Silverfin false 31/03/2023 01/04/2022 31/03/2023 B Greenock 29/03/2019 C McKenna 29/03/2019 26 October 2023 The principal activity of the Company during the financial year continued to be that of providing personalised client and employee gifts. SC625939 2023-03-31 SC625939 bus:Director1 2023-03-31 SC625939 bus:Director2 2023-03-31 SC625939 2022-03-31 SC625939 core:CurrentFinancialInstruments 2023-03-31 SC625939 core:CurrentFinancialInstruments 2022-03-31 SC625939 core:Non-currentFinancialInstruments 2023-03-31 SC625939 core:Non-currentFinancialInstruments 2022-03-31 SC625939 core:ShareCapital 2023-03-31 SC625939 core:ShareCapital 2022-03-31 SC625939 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC625939 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC625939 core:ComputerSoftware 2022-03-31 SC625939 core:ComputerSoftware 2023-03-31 SC625939 core:LandBuildings 2022-03-31 SC625939 core:OfficeEquipment 2022-03-31 SC625939 core:ComputerEquipment 2022-03-31 SC625939 core:LandBuildings 2023-03-31 SC625939 core:OfficeEquipment 2023-03-31 SC625939 core:ComputerEquipment 2023-03-31 SC625939 bus:OrdinaryShareClass1 2023-03-31 SC625939 2022-04-01 2023-03-31 SC625939 bus:FullAccounts 2022-04-01 2023-03-31 SC625939 bus:SmallEntities 2022-04-01 2023-03-31 SC625939 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC625939 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC625939 bus:Director1 2022-04-01 2023-03-31 SC625939 bus:Director2 2022-04-01 2023-03-31 SC625939 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 SC625939 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 SC625939 core:ComputerEquipment core:TopRangeValue 2022-04-01 2023-03-31 SC625939 2021-04-01 2022-03-31 SC625939 core:ComputerSoftware 2022-04-01 2023-03-31 SC625939 core:LandBuildings 2022-04-01 2023-03-31 SC625939 core:OfficeEquipment 2022-04-01 2023-03-31 SC625939 core:ComputerEquipment 2022-04-01 2023-03-31 SC625939 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 SC625939 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC625939 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC625939 (Scotland)

SNOW LINE LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

SNOW LINE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

SNOW LINE LTD

BALANCE SHEET

AS AT 31 MARCH 2023
SNOW LINE LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 19,185 0
Tangible assets 4 33,081 43,762
52,266 43,762
Current assets
Debtors 5 253,531 216,260
Cash at bank and in hand 290,815 89,128
544,346 305,388
Creditors: amounts falling due within one year 6 ( 412,630) ( 308,180)
Net current assets/(liabilities) 131,716 (2,792)
Total assets less current liabilities 183,982 40,970
Creditors: amounts falling due after more than one year 7 ( 179,007) 0
Net assets 4,975 40,970
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 4,973 40,968
Total shareholders' funds 4,975 40,970

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Snow Line Ltd (registered number: SC625939) were approved and authorised for issue by the Director on 26 October 2023. They were signed on its behalf by:

C McKenna
Director
B Greenock
Director
SNOW LINE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
SNOW LINE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Snow Line Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 23 White Yetts Brae, Balfron, Glasgow, G63 0QA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the income is received in advance of sending goods out to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Office equipment 4 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 4

3. Intangible assets

Computer software Total
£ £
Cost
At 01 April 2022 0 0
Additions 19,185 19,185
At 31 March 2023 19,185 19,185
Accumulated amortisation
At 01 April 2022 0 0
At 31 March 2023 0 0
Net book value
At 31 March 2023 19,185 19,185
At 31 March 2022 0 0

4. Tangible assets

Land and buildings Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 April 2022 9,055 30,756 10,466 50,277
Additions 0 449 1,400 1,849
At 31 March 2023 9,055 31,205 11,866 52,126
Accumulated depreciation
At 01 April 2022 302 3,774 2,439 6,515
Charge for the financial year 906 7,764 3,860 12,530
At 31 March 2023 1,208 11,538 6,299 19,045
Net book value
At 31 March 2023 7,847 19,667 5,567 33,081
At 31 March 2022 8,753 26,982 8,027 43,762

5. Debtors

2023 2022
£ £
Trade debtors 240,812 137,508
Other debtors 12,719 78,752
253,531 216,260

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 37,983 0
Trade creditors 99,119 30,108
Accruals and deferred income 218,670 243,546
Taxation and social security 55,300 33,141
Other creditors 1,558 1,385
412,630 308,180

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 179,007 0

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2