Company Registration No. 06595422 (England and Wales)
Schrego Communications Limited
Unaudited accounts
for the year ended 31 March 2020
Schrego Communications Limited
Unaudited accounts
Contents
Schrego Communications Limited
Company Information
for the year ended 31 March 2020
Director
Gottfried Schrempf
Company Number
06595422 (England and Wales)
Registered Office
International House
24 Holborn Viaduct
London
England
EC1A 2BN
United Kingdom
Accountants
Florin Consulting Limited
Flat 1
29 Manchester Street
London
W1U 7LE
Schrego Communications Limited
Statement of financial position
as at
31 March 2020
Cash at bank and in hand
168,905
205,479
Creditors: amounts falling due within one year
(327,297)
(387,106)
Net current assets
132,300
212,828
Net assets
132,300
212,828
Called up share capital
76
76
Capital redemption reserve
76,675
76,675
Profit and loss account
55,549
136,077
Shareholders' funds
132,300
212,828
For the year ending 31 March 2020 the company was entitled to exemption from audit 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 director acknowledges his 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 the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 December 2020 and were signed on its behalf by
Gottfried Schrempf
Director
Company Registration No. 06595422
Schrego Communications Limited
Notes to the Accounts
for the year ended 31 March 2020
Schrego Communications Limited is a private company, limited by shares, registered in England and Wales, registration number 06595422. The registered office is International House, 24 Holborn Viaduct, London, England, EC1A 2BN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The company has changed its accounting reference date from 31 January to 31 March. The current accounts represent an extended accounting period of 14 months ending 31 March 2017, whereas the comparative period is the year ended 31 January 2016.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
The company currently holds no tangible fixed assets.
Prior period tangible assets are included at cost less depreciation and impairment. Depreciation was provided at the following rates in order to write off the assets over their estimated useful lives:
Other tangible fixed assets
(Software) 33%
The company holds no intangible fixed assets.
Prior period intangible fixed assets (including purchased goodwill and patents) were included at cost less accumulated amortisation.
Schrego Communications Limited
Notes to the Accounts
for the year ended 31 March 2020
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
As at 31 March 2019 there is no deferred tax balance.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Fixed term, fixed interest loan (see note below)
201,665
-
-
201,665
On 11 February 2019 the company made a fixed term, fixed interest loan to the sole director and shareholder for the sum of EUR230,000 repayable on 27 December 2019 including interest at 2.5% of EUR4,798. The loan was repaid on time in accordance with the loan agreement. The loan in included in the balance sheet within other debtors (current assets).
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Transactions with related parties
On 11 February 2019 the company made a fixed term, fixed interest loan to the sole director and shareholder for the sum of EUR230,000 repayable on 27 December 2019 including interest at 2.5% of EUR4,798. The loan was repaid on time in accordance with the loan agreement.
6
Average number of employees
During the year the average number of employees was 0 (2019: 0).