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Registration number: 03188135

Snow Business International Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Snow Business International Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Snow Business International Ltd

Company Information

Director

DE Crownshaw

Registered office

The Snow Mill
Bridge Road
Ebley
Stroud
Gloucestershire
GL5 4TR

Accountants

Clement Rabjohns Limited
Chartered Accountants
111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

Snow Business International Ltd

(Registration number: 03188135)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

945,141

365,601

Investments

5

-

100

 

945,141

365,701

Current assets

 

Stocks

6

163,796

183,445

Debtors

7

245,429

576,183

Cash at bank and in hand

 

1,317,870

2,114,649

 

1,727,095

2,874,277

Creditors: Amounts falling due within one year

8

(163,894)

(726,765)

Net current assets

 

1,563,201

2,147,512

Total assets less current liabilities

 

2,508,342

2,513,213

Provisions for liabilities

(121,115)

(58,675)

Net assets

 

2,387,227

2,454,538

Capital and reserves

 

Called up share capital

9

1,000

1,000

Profit and loss account

2,386,227

2,453,538

Total equity

 

2,387,227

2,454,538

For the financial year ending 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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 October 2023
 

 

Snow Business International Ltd

(Registration number: 03188135)
Balance Sheet as at 30 April 2023

.........................................
DE Crownshaw
Director

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Snow Mill
Bridge Road
Ebley
Stroud
Gloucestershire
GL5 4TR
United Kingdom

These financial statements were authorised for issue by the director on 17 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue on the sale of goods on despatch of the goods.

The company recognises revenue from events once the event has occurred. Any invoicing in advance is recognised as accrued income in the Balance Sheet and is released to the Profit and Loss Account once the event has occurred.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Individual freehold and leasehold properties are carried at fair value at the date of revaluation less any subsequent accumulated depreciation. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from the fair value as at the balance sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Tenant improvements

4% straight line basis

Plant and machinery

20% straight line basis

Motor vehicles

15% straight line basis

Fixtures and fittings

15% straight line basis

Office equipment

15% straight line basis

Rental fleet

Straight line over 80 months

Leasehold property

Straight line over 50 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2022 - 15).

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Leasehold property
£

Rental fleet
 £

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

61,724

66,866

49,946

174,156

53,268

332,299

738,259

Additions

407,043

-

112,723

161,972

10,412

88,700

780,850

Disposals

-

(66,866)

-

(27,853)

(519)

-

(95,238)

At 30 April 2023

468,767

-

162,669

308,275

63,161

420,999

1,423,871

Depreciation

At 1 May 2022

4,938

37,961

18,596

141,370

32,124

137,669

372,658

Charge for the year

3,147

-

30,327

61,426

10,718

66,742

172,360

Eliminated on disposal

-

(37,961)

-

(27,853)

(474)

-

(66,288)

At 30 April 2023

8,085

-

48,923

174,943

42,368

204,411

478,730

Carrying amount

At 30 April 2023

460,682

-

113,746

133,332

20,793

216,588

945,141

At 30 April 2022

56,786

28,905

31,350

32,786

21,144

194,630

365,601

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Included within the net book value of leasehold property above is £406,365 in respect of long leasehold land and buildings, and £54,317 (2022 - £56,786 ) in respect of tenants improvements.

5

Investments

2023
£

2022
£

Investments in subsidiaries

-

100

Subsidiaries

£

Cost or valuation

At 1 May 2022

100

Disposals

(100)

At 30 April 2023

-

Provision

Carrying amount

At 30 April 2023

-

At 30 April 2022

100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

The Snow People Limited

The Snow Mill, Bridge Road, Ebley, Stroud, Glos, GL5 4TR

UK

Ordinary

100%

100%

Subsidiary undertakings

The Snow People Limited

The principal activity of The Snow People Limited is is that of a dormant company.

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

6

Stocks

2023
£

2022
£

Stocks

163,796

183,445

7

Debtors

Current

2023
£

2022
£

Trade debtors

194,752

510,691

Prepayments

50,677

65,492

 

245,429

576,183

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

56,308

105,395

Taxation and social security

72,425

454,695

Accruals and deferred income

32,237

163,553

Other creditors

2,924

3,122

163,894

726,765

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

10

Parent and ultimate parent undertaking

The company's immediate parent is Snow Business Holdings Limited, incorporated in England and Wales.