UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 31 MARCH 2023 |
FOR |
SNOWTRAX LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 31 MARCH 2023 |
FOR |
SNOWTRAX LIMITED |
SNOWTRAX LIMITED (REGISTERED NUMBER: 03468828) |
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 | 4 |
SNOWTRAX LIMITED |
COMPANY INFORMATION |
For The Period 1 January 2022 to 31 March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SNOWTRAX LIMITED (REGISTERED NUMBER: 03468828) |
BALANCE SHEET |
31 March 2023 |
2023 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
SNOWTRAX LIMITED (REGISTERED NUMBER: 03468828) |
BALANCE SHEET - continued |
31 March 2023 |
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 |
SNOWTRAX LIMITED (REGISTERED NUMBER: 03468828) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Period 1 January 2022 to 31 March 2023 |
1. | STATUTORY INFORMATION |
Snowtrax Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Snowtrax Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Changes in reporting period |
These financial statements cover a fifteen month accounting period 1January 2022 to 31 March 2023. The accounting period was extended so as to align the company's financial year 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 represents net invoiced sales of goods, services, and the provision of sporting and leisure facilities, excluding value added tax. |
Goodwill |
Goodwill represents the difference between the fair value of the consideration paid on acquisition of a business and the fair value of its separable net assets at the date of acquisition and has been fully amortised. |
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 |
Short leasehold | - |
Fixtures and fittings | - |
Ski Slope matting | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
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. |
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 LIMITED (REGISTERED NUMBER: 03468828) |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2022 |
and 31 March 2023 |
AMORTISATION |
At 1 January 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 December 2021 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Ski Slope |
leasehold | fittings | matting | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 January 2022 |
Charge for period |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 December 2021 |
SNOWTRAX LIMITED (REGISTERED NUMBER: 03468828) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 January 2022 to 31 March 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2022 |
Disposals | ( |
) |
At 31 March 2023 |
PROVISIONS |
At 1 January 2022 | 15,620 |
Eliminated on disposal | (15,620 | ) |
At 31 March 2023 | - |
NET BOOK VALUE |
At 31 March 2023 |
At 31 December 2021 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors and prepayments |
Accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2021 |
£ | £ |
Bank loans |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2021 |
£ | £ |
Within one year |
SNOWTRAX LIMITED (REGISTERED NUMBER: 03468828) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 January 2022 to 31 March 2023 |
11. | PROVISIONS FOR LIABILITIES |
2023 | 2021 |
£ | £ |
Deferred tax | 18,082 | 24,517 |
Deferred |
tax |
£ |
Balance at 1 January 2022 |
Credit to Income Statement during period | ( |
) |
Balance at 31 March 2023 |
Deferred tax balances represent capital allowances in advance of depreciation. |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2021 |
value: | £ | £ |
Ordinary | £1 | 100,000 | 100,000 |
13. | CONTINGENT LIABILITIES |
The Company is party to an unlimited bank guarantee in favour of its Holding Company, Iseard Holdings Limited. |
14. | ULTIMATE PARENT COMPANY |
The parent undertaking is Iseard Holdings Limited, whose registered office is 5th Floor, Waverley House, 115-119 Holdenhurst Road, Bournemouth, Dorset, BH8 8DY. |