Snowtart Ltd 07560768 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of specialist retail. Digita Accounts Production Advanced 6.30.9574.0 true true 07560768 2023-04-01 2024-03-31 07560768 2024-03-31 07560768 core:RetainedEarningsAccumulatedLosses 2024-03-31 07560768 core:ShareCapital 2024-03-31 07560768 core:CurrentFinancialInstruments 2024-03-31 07560768 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07560768 core:Non-currentFinancialInstruments 2024-03-31 07560768 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 07560768 core:OfficeEquipment 2024-03-31 07560768 bus:SmallEntities 2023-04-01 2024-03-31 07560768 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07560768 bus:FilletedAccounts 2023-04-01 2024-03-31 07560768 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07560768 bus:RegisteredOffice 2023-04-01 2024-03-31 07560768 bus:Director1 2023-04-01 2024-03-31 07560768 bus:Director2 2023-04-01 2024-03-31 07560768 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07560768 core:ComputerSoftware 2023-04-01 2024-03-31 07560768 core:OfficeEquipment 2023-04-01 2024-03-31 07560768 countries:EnglandWales 2023-04-01 2024-03-31 07560768 2023-03-31 07560768 core:OfficeEquipment 2023-03-31 07560768 2022-04-01 2023-03-31 07560768 2023-03-31 07560768 core:RetainedEarningsAccumulatedLosses 2023-03-31 07560768 core:ShareCapital 2023-03-31 07560768 core:CurrentFinancialInstruments 2023-03-31 07560768 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07560768 core:Non-currentFinancialInstruments 2023-03-31 07560768 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 07560768

Snowtart Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Snowtart Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Snowtart Ltd

Company Information

Directors

Mr AJ Westwood

Mrs L Westwood

Registered office

Unit 19 Barham Business Park
Elham Valley Road
Canterbury
Kent
CT4 6DQ

 

Snowtart Ltd

(Registration number: 07560768)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

6

55,566

66,584

Cash at bank and in hand

 

944

1,020

 

56,510

67,604

Creditors: Amounts falling due within one year

7

(10,204)

(9,952)

Total assets less current liabilities

 

46,306

57,652

Creditors: Amounts falling due after more than one year

7

(77,216)

(87,417)

Net liabilities

 

(30,910)

(29,765)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(30,911)

(29,766)

Shareholders' deficit

 

(30,910)

(29,765)

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 September 2024 and signed on its behalf by:
 

.........................................
Mr AJ Westwood
Director

.........................................
Mrs L Westwood
Director

 
     
 

Snowtart Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 19 Barham Business Park
Elham Valley Road
Canterbury
Kent
CT4 6DQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Snowtart Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software development

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Snowtart Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Intangible assets

Cost or valuation

Amortisation

Carrying amount

At 31 March 2024

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

13,429

13,429

At 31 March 2024

13,429

13,429

Depreciation

At 1 April 2023

13,429

13,429

At 31 March 2024

13,429

13,429

Carrying amount

At 31 March 2024

-

-

 

Snowtart Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

31,774

42,774

Other debtors

 

735

753

Deferred tax assets

23,057

23,057

 

55,566

66,584

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,204

9,952

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

77,216

87,417

 

Snowtart Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,216

22,417

Redeemable preference shares

65,000

65,000

77,216

87,417

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,204

9,952