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Snap Services Limited

Financial Statements for the Year Ended 31 December 2023






Snap Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P N Hopson
N J Kersley





REGISTERED OFFICE: The Old Mill
14A Ty Wern Road
Rhiwbina
Cardiff
CF14 6AA





REGISTERED NUMBER: 09640335 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Snap Services Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Snap Services Limited for the year ended 31 December 2023 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Snap Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Snap Services Limited and state those matters that we have agreed to state to the Board of Directors of Snap Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Snap Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Snap Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Snap Services Limited. You consider that Snap Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Snap Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


23 April 2024

Snap Services Limited (Registered number: 09640335)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 479 1,549
Tangible assets 4 118,222 100,735
118,701 102,284

CURRENT ASSETS
Debtors 5 276,464 263,731
Cash at bank and in hand 149,106 261,942
425,570 525,673
CREDITORS
Amounts falling due within one year 6 302,562 377,065
NET CURRENT ASSETS 123,008 148,608
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,709

250,892

CREDITORS
Amounts falling due after more than
one year

7

(57,859

)

(72,054

)

PROVISIONS FOR DEFERRED TAX (26,000 ) (24,000 )
NET ASSETS 157,850 154,838

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 157,840 154,828
SHAREHOLDERS' FUNDS 157,850 154,838

Snap Services Limited (Registered number: 09640335)

Balance Sheet - continued
31 December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:





P N Hopson - Director


Snap Services Limited (Registered number: 09640335)

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


1. 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.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the lease term
Plant and machinery - 25% straight line
Motor vehicles - 20% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Snap Services Limited (Registered number: 09640335)

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


1. ACCOUNTING POLICIES - continued

Pension costs
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 14 ) .

3. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2023
and 31 December 2023 3,243
AMORTISATION
At 1 January 2023 1,694
Amortisation for year 1,070
At 31 December 2023 2,764
NET BOOK VALUE
At 31 December 2023 479
At 31 December 2022 1,549

Snap Services Limited (Registered number: 09640335)

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


4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2023 - 14,313 155,295 169,608
Additions 45,968 1,099 - 47,067
At 31 December 2023 45,968 15,412 155,295 216,675
DEPRECIATION
At 1 January 2023 - 6,841 62,032 68,873
Charge for year - 3,116 26,464 29,580
At 31 December 2023 - 9,957 88,496 98,453
NET BOOK VALUE
At 31 December 2023 45,968 5,455 66,799 118,222
At 31 December 2022 - 7,472 93,263 100,735

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 153,514 84,926
Amounts owed by group undertakings 22,004 -
Amounts recoverable on contract 49,000 144,000
Other debtors & prepayments 51,946 34,805
276,464 263,731

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 14,195 13,107
Trade creditors 208,430 141,836
Amounts owed to group undertakings - 96,110
Taxes & social security costs 50,933 75,677
Other creditors & accruals 29,004 50,335
302,562 377,065

Snap Services Limited (Registered number: 09640335)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts 57,859 72,054

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 72,054 85,161

The hire purchase contracts are secured over the assets to which they relate.