2023-03-012024-02-292024-02-29false09996363SNAPIT TODAY 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SNAPIT TODAY LIMITED

Registered Number
09996363
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

SNAPIT TODAY LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

SHOUKAT, Sana Ullah

Registered Address

353 High Street North
London
E12 6PQ

Registered Number

09996363 (England and Wales)
SNAPIT TODAY LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets36551,309
6551,309
Current assets
Stocks495,65048,418
Debtors18,8125,093
Cash at bank and on hand5713,578
115,03357,089
Creditors amounts falling due within one year5(57,444)(51,401)
Net current assets (liabilities)57,5895,688
Total assets less current liabilities58,2446,997
Creditors amounts falling due after one year6(23,860)(27,574)
Net assets34,384(20,577)
Capital and reserves
Called up share capital6,0006,000
Profit and loss account28,384(26,577)
Shareholders' funds34,384(20,577)
The financial statements were approved and authorised for issue by the Director on 18 June 2024, and are signed on its behalf by:
SHOUKAT, Sana Ullah
Director
Registered Company No. 09996363
SNAPIT TODAY LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 March 233,2739,85313,126
Disposals-(9,853)(9,853)
At 29 February 243,273-3,273
Depreciation and impairment
At 01 March 231,9649,85311,817
Charge for year654-654
On disposals-(9,853)(9,853)
At 29 February 242,618-2,618
Net book value
At 29 February 24655-655
At 28 February 231,309-1,309
4.Stocks
Iinventories are measured at the lower of cost and net realisable value. ‘Cost’ includes all costs of bringing the item to its current location and condition.

2024

2023

££
Finished goods95,65048,418
Total95,65048,418
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-14,418
Bank borrowings and overdrafts-1,604
Taxation and social security13,9476,228
Other creditors43,49729,151
Total57,44451,401
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts23,86027,574
Total23,86027,574
Long term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.