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Registered Number: 11293664
England and Wales

 

 

 

SNICE RENT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 482,769    482,769 
482,769    482,769 
Current assets      
Debtors 4 50,000   
Cash at bank and in hand 6,662    89,554 
56,662    89,554 
Creditors: amount falling due within one year 5 (143,824)   (168,880)
Net current liabilities (87,162)   (79,326)
 
Total assets less current liabilities 395,607    403,443 
Creditors: amount falling due after more than one year 6 (403,992)   (412,052)
Net liabilities (8,385)   (8,609)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (8,485)   (8,710)
Shareholder's funds (8,385)   (8,610)
 


For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 03 October 2023 and were signed by:


-------------------------------
Sara Grain
Director
1
General Information
Snice Rent Limited is a private company, limited by shares, registered in England and Wales, registration number 11293664, registration address 2 Lukes Close, Hamble, Southampton, Hampshire, SO31 4PH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
As with most businesses the company has been impacted by the Coronavirus (Covid-19). This has had an impact on operations.. The Company is taking the steps it can to protect the future of the business and although the total impact is still uncertain the director believes that it is appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover comprises the amounts charged to tenants in respect of rent.
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, 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. 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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings N/A Reducing Balance
Improvements to property N/A Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Improvements to property   Total
  £   £   £
At 01 May 2022 334,489    148,280    482,769 
Additions    
Disposals    
At 30 April 2023 334,489    148,280    482,769 
Depreciation
At 01 May 2022    
Charge for year    
On disposals    
At 30 April 2023    
Net book values
Closing balance as at 30 April 2023 334,489    148,280    482,769 
Opening balance as at 01 May 2022 334,489    148,280    482,769 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors 50,000   
50,000   

5.

Creditors: amount falling due within one year

2023
£
  2022
£
PAYE & Social Security 293    456 
Accrued Expenses 1,962    1,728 
Directors' Current Accounts 141,569    166,696 
143,824    168,880 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 14,205    28,064 
Bank Loans & Overdrafts 389,787    383,988 
403,992    412,052 

7.

Directors Advances, Credits & Guarantees

Included in creditors: amounts due within one year, are amounts owed to the Director of £141,569 (2022: £166,696).

8.

Disclosure of Controlling Party

For the whole of the period under review the company was under the control of Sara Grain, director of the company.

2