18
01/04/2023
31/03/2024
2024-03-31
false
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true
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No description of principal activities is disclosed
2023-04-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
11270504
2023-04-01
2024-03-31
11270504
2024-03-31
11270504
2023-03-31
11270504
2022-04-01
2023-03-31
11270504
2023-03-31
11270504
2022-03-31
11270504
core:IntangibleAssetsOtherThanGoodwill
2023-04-01
2024-03-31
11270504
core:PlantMachinery
2023-04-01
2024-03-31
11270504
core:FurnitureFittingsToolsEquipment
2023-04-01
2024-03-31
11270504
bus:RegisteredOffice
2023-04-01
2024-03-31
11270504
bus:LeadAgentIfApplicable
2023-04-01
2024-03-31
11270504
bus:Director1
2023-04-01
2024-03-31
11270504
bus:Director2
2023-04-01
2024-03-31
11270504
bus:Director3
2023-04-01
2024-03-31
11270504
bus:Director4
2023-04-01
2024-03-31
11270504
core:IntangibleAssetsOtherThanGoodwill
2023-03-31
11270504
core:IntangibleAssetsOtherThanGoodwill
2024-03-31
11270504
core:PlantMachinery
2023-03-31
11270504
core:FurnitureFittingsToolsEquipment
2023-03-31
11270504
core:PlantMachinery
2024-03-31
11270504
core:FurnitureFittingsToolsEquipment
2024-03-31
11270504
core:WithinOneYear
2024-03-31
11270504
core:WithinOneYear
2023-03-31
11270504
core:AfterOneYear
2024-03-31
11270504
core:AfterOneYear
2023-03-31
11270504
core:ShareCapital
2024-03-31
11270504
core:ShareCapital
2023-03-31
11270504
core:SharePremium
2024-03-31
11270504
core:SharePremium
2023-03-31
11270504
core:RetainedEarningsAccumulatedLosses
2024-03-31
11270504
core:RetainedEarningsAccumulatedLosses
2023-03-31
11270504
core:IntangibleAssetsOtherThanGoodwill
2023-03-31
11270504
core:CostValuation
core:Non-currentFinancialInstruments
2023-03-31
11270504
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2024-03-31
11270504
core:Non-currentFinancialInstruments
2023-03-31
11270504
core:PlantMachinery
2023-03-31
11270504
core:FurnitureFittingsToolsEquipment
2023-03-31
11270504
bus:SmallEntities
2023-04-01
2024-03-31
11270504
bus:AuditExempt-NoAccountantsReport
2023-04-01
2024-03-31
11270504
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
11270504
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
11270504
bus:FullAccounts
2023-04-01
2024-03-31
Company registration number:
11270504
Made Snappy Limited
Unaudited filleted financial statements
31 March 2024
Made Snappy Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Made Snappy Limited
Directors and other information
|
|
|
|
Directors |
M.S McCorrie |
|
|
A.G Rigg |
|
|
P.A Smith |
|
|
S. Will |
|
|
|
|
|
|
|
Company number |
11270504 |
|
|
|
|
|
|
|
Registered office |
Unit 3 & 5a |
|
|
Lister Mill Business Park |
|
|
Lister Close |
|
|
Plymouth |
|
|
PL7 4BA |
|
|
|
|
|
|
|
Business address |
Unit 3 & 5a |
|
|
Lister Mill Business Park |
|
|
Lister Close |
|
|
Plymouth |
|
|
PL7 4BA |
|
|
|
|
|
|
|
Accountants |
Franklins Accountants LLP |
|
|
Astor House |
|
|
2 Alexandra Road |
|
|
Mutley Plain |
|
|
Plymouth |
|
|
PL4 7JR |
|
|
|
Made Snappy Limited
Statement of financial position
31 March 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
242,562 |
|
|
|
170,970 |
|
|
Tangible assets |
|
6 |
54,614 |
|
|
|
22,750 |
|
|
Investments |
|
7 |
- |
|
|
|
1 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
297,176 |
|
|
|
193,721 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
10,127 |
|
|
|
9,049 |
|
|
Debtors |
|
8 |
74,112 |
|
|
|
59,484 |
|
|
Cash at bank and in hand |
|
|
104,806 |
|
|
|
47,268 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
189,045 |
|
|
|
115,801 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
9 |
(
118,046) |
|
|
|
(
105,438) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
70,999 |
|
|
|
10,363 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
368,175 |
|
|
|
204,084 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
10 |
|
|
(
54,624) |
|
|
|
(
61,017) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
313,551 |
|
|
|
143,067 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
2 |
|
|
|
2 |
Share premium account |
|
|
|
|
150,002 |
|
|
|
150,002 |
Profit and loss account |
|
|
|
|
163,547 |
|
|
|
(
6,937) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
313,551 |
|
|
|
143,067 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
11 July 2024
, and are signed on behalf of the board by:
M.S McCorrie
Director
Company registration number:
11270504
Made Snappy Limited
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 3 & 5a, Unit 3 & 5a, Lister Mill Business Park, Lister Close, Plymouth, PL7 4BA.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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 the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Development costs |
- |
20 % |
straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
33 % |
straight line |
|
Fittings fixtures and equipment |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
18
(2023:
10
).
5.
Intangible assets
|
|
Other intangible assets |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2023 |
245,843 |
245,843 |
|
|
|
|
|
Additions |
131,301 |
131,301 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2024 |
377,144 |
377,144 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 April 2023 |
74,873 |
74,873 |
|
|
|
|
|
Charge for the year |
59,709 |
59,709 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2024 |
134,582 |
134,582 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2024 |
242,562 |
242,562 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
170,970 |
170,970 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2023 |
11,610 |
17,999 |
29,609 |
|
|
|
|
|
Additions |
37,530 |
7,879 |
45,409 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2024 |
49,140 |
25,878 |
75,018 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2023 |
323 |
6,537 |
6,860 |
|
|
|
|
|
Charge for the year |
9,750 |
3,794 |
13,544 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2024 |
10,073 |
10,331 |
20,404 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2024 |
39,067 |
15,547 |
54,614 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
11,287 |
11,462 |
22,749
|
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Investments
|
|
Shares in group undertakings and participating interests |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2023 |
1 |
1 |
|
|
|
|
|
Disposals |
(
1) |
(
1) |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
1 |
1 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
8.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
55,968 |
19,721 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
- |
25 |
|
Other debtors |
|
18,144 |
39,738 |
|
|
|
_______ |
_______ |
|
|
|
74,112 |
59,484 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
31,152 |
50,137 |
|
Trade creditors |
|
16,068 |
15,852 |
|
Social security and other taxes |
|
49,146 |
23,960 |
|
Other creditors |
|
21,680 |
15,489 |
|
|
|
_______ |
_______ |
|
|
|
118,046 |
105,438 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
54,624 |
61,017 |
|
|
|
_______ |
_______ |
|
|
|
|
|