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REGISTERED NUMBER: 09604638 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

SNIKARTS LIMITED

SNIKARTS LIMITED (REGISTERED NUMBER: 09604638)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SNIKARTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr N J Ellis





REGISTERED OFFICE: Fraser Ross House
24 Broad Street
Stamford
Lincolnshire
PE9 1PJ





REGISTERED NUMBER: 09604638 (England and Wales)





ACCOUNTANTS: Brayshaw Morey
Certified Public Accountants
Fraser Ross House
24 Broad Street
Stamford
Lincolnshire
PE9 1PJ

SNIKARTS LIMITED (REGISTERED NUMBER: 09604638)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 36,257 16,716
Investments 6 115,071 112,108
151,328 128,824

CURRENT ASSETS
Stocks 30,500 -
Debtors 7 5,769 12,157
Cash at bank 26,795 46,679
63,064 58,836
CREDITORS
Amounts falling due within one year 8 13,877 20,392
NET CURRENT ASSETS 49,187 38,444
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,515

167,268

PROVISIONS FOR LIABILITIES 6,723 2,975
NET ASSETS 193,792 164,293

CAPITAL AND RESERVES
Called up share capital 9 4 4
Retained earnings 10 193,788 164,289
SHAREHOLDERS' FUNDS 193,792 164,293

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SNIKARTS LIMITED (REGISTERED NUMBER: 09604638)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2024


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 director and authorised for issue on 29 August 2024 and were signed by:





Mr N J Ellis - Director


SNIKARTS LIMITED (REGISTERED NUMBER: 09604638)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Snikarts 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 etc - 33% on cost and 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 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.

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.

SNIKARTS LIMITED (REGISTERED NUMBER: 09604638)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 56,281
Additions 34,997
Disposals (3,500 )
At 31 May 2024 87,778
DEPRECIATION
At 1 June 2023 39,565
Charge for year 14,625
Eliminated on disposal (2,669 )
At 31 May 2024 51,521
NET BOOK VALUE
At 31 May 2024 36,257
At 31 May 2023 16,716

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.5.24 31.5.23
£    £   
Artwork investment b/fwd 112,107 92,297
Artwork investments 2,964 19,811
115,071 112,108

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 314 395
Other debtors 5,455 11,762
5,769 12,157

SNIKARTS LIMITED (REGISTERED NUMBER: 09604638)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Taxation and social security 11,397 18,267
Other creditors 2,480 2,125
13,877 20,392

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary £1.00 2 2
1 B Ordinary £1.00 1 1
1 C Ordinary £1.00 1 1
4 4

10. RESERVES
Retained
earnings
£   

At 1 June 2023 164,289
Profit for the year 29,999
Dividends (500 )
At 31 May 2024 193,788