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REGISTERED NUMBER: 04453767 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

SNOK LIMITED

SNOK LIMITED (REGISTERED NUMBER: 04453767)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SNOK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: M Ferretti
Mrs M P Ferretti





SECRETARY: Mrs M P Ferretti





REGISTERED OFFICE: Argent House
5 Goldington Road
Bedford
Bedfordshire
MK40 3JY





REGISTERED NUMBER: 04453767 (England and Wales)





ACCOUNTANTS: Rawlinson Pryde & Partners
Chartered Certified Accountants
Argent House
5 Goldington Road
Bedford
MK40 3JY

SNOK LIMITED (REGISTERED NUMBER: 04453767)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 2,525,037 2,507,377
2,525,037 2,507,377

CURRENT ASSETS
Debtors 6 279 -
Cash at bank 198,262 266,327
198,541 266,327
CREDITORS
Amounts falling due within one year 7 107,789 72,123
NET CURRENT ASSETS 90,752 194,204
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,615,789

2,701,581

CREDITORS
Amounts falling due after more than one
year

8

(760,000

)

(1,080,000

)

PROVISIONS FOR LIABILITIES (7,310 ) (7,310 )

ACCRUALS AND DEFERRED INCOME (57,162 ) (45,299 )
NET ASSETS 1,791,317 1,568,972

CAPITAL AND RESERVES
Called up share capital 500 500
Fair value reserve 9 274,620 274,620
Retained earnings 1,516,197 1,293,852
SHAREHOLDERS' FUNDS 1,791,317 1,568,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

SNOK LIMITED (REGISTERED NUMBER: 04453767)

BALANCE SHEET - continued
30 JUNE 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 3 January 2024 and were signed on its behalf by:





M Ferretti - Director


SNOK LIMITED (REGISTERED NUMBER: 04453767)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Snok 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Turnover
Turnover represents rent management fees and rents receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Residential furnishings - 25% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Investment property for which fair value can be measured reliably without undue cost or effort is measured at fair value at each reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and at each reporting date is transferred, net of deferred tax, from retained earnings to a non-distributable fair value reserve.

Investment property is subject to valuation by the directors or by external valuers, determined on the fair value basis using the market approach: based on market transactions involving identical or similar assets.

SNOK LIMITED (REGISTERED NUMBER: 04453767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all liabilities.

Basic financial instruments are initially recognised at the transaction price unless the arrangement constitutes a financing transaction. Transaction price should also include transaction costs; transaction costs are those costs that are directly attributable to the acquisition of the debt instrument. The exception to this accounting is where the debt instrument is measured at fair value through profit or loss. In such cases transaction costs are not included in the initial measurement of the financial instrument.

If an arrangement constitutes a financing transaction it is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. The present value of a financial asset or financial liability that is repayable on demand is equal to the undiscounted cash amount expected to be paid or received.

On subsequent measurement, basic financial instruments are recognised at amortised cost. Amortised cost is calculated as the undiscounted amount expected to be paid or received for basic financial instruments payable or receivable within one year.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Operating lease income
Rental income is recognised by reference to gross rents receivable in the period. Expenses incurred in earning rental income are charged separately to the profit and loss account.

SNOK LIMITED (REGISTERED NUMBER: 04453767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Residential Computer
furnishings equipment Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 3,037 581 3,618
DEPRECIATION
At 1 July 2022
and 30 June 2023 3,037 581 3,618
NET BOOK VALUE
At 30 June 2023 - - -
At 30 June 2022 - - -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 2,507,377
Additions 17,660
At 30 June 2023 2,525,037
NET BOOK VALUE
At 30 June 2023 2,525,037
At 30 June 2022 2,507,377

The investment property was valued by the directors in 2023 on a fair value basis using the market approach: based on market transactions involving identical or similar assets. In the directors' opinion, the fair value at 30th June 2023 was not significantly different to the fair value at 1st July 2022 nor to external valuations previously carried out.

If the investment property had not been valued at fair value, it would have been included at the historical cost of £2,222,898 at 30th June 2023 (2022: £2,222,898).

SNOK LIMITED (REGISTERED NUMBER: 04453767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
VAT 279 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors - 368
Corporation tax 56,019 46,254
VAT - 1,042
Directors' loan accounts 51,770 24,459
107,789 72,123

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Directors' loan accounts 760,000 1,080,000

9. RESERVES
Fair
value
reserve
£   
At 1 July 2022
and 30 June 2023 274,620