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Company Registration No. 07807095 (England and Wales)
SNR Inc Ltd Unaudited accounts for the year ended 31 October 2023
SNR Inc Ltd Unaudited accounts Contents
Page
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SNR Inc Ltd Company Information for the year ended 31 October 2023
Director
Farrukh Rizwani
Company Number
07807095 (England and Wales)
Registered Office
310D, EW Sterling House Langston Road Loughton IG10 3TS United Kingdom
Accountants
Capital Talks LLP Accountants & Tax consultants 310D - EW Sterling House Langston Road Loughton IG10 3TS
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SNR Inc Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
46,306 
58,467 
Current assets
Debtors
1,863,345 
1,332,995 
Cash at bank and in hand
133,952 
77,305 
1,997,297 
1,410,300 
Creditors: amounts falling due within one year
(1,201,574)
(564,893)
Net current assets
795,723 
845,407 
Total assets less current liabilities
842,029 
903,874 
Creditors: amounts falling due after more than one year
(306,847)
(437,843)
Net assets
535,182 
466,031 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
535,172 
466,021 
Shareholders' funds
535,182 
466,031 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 July 2024 and were signed on its behalf by
Farrukh Rizwani Director Company Registration No. 07807095
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SNR Inc Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
SNR Inc Ltd is a private company, limited by shares, registered in England and Wales, registration number 07807095. The registered office is 310D, EW Sterling House, Langston Road, Loughton, IG10 3TS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost.
Computer equipment
20% on cost.
Deferred taxation
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 accounts. 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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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SNR Inc Ltd Notes to the Accounts for the year ended 31 October 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
89,977 
10,264 
100,241 
Additions
15,458 
6,271 
21,729 
Disposals
(31,830)
- 
(31,830)
At 31 October 2023
73,605 
16,535 
90,140 
Depreciation
At 1 November 2022
39,533 
2,241 
41,774 
Charge for the year
4,694 
3,048 
7,742 
On disposals
(5,804)
122 
(5,682)
At 31 October 2023
38,423 
5,411 
43,834 
Net book value
At 31 October 2023
35,182 
11,124 
46,306 
At 31 October 2022
50,444 
8,023 
58,467 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
- 
31,830 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
125,207 
49,812 
Trade debtors
1,682,271 
1,271,248 
Accrued income and prepayments
7,012 
10,930 
Other debtors
48,855 
1,005 
1,863,345 
1,332,995 
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SNR Inc Ltd Notes to the Accounts for the year ended 31 October 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
60,000 
60,000 
Obligations under finance leases and hire purchase contracts
5,542 
5,542 
Trade creditors
905,657 
389,811 
Taxes and social security
57,937 
45,325 
Other creditors
- 
11,082 
Loans from directors
124,123 
2,340 
Accruals
48,315 
50,793 
1,201,574 
564,893 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
297,653 
422,121 
Obligations under finance leases and hire purchase contracts
9,194 
15,722 
306,847 
437,843 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
9
Loans to directors
At 31 October 2023 the company owed £124,121.22/- to F. Rizwani as a result of loans made to the company. The loans are unsecured and interest free. The director, F Rizwani, controls the company as a result of controlling directly 100% of the issued shares capital.
10
Average number of employees
During the year the average number of employees was 8 (2022: 8).
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