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REGISTERED NUMBER: 13214701 (England and Wales)















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SNAPPY APP UK LTD.

SNAPPY APP UK LTD. (REGISTERED NUMBER: 13214701)

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


SNAPPY APP UK LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D Cohen
C Ovadia





REGISTERED OFFICE: 6th Floor One London Wall
London
EC2Y 5EB





REGISTERED NUMBER: 13214701 (England and Wales)





AUDITORS: Mark Arber Limited
71-75 Shelton Street
Covent Garden
London
London
WC2H 9JQ

SNAPPY APP UK LTD. (REGISTERED NUMBER: 13214701)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £
CURRENT ASSETS
Debtors: amounts falling due within
one year

4

59,806

407,689
Cash at bank 6,990 17,970
66,796 425,659
CREDITORS
Amounts falling due within one year 5 (46,758 ) (72,068 )
NET CURRENT ASSETS 20,038 353,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,038

353,591

CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves - 368,651
Retained earnings 20,037 (15,061 )
SHAREHOLDERS' FUNDS 20,038 353,591

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 30 September 2024 and were signed on its behalf by:





D Cohen - Director


SNAPPY APP UK LTD. (REGISTERED NUMBER: 13214701)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Snappy App UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

SNAPPY APP UK LTD. (REGISTERED NUMBER: 13214701)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. 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.

Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The company has continued financial support as needed from the parent company to provide capital to meet liabilities when they fall due. The directors have sought and received assurances from the parent company that financial support will be forthcoming for the next 12 months. Having regard to the above and in assessing the going concern the directors have confirmed continued financial support will be provided for the foreseeable future on that basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Share based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

Interest Income

Interest income is recognised in profit or loss using the effective interest method.

SNAPPY APP UK LTD. (REGISTERED NUMBER: 13214701)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Cash and cash equivalent
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 6 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed by group undertakings - 406,167
Tax 59,425 -
VAT 381 1,522
59,806 407,689

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors - 3,667
Amounts owed to group undertakings 43,261 -
Corporation tax - 59,425
Other creditors - 1,199
Accrued expenses 3,497 7,777
46,758 72,068

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Arber (Senior Statutory Auditor)
for and on behalf of Mark Arber Limited

7. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,700 (2022: £16,456) Contributions totalling nil (2022: £1,063) were payable to the fund at the balance sheet date and are included in creditors.

SNAPPY APP UK LTD. (REGISTERED NUMBER: 13214701)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Snappy App Inc.

The Company is a wholly owned subsidiary of Snappy App Inc., a company incorporated in the United States of America.

The smallest group in which the results of the Company are consolidated is that headed by
Snappy App Inc, with its registered office at 33 Irving Pl FL 5 5021 New York, NY, 10003-2332 United States.

10. SHARE-BASED PAYMENT TRANSACTIONS

The company has taken the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning equity instruments of another group entity.