Silverfin false false 30/06/2023 01/07/2022 30/06/2023 M D Andrews 06/10/2023 06/12/2017 Dr S G Jenkins G R Papworth 12/12/2023 P A Wills 06 February 2024 The principal activity of the company continued to be that of software development and associated services for surveys, assessments, data collection, and analysis. 01672722 2023-06-30 01672722 bus:Director1 2023-06-30 01672722 bus:Director3 2023-06-30 01672722 2022-06-30 01672722 core:CurrentFinancialInstruments 2023-06-30 01672722 core:CurrentFinancialInstruments 2022-06-30 01672722 core:Non-currentFinancialInstruments 2023-06-30 01672722 core:Non-currentFinancialInstruments 2022-06-30 01672722 core:ShareCapital 2023-06-30 01672722 core:ShareCapital 2022-06-30 01672722 core:RevaluationReserve 2023-06-30 01672722 core:RevaluationReserve 2022-06-30 01672722 core:RetainedEarningsAccumulatedLosses 2023-06-30 01672722 core:RetainedEarningsAccumulatedLosses 2022-06-30 01672722 core:LandBuildings 2022-06-30 01672722 core:LeaseholdImprovements 2022-06-30 01672722 core:PlantMachinery 2022-06-30 01672722 core:FurnitureFittings 2022-06-30 01672722 core:LandBuildings 2023-06-30 01672722 core:LeaseholdImprovements 2023-06-30 01672722 core:PlantMachinery 2023-06-30 01672722 core:FurnitureFittings 2023-06-30 01672722 core:CostValuation 2022-06-30 01672722 core:CostValuation 2023-06-30 01672722 core:ProvisionsForImpairmentInvestments 2022-06-30 01672722 core:ProvisionsForImpairmentInvestments 2023-06-30 01672722 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-06-30 01672722 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2022-06-30 01672722 bus:OrdinaryShareClass1 2023-06-30 01672722 2022-07-01 2023-06-30 01672722 bus:FilletedAccounts 2022-07-01 2023-06-30 01672722 bus:SmallEntities 2022-07-01 2023-06-30 01672722 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 01672722 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 01672722 bus:Director1 2022-07-01 2023-06-30 01672722 bus:Director2 2022-07-01 2023-06-30 01672722 bus:Director3 2022-07-01 2023-06-30 01672722 bus:Director4 2022-07-01 2023-06-30 01672722 core:LandBuildings core:TopRangeValue 2022-07-01 2023-06-30 01672722 core:LeaseholdImprovements core:BottomRangeValue 2022-07-01 2023-06-30 01672722 core:LeaseholdImprovements core:TopRangeValue 2022-07-01 2023-06-30 01672722 core:PlantMachinery core:TopRangeValue 2022-07-01 2023-06-30 01672722 core:FurnitureFittings core:TopRangeValue 2022-07-01 2023-06-30 01672722 2021-07-01 2022-06-30 01672722 core:LandBuildings 2022-07-01 2023-06-30 01672722 core:LeaseholdImprovements 2022-07-01 2023-06-30 01672722 core:PlantMachinery 2022-07-01 2023-06-30 01672722 core:FurnitureFittings 2022-07-01 2023-06-30 01672722 core:Non-currentFinancialInstruments 2022-07-01 2023-06-30 01672722 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 01672722 bus:OrdinaryShareClass1 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01672722 (England and Wales)

SNAP SURVEYS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

SNAP SURVEYS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

SNAP SURVEYS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
SNAP SURVEYS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 694,306 718,572
694,306 718,572
Current assets
Debtors 5 771,835 912,547
Cash at bank and in hand 662,544 459,690
1,434,379 1,372,237
Creditors: amounts falling due within one year 6 ( 1,188,646) ( 1,107,988)
Net current assets 245,733 264,249
Total assets less current liabilities 940,039 982,821
Creditors: amounts falling due after more than one year 7 ( 14,824) ( 14,258)
Net assets 925,215 968,563
Capital and reserves
Called-up share capital 8 10,000 10,000
Revaluation reserve 107,295 109,679
Profit and loss account 807,920 848,884
Total shareholders' funds 925,215 968,563

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Snap Surveys Limited (registered number: 01672722) were approved and authorised for issue by the Director on 06 February 2024. They were signed on its behalf by:

G R Papworth
Director
SNAP SURVEYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
SNAP SURVEYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Snap Surveys Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 Mead Court, Cooper Road, Thornbury, Bristol, BS35 3UW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Leasehold improvements 3 - 8 years straight line
Plant and machinery 4 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 40 42

3. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 July 2022 843,536 137,453 279,789 94,642 1,355,420
Additions 0 0 2,648 0 2,648
At 30 June 2023 843,536 137,453 282,437 94,642 1,358,068
Accumulated depreciation
At 01 July 2022 147,730 136,790 257,938 94,390 636,848
Charge for the financial year 16,871 613 9,322 108 26,914
At 30 June 2023 164,601 137,403 267,260 94,498 663,762
Net book value
At 30 June 2023 678,935 50 15,177 144 694,306
At 30 June 2022 695,806 663 21,851 252 718,572

Revaluation of tangible assets

The values of leasehold land and buildings were considered by the directors at 30 June 2023 with reference to the open market values of similar properties in the area. The directors were content that the carrying amount of the leasehold land and buildings remains a fair reflection of the open market value of the buildings.

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would be as follows:

2023 2022
£ £
Historical cost 827,331 827,331
Accumulated depreciation (219,133) (202,586)
Carrying value 608,198 624,745

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 July 2022 100
At 30 June 2023 100
Provisions for impairment
At 01 July 2022 100
At 30 June 2023 100
Carrying value at 30 June 2023 0
Carrying value at 30 June 2022 0

5. Debtors

2023 2022
£ £
Trade debtors 272,304 295,161
Amounts owed by own subsidiaries 426,972 408,914
Corporation tax 0 59,634
Other debtors 72,559 148,838
771,835 912,547

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 8,454 8,650
Taxation and social security 109,765 104,970
Other creditors 1,070,427 994,368
1,188,646 1,107,988

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 14,824 14,258

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000

9. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 5,100 8,000

10. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Dividends paid to directors 35,076 140,304