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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: Mr C P Iseard
Mr T C Iseard
Mrs C A Iseard
Mrs T V Iseard
Mr N Warne
Mr A Halstead





SECRETARY: Mr T C Iseard





REGISTERED OFFICE: Matchams Lane
Christchurch
Dorset
BH23 6AW





REGISTERED NUMBER: 03468828 (England and Wales)






SNOWTRAX LIMITED (REGISTERED NUMBER: 03468828)

BALANCE SHEET
31 March 2023

2023 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 88,547 104,219
Investments 6 150 150
88,697 104,369

CURRENT ASSETS
Stocks 326,938 398,471
Debtors 7 530,648 89,396
Cash at bank and in hand 363,151 550,539
1,220,737 1,038,406
CREDITORS
Amounts falling due within one year 8 (751,681 ) (599,098 )
NET CURRENT ASSETS 469,056 439,308
TOTAL ASSETS LESS CURRENT
LIABILITIES

557,753

543,677

CREDITORS
Amounts falling due after more than one year 9 (21,667 ) (34,167 )

PROVISIONS FOR LIABILITIES 11 (18,082 ) (24,517 )
NET ASSETS 518,004 484,993

CAPITAL AND RESERVES
Called up share capital 12 100,000 100,000
Retained earnings 418,004 384,993
SHAREHOLDERS' FUNDS 518,004 484,993

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.

SNOWTRAX LIMITED (REGISTERED NUMBER: 03468828)

BALANCE SHEET - continued
31 March 2023


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


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 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 10% on cost
Ski Slope matting - Straight line over 7 years

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 83 (2021 - 66 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 March 2023 210,000
AMORTISATION
At 1 January 2022
and 31 March 2023 210,000
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 9,650 597,475 388,896 996,021
Additions 17,685 14,888 - 32,573
At 31 March 2023 27,335 612,363 388,896 1,028,594
DEPRECIATION
At 1 January 2022 9,650 501,850 380,302 891,802
Charge for period 1,769 37,882 8,594 48,245
At 31 March 2023 11,419 539,732 388,896 940,047
NET BOOK VALUE
At 31 March 2023 15,916 72,631 - 88,547
At 31 December 2021 - 95,625 8,594 104,219

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 15,770
Disposals (15,620 )
At 31 March 2023 150
PROVISIONS
At 1 January 2022 15,620

Eliminated on disposal (15,620 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 150
At 31 December 2021 150

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors 11,483 2,356
Amounts owed by group undertakings 367,355 71,451
Other debtors and prepayments 105,902 15,589
Accrued income 45,908 -
530,648 89,396

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 79,564 139,317
Amounts owed to group undertakings 260,988 173,507
Taxation and social security 236,058 149,807
Other creditors 165,071 126,467
751,681 599,098

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2021
£    £   
Bank loans 21,667 34,167

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2021
£    £   
Within one year 120,000 120,000

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 24,517
Credit to Income Statement during period (6,435 )
Balance at 31 March 2023 18,082

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: £    £   
100,000 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.