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UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2022 TO 31 MARCH 2023

FOR

SNOWTRAX SURFACES LIMITED

SNOWTRAX SURFACES LIMITED (REGISTERED NUMBER: 11630447)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 January 2022 to 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SNOWTRAX SURFACES LIMITED

COMPANY INFORMATION
For The Period 1 January 2022 to 31 March 2023







DIRECTORS: Mr C P Iseard
Mr T C Iseard
Mr A Halstead
Mr N Warne





REGISTERED OFFICE: Matchams Lane
Christchurch
Dorset
BH23 6AW





REGISTERED NUMBER: 11630447 (England and Wales)






SNOWTRAX SURFACES LIMITED (REGISTERED NUMBER: 11630447)

BALANCE SHEET
31 March 2023

2023 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,005 1,230
Tangible assets 5 810 1,152
1,815 2,382

CURRENT ASSETS
Stocks 224,239 8,245
Debtors 6 221,784 87,145
Cash at bank 33,676 31,318
479,699 126,708
CREDITORS
Amounts falling due within one year 7 (446,156 ) (93,981 )
NET CURRENT ASSETS 33,543 32,727
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,358

35,109

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 35,158 34,909
SHAREHOLDERS' FUNDS 35,358 35,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2023 and were signed on its behalf by:




Mr C P Iseard - Director Mr T C Iseard - Director




Mr A Halstead - Director Mr N Warne - Director


SNOWTRAX SURFACES LIMITED (REGISTERED NUMBER: 11630447)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 January 2022 to 31 March 2023

1. STATUTORY INFORMATION

Snowtrax Surfaces Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Changes in reporting period
These financial statements cover a fifteen month accounting period 1 January 2022 to 31 March 2023. The accounting period was extended to ensure that the company's financial period is co-terminus with that of fellow subsidiary Snowtrax Limited whom extended its period in line with the ski season. The comparatives within these financial statements represent the results for the twelve months ended 31 December 2021 and are therefore not entirely comparable.

Turnover
Turnover is recognised as the right to consideration obtained through the performance of contractual obligations.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance
Website costs - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
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.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured as amortised cost using the effective interest rate method, less impairment

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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

SNOWTRAX SURFACES LIMITED (REGISTERED NUMBER: 11630447)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2022 to 31 March 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2021 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 March 2023 1,800
AMORTISATION
At 1 January 2022 570
Amortisation for period 225
At 31 March 2023 795
NET BOOK VALUE
At 31 March 2023 1,005
At 31 December 2021 1,230

5. TANGIBLE FIXED ASSETS
Website
Equipment costs Totals
£    £    £   
COST
At 1 January 2022
and 31 March 2023 2,850 1,000 3,850
DEPRECIATION
At 1 January 2022 1,698 1,000 2,698
Charge for period 342 - 342
At 31 March 2023 2,040 1,000 3,040
NET BOOK VALUE
At 31 March 2023 810 - 810
At 31 December 2021 1,152 - 1,152

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors 490 9,535
Advance payments to suppliers 174,953 -
Value added tax - 453
Prepayments 5,661 27,567
Accrued income 40,680 49,590
221,784 87,145

SNOWTRAX SURFACES LIMITED (REGISTERED NUMBER: 11630447)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2022 to 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade creditors 120 10,182
Amounts owed to group undertakings 367,355 71,451
Taxation and social security 2,111 11,098
Other creditors 76,570 1,250
446,156 93,981

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2021
value: £    £   
200 Ordinary £1 200 200

9. ULTIMATE CONTROLLING PARTY

The company is controlled by Snowtrax Limited, whose registered office is Matchams Lane, Christchurch, Dorset, BH23 6AW.

The ultimate controlling party is Iseard Holdings Limited, whose registered office is 5th Floor, Waverley House, 115-119 Holdenhurst Road, Bournemouth, Dorset, BH8 8DY.