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Logo On Report
Registered Number: 07740663
England and Wales

 

 

 

SNAPDRAGON PARTIES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Accountants report

You consider that the company is exempt from an audit for the year ended 30 November 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

Grace Bellairs Accountants Ltd

30 November 2023



....................................................
Grace Bellairs Accountants Ltd
27 Leith Hill
Orpington
Kent
BR5 2RS
27 August 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 18,943    18,960 
Investments 4 108,887    108,694 
127,830    127,654 
Current assets      
Debtors (46,758)   (217,843)
Cash at bank and in hand 309,359    518,195 
262,601    300,352 
Creditors: amount falling due within one year (144,036)   (205,522)
Net current assets 118,565    94,830 
 
Total assets less current liabilities 246,395    222,484 
Provisions for liabilities (520)  
Net assets 245,875    222,484 
 

Capital and reserves
     
Called up share capital 100    100 
General Reserves 5 222,384    (219,409)
Profit and loss account 23,391    441,793 
Shareholders' funds 245,875    222,484 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 August 2024 and were signed on its behalf by:


-------------------------------
Mrs J Dowling
Director
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General Information
Snapdragon Parties Limited is a private company, limited by shares, registered in England and Wales, registration number 07740663, registration address 142 CROMWELL ROAD, LONDON ENGLAND, SW7 4EF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Non-returnable deposits received for the planning of events are accounted for when invoiced, representing the work carried out to secure the planning stages. The balance of planning fees are accounted for in the period of the event delivery.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a longterm interest and where the company has significant influence. The company considers that it has significant
influence where it has the power to participate in the financial and operating decisions of the associate. Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 December 2022 32,024    24,162    15,754    71,940 
Additions     4,730    4,730 
Disposals      
At 30 November 2023 32,024    24,162    20,484    76,670 
Depreciation
At 01 December 2022 27,237    20,668    5,075    52,980 
Charge for year 1,197    874    2,676    4,747 
On disposals      
At 30 November 2023 28,434    21,542    7,751    57,727 
Net book values
Closing balance as at 30 November 2023 3,590    2,620    12,733    18,943 
Opening balance as at 01 December 2022 4,787    3,494    10,679    18,960 


4.

Investments

Cost Loans to participating interests   Other investments other than loans   Total
  £   £   £
At 01 December 2022    
Additions    
Transfer to/from tangible fixed assets 62,772    51    62,823 
Disposals    
At 30 November 2023 62,772    51    62,823 

5.

General Reserves

2023
£
  2022
£
General Reserve b/fwd 222,384    (219,409)
222,384    (219,409)

6.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Snapdragon London Limited193 62,771 62,578 
Tetra Global Holdings Limited46,065 46,065 
Julia Dowling52,662 (49,976)(102,638)
Douglas Johnson(10,042)(10,042)

As at the balance sheet date £62,771 (2022: £62,578) was due from Snapdragon London Ltd, the parent company.
As at the balance sheet date an amount of £46,065 (2022: £46,065) was due from Tetra Global Holdings Limited, a subsidiary company.
As at the balance sheet date an amount of £49,976 (2022: £102,638 was owed to Mrs J Dowling, a director of the company.
As at the balance sheet date an amount of £10,042.90 (2022: £10,042.90) was owed to Mr D Johnson, a director of the company.
3