REGISTRAR
Company registration number:
07479709
Sch 5 Management Limited
Unaudited filleted financial statements
27 March 2021
Sch 5 Management Limited
Contents
Statement of financial position
Notes to the financial statements
Sch 5 Management Limited
Statement of financial position
27 March 2021
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27/03/21
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29/03/20
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Note
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£
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£
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£
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£
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Current assets
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Debtors
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4
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9,105
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12,501
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Cash at bank and in hand
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145
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148
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_______
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_______
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9,250
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12,649
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Creditors: amounts falling due
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within one year
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5
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(
3,812)
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(
7,970)
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_______
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_______
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Net current assets
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5,438
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4,679
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_______
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_______
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Total assets less current liabilities
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5,438
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4,679
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Creditors: amounts falling due
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after more than one year
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6
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-
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(
2,812)
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_______
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_______
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Net assets
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5,438
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1,867
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_______
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_______
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Capital and reserves
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Called up share capital
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7
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1
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1
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Profit and loss account
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5,437
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1,866
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_______
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_______
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Shareholders funds
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5,438
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1,867
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_______
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_______
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For the period ending 27 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
06 September 2022
, and are signed on behalf of the board by:
A N Hutchison
Director
Company registration number:
07479709
Sch 5 Management Limited
Notes to the financial statements
Period ended 27 March 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, Highland House, Highlands Road, Shirley, Solihull, England, B90 4ND.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.The accounts are rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4.
Debtors
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27/03/21
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29/03/20
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£
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£
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Other debtors
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9,105
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12,501
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_______
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_______
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5.
Creditors: amounts falling due within one year
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27/03/21
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29/03/20
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£
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£
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Bank loans and overdrafts
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646
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3,348
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Corporation tax
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1,584
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594
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Social security and other taxes
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632
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632
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Other creditors
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950
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3,396
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_______
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_______
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3,812
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7,970
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_______
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_______
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6.
Creditors: amounts falling due after more than one year
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27/03/21
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29/03/20
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£
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£
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Bank loans and overdrafts
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-
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2,812
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_______
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_______
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7.
Called up share capital
Issued, called up and fully paid
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27/03/21
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29/03/20
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No
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£
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No
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£
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Ordinary shares
shares of £
1.00 each
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1
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1
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1
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1
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_______
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_______
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_______
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8.
Directors advances, credits and guarantees
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During the period the director entered into the following advances and credits with the company:
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Period ended 27/03/21
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Balance brought forward
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Amounts repaid
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Balance o/standing
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£
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£
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£
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A N Hutchison
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10,957
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(
3,396)
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7,561
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_______
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_______
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_______
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Year ended 29/03/20
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Balance brought forward
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Amounts repaid
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Balance o/standing
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£
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£
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£
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A N Hutchison
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10,957
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-
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10,957
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_______
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_______
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_______
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