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REGISTERED NUMBER: 08774859 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

SNAPTRIP GROUP LIMITED

SNAPTRIP GROUP LIMITED (REGISTERED NUMBER: 08774859)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SNAPTRIP GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mr M R Fox
Mr D J Harrison
Mr J R B Stoddart
Mr L Smith





REGISTERED OFFICE: LG.03
Cargo Works Business Works
1 - 2 Hatfields
London
SE1 9PG





REGISTERED NUMBER: 08774859 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Old Station House
Station Approach
Swindon
Wiltshire
SN1 3DU

SNAPTRIP GROUP LIMITED (REGISTERED NUMBER: 08774859)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30/11/23 30/11/22
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 388,124 559,929
Tangible assets 5 18,902 9,947
Investments 6 1,860,997 1,980,221
2,268,023 2,550,097

CURRENT ASSETS
Debtors 7 318,159 480,521
Cash at bank 1,290,930 1,081,744
1,609,089 1,562,265
CREDITORS
Amounts falling due within one year 8 512,311 838,386
NET CURRENT ASSETS 1,096,778 723,879
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,364,801

3,273,976

CREDITORS
Amounts falling due after more than one
year

9

(17,500

)

(27,500

)

PROVISIONS FOR LIABILITIES - (2,487 )
NET ASSETS 3,347,301 3,243,989

CAPITAL AND RESERVES
Called up share capital 30 30
Share premium 4,314,976 4,314,976
Retained earnings (967,705 ) (1,071,017 )
3,347,301 3,243,989

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

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

SNAPTRIP GROUP LIMITED (REGISTERED NUMBER: 08774859)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 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 29 July 2024 and were signed on its behalf by:





Mr M R Fox - Director


SNAPTRIP GROUP LIMITED (REGISTERED NUMBER: 08774859)

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

1. STATUTORY INFORMATION

Snaptrip Group 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Snaptrip Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

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.

Brand assets are being amortised evenly over their estimated useful life of 5 years.

Computer software is being amortised evenly over its estimated useful life of 5 years.

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

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 statement of financial position date.


SNAPTRIP GROUP LIMITED (REGISTERED NUMBER: 08774859)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022 866,443
Additions 92,368
Impairments (91,000 )
At 30 November 2023 867,811
AMORTISATION
At 1 December 2022 306,514
Charge for year 173,173
At 30 November 2023 479,687
NET BOOK VALUE
At 30 November 2023 388,124
At 30 November 2022 559,929

SNAPTRIP GROUP LIMITED (REGISTERED NUMBER: 08774859)

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

5. TANGIBLE FIXED ASSETS
Computer Office
Equipment Equipment Totals
£    £    £   
COST
At 1 December 2022 47,094 4,486 51,580
Additions 16,761 - 16,761
Disposals (791 ) - (791 )
At 30 November 2023 63,064 4,486 67,550
DEPRECIATION
At 1 December 2022 37,979 3,654 41,633
Charge for year 7,093 304 7,397
Eliminated on disposal (382 ) - (382 )
At 30 November 2023 44,690 3,958 48,648
NET BOOK VALUE
At 30 November 2023 18,374 528 18,902
At 30 November 2022 9,115 832 9,947

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022 1,980,221
Impairments (119,224 )
At 30 November 2023 1,860,997
NET BOOK VALUE
At 30 November 2023 1,860,997
At 30 November 2022 1,980,221

Company Share Type Shareholding
Last Minute Cottages Limited Ordinary 100%
Altameric Limited Ordinary 100%

Both subsidiaries are incorporated in England and Wales, with the registered office being Lg.03, Cargo Works, 1-2 Hatfields, London, SE1 9PG.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
as restated
£    £   
Trade debtors 26,993 44,185
Other debtors 291,166 436,336
318,159 480,521

SNAPTRIP GROUP LIMITED (REGISTERED NUMBER: 08774859)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
as restated
£    £   
Bank loans and overdrafts 10,000 312,400
Trade creditors 49,916 70,858
Amounts owed to group undertakings 166,762 166,678
Taxation and social security 159,127 162,333
Other creditors 126,506 126,117
512,311 838,386

Included within bank loans and overdrafts is £nil (2022: £302,400) of shareholders loans which were unsecured.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/11/23 30/11/22
as restated
£    £   
Bank loans 17,500 27,500

10. CONTINGENT LIABILITIES

The company has made Research and Development ("R&D") claims for the accounting periods ending 30 November 2021 and 30 November 2022.

At the date of this report, a review of the respective claims is being undertaken by HMRC.

The company believes that the claims meet the relevant criteria for R&D purposes.

If HMRC's conclusion is to deny both claims in full, the company would have a liability to tax of £83,757.

11. ULTIMATE CONTROLLING PARTY

The company is owned by a number of private shareholders and companies. The ultimate controlling party is considered to be Mainspring Nominees Limited through its position of significant influence. No one company or individual owns more than 50% of the shareholding.