security

35,495

21,436

Other creditors

9,676

22,986

70,812

72,354

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.22

31.1.21

value:

£

£

2

Ordinary Share Capital

1

2

2

9.

RESERVES

Retained

earnings

£

At 1 February 2021

922,892

Profit for the year

22,108

Dividends

(82,000

)

At 31 January 2022

863,000