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REGISTERED NUMBER: 06346206 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SNOWBIRD FINANCE LIMITED

SNOWBIRD FINANCE LIMITED (REGISTERED NUMBER: 06346206)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SNOWBIRD FINANCE LIMITED

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2023







DIRECTORS: S R Freeman
Mrs S J Freeman





REGISTERED OFFICE: 88 North Street
Hornchurch
Essex
RM11 1SR





REGISTERED NUMBER: 06346206 (England and Wales)





ACCOUNTANTS: Lipson & Co
88 North Street
Hornchurch
Essex
RM11 1SR

SNOWBIRD FINANCE LIMITED (REGISTERED NUMBER: 06346206)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 96,237 114,343

CURRENT ASSETS
Debtors 5 29,991 35,826
Cash at bank 99,517 141,742
129,508 177,568
CREDITORS
Amounts falling due within one year 6 121,525 147,976
NET CURRENT ASSETS 7,983 29,592
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,220

143,935

CREDITORS
Amounts falling due after more than one year 7 54,771 66,228
NET ASSETS 49,449 77,707

CAPITAL AND RESERVES
Called up share capital 201 201
Retained earnings 49,248 77,506
SHAREHOLDERS' FUNDS 49,449 77,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





S R Freeman - Director


SNOWBIRD FINANCE LIMITED (REGISTERED NUMBER: 06346206)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Snowbird Finance 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. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 10% on cost
Computer equipment - 25% on reducing balance

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 balance sheet date.

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 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 year was 7 (2022 - 5 ) .

SNOWBIRD FINANCE LIMITED (REGISTERED NUMBER: 06346206)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 183,963 88,601 272,564
Additions - 8,422 8,422
At 31 December 2023 183,963 97,023 280,986
DEPRECIATION
At 1 January 2023 91,241 66,980 158,221
Charge for year 18,397 8,131 26,528
At 31 December 2023 109,638 75,111 184,749
NET BOOK VALUE
At 31 December 2023 74,325 21,912 96,237
At 31 December 2022 92,722 21,621 114,343

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 95,683
DEPRECIATION
At 1 January 2023 38,473
Charge for year 9,569
At 31 December 2023 48,042
NET BOOK VALUE
At 31 December 2023 47,641
At 31 December 2022 57,210

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,862 2,593
Other debtors 10,494 30,000
VAT - 2,217
Prepayments 6,635 1,016
29,991 35,826

SNOWBIRD FINANCE LIMITED (REGISTERED NUMBER: 06346206)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,809 28,509
Hire purchase contracts 22,596 52,922
Trade creditors 16,778 8,652
Tax 40,603 50,937
Social security and other taxes 6,441 4,695
VAT 2,746 -
Other creditors 1,324 687
Directors' current accounts 128 474
Accrued expenses 1,100 1,100
121,525 147,976

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 31,108 29,809
Bank loans - 2-5 years 5,311 36,419
Hire purchase contracts 18,352 -
54,771 66,228

8. ULTIMATE CONTROLLING PARTY

The controlling party is S R Freeman.