BrightAccountsProduction v1.0.0 v1.0.0 2022-07-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company was property investment. 14 March 2024 1 1 NI643859 2023-06-30 NI643859 2022-06-30 NI643859 2021-06-30 NI643859 2022-07-01 2023-06-30 NI643859 2021-07-01 2022-06-30 NI643859 uk-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 NI643859 uk-curr:PoundSterling 2022-07-01 2023-06-30 NI643859 uk-bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 NI643859 uk-bus:AbridgedAccounts 2022-07-01 2023-06-30 NI643859 uk-core:ShareCapital 2023-06-30 NI643859 uk-core:ShareCapital 2022-06-30 NI643859 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI643859 uk-core:RetainedEarningsAccumulatedLosses 2022-06-30 NI643859 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 NI643859 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-06-30 NI643859 uk-bus:FRS102 2022-07-01 2023-06-30 NI643859 uk-core:ParentEntities 2022-07-01 2023-06-30 NI643859 2022-07-01 2023-06-30 NI643859 uk-bus:Director1 2022-07-01 2023-06-30 NI643859 uk-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI643859
 
 
Snarg Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 June 2023
Snarg Ltd
Company Registration Number: NI643859
ABRIDGED BALANCE SHEET
as at 30 June 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 5 250,098 214,523
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Current Assets
Debtors 151 -
Cash at bank and in hand 5,672 4,844
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5,823 4,844
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Creditors: amounts falling due within one year (8,400) (8,823)
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Net Current Liabilities (2,577) (3,979)
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Total Assets less Current Liabilities 247,521 210,544
 
Creditors:
amounts falling due after more than one year (261,773) (220,481)
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Net Liabilities (14,252) (9,937)
═════════ ═════════
 
Capital and Reserves
Called up share capital 10 10
Retained earnings (14,262) (9,947)
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Shareholders' Deficit (14,252) (9,937)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 14 March 2024
           
           
________________________________          
Mr. Steven Kher          
Director          
           



Snarg Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 June 2023

   
1. General Information
 
Snarg Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI643859. The registered office of the company is 2 Church Street, Ballygawley, Co. Tyrone, BT70 2HB, Northern Ireland. The nature of the company's operations and its principal activities are set out in the Director's Report.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 30 June 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Abridged Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Abridged Profit and Loss Account.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
The company accounts are prepared on the going concern basis. The company was impacted during the year by the global coronavirus pandemic, however, with government support together with the directors’ continued support, the company is well placed to trade successfully post pandemic.
       
4. Employees
 
The average monthly number of employees, including director, during the financial year was 1, (2022 - 1).
 
  2023 2022
  Number Number
 
Administrative 1 1
  ═════════ ═════════
       
5. Tangible assets
  Investment Total
  properties  
     
  £ £
Cost
At 1 July 2022 214,523 214,523
Additions 35,575 35,575
  ───────── ─────────
At 30 June 2023 250,098 250,098
  ───────── ─────────
Depreciation
At 1 July 2022 - -
  ───────── ─────────
At 30 June 2023 - -
  ───────── ─────────
Net book value
At 30 June 2023 250,098 250,098
  ═════════ ═════════
At 30 June 2022 214,523 214,523
  ═════════ ═════════
       
6. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 June 2023.
   
7. Parent company
 
The company regards FASTHOSP LTD as its parent company.
 
   
8. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.