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REGISTERED NUMBER: 13741070 (England and Wales)















Unaudited Financial Statements

for the Period 1 December 2022 to 31 March 2024

for

Snug Home Insulations Ltd

Snug Home Insulations Ltd (Registered number: 13741070)






Contents of the Financial Statements
for the Period 1 December 2022 to 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Snug Home Insulations Ltd

Company Information
for the Period 1 December 2022 to 31 March 2024







DIRECTORS: Mr L K Brumhead
Mr S P Rhoades



REGISTERED OFFICE: 534-536 Hessle ROad
Hull
East Yorkshire
HU3 5BQ



REGISTERED NUMBER: 13741070 (England and Wales)



BANKERS: Starling Bank
5th Floor, Fruit & Wool Exchange
Duval Square
London
E1 6PW

Snug Home Insulations Ltd (Registered number: 13741070)

Abridged Balance Sheet
31 March 2024

31.3.24 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,291 44,821

CURRENT ASSETS
Stocks 90,000 32,000
Debtors 182,671 54,140
Cash at bank and in hand 21,943 14,705
294,614 100,845
CREDITORS
Amounts falling due within one year 284,586 101,098
NET CURRENT ASSETS/(LIABILITIES) 10,028 (253 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,319

44,568

CREDITORS
Amounts falling due after more than one
year

28,038

36,171
NET ASSETS 26,281 8,397

CAPITAL AND RESERVES
Called up share capital 5 103 1
Retained earnings 26,178 8,396
SHAREHOLDERS' FUNDS 26,281 8,397

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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.

Snug Home Insulations Ltd (Registered number: 13741070)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 August 2024 and were signed on its behalf by:





Mr L K Brumhead - Director


Snug Home Insulations Ltd (Registered number: 13741070)

Notes to the Financial Statements
for the Period 1 December 2022 to 31 March 2024

1. STATUTORY INFORMATION

Snug Home Insulations Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the period 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 balance sheet date.


Snug Home Insulations Ltd (Registered number: 13741070)

Notes to the Financial Statements - continued
for the Period 1 December 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued
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 period 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 period was 5 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022 59,762
Additions 22,866
At 31 March 2024 82,628
DEPRECIATION
At 1 December 2022 14,941
Charge for period 23,396
At 31 March 2024 38,337
NET BOOK VALUE
At 31 March 2024 44,291
At 30 November 2022 44,821

Snug Home Insulations Ltd (Registered number: 13741070)

Notes to the Financial Statements - continued
for the Period 1 December 2022 to 31 March 2024

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 30.11.22
value: £    £   
1 Ordinary £1 100 1
1 A Ordinary £1 1 -
1 B Ordinary £1 1 -
1 C Ordinary £1 1 -
103 1

Allotted and issued:
Number: Class: Nominal 31.3.24 30.11.22
value: £    £   
1 Share capital 2 £1 1 -
1 Share capital 3 £1 1 -
1 Share capital 4 £1 1 -
3 -

The following shares were issued during the period for cash at par :

1 A Ordinary share of £1
1 B Ordinary share of £1
1 C Ordinary share of £1