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REGISTERED NUMBER: 07179137 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Snowik Limited

Snowik Limited (Registered number: 07179137)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Snowik Limited (Registered number: 07179137)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £ £
Fixed assets
Intangible assets 4 70,000 80,000
Tangible assets 5 172,098 224,470
242,098 304,470

Current assets
Stocks 48,500 48,500
Debtors 6 322,415 179,389
Cash at bank and in hand 9,966 128,237
380,881 356,126
Creditors
Amounts falling due within one year 7 (279,156 ) (214,196 )
Net current assets 101,725 141,930
Total assets less current liabilities 343,823 446,400

Creditors
Amounts falling due after more than
one year

8

(144,476

)

(160,527

)

Provisions for liabilities 9 (14,686 ) (14,686 )
Net assets 184,661 271,187

Snowik Limited (Registered number: 07179137)

Balance Sheet - continued
31 March 2023

31.3.23 31.3.22
Notes £ £
Capital and reserves
Called up share capital 100 100
Retained earnings 184,561 271,087
Shareholders' funds 184,661 271,187

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

The members have not required the company to obtain an audit of its financial statements for the year 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 31 July 2023 and were signed on its behalf by:




Szymon Nowik - Director



Miss Maria Smith - Director


Snowik Limited (Registered number: 07179137)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. Statutory information

Snowik Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07179137

Registered office: Units 14-15,
Windsor Park 50 Windsor Ave
Wimbledon
London
SW19 2TJ

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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.


Snowik Limited (Registered number: 07179137)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. Accounting policies - continued
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 year 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.

3. Employees and directors

The average number of employees during the year was 11 (2022 - 15 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022
and 31 March 2023 200,000
Amortisation
At 1 April 2022 120,000
Charge for year 10,000
At 31 March 2023 130,000
Net book value
At 31 March 2023 70,000
At 31 March 2022 80,000

Snowik Limited (Registered number: 07179137)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£ £ £
Cost
At 1 April 2022
and 31 March 2023 25,090 458,412 483,502
Depreciation
At 1 April 2022 - 259,032 259,032
Charge for year - 52,372 52,372
At 31 March 2023 - 311,404 311,404
Net book value
At 31 March 2023 25,090 147,008 172,098
At 31 March 2022 25,090 199,380 224,470

6. Debtors: amounts falling due within one year
31.3.23 31.3.22
£ £
Trade debtors 252,216 162,919
Other debtors 70,199 16,470
322,415 179,389

7. Creditors: amounts falling due within one year
31.3.23 31.3.22
£ £
Hire purchase contracts 39,846 49,846
Trade creditors 11,546 5,727
Taxation and social security 227,434 158,623
Other creditors 330 -
279,156 214,196

8. Creditors: amounts falling due after more than one year
31.3.23 31.3.22
£ £
Hire purchase contracts 99,076 131,345
Other creditors 45,400 29,182
144,476 160,527

Snowik Limited (Registered number: 07179137)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. Provisions for liabilities
31.3.23 31.3.22
£ £
Deferred tax 14,686 14,686

Deferred tax
£
Balance at 1 April 2022 14,686
Balance at 31 March 2023 14,686