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Registration number: 03188135

Snow Business International Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Snow Business International Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Snow Business International Ltd

Company Information

Director

DE Crownshaw

Registered office

The Snow Mill
Bridge Road
Ebley
Stroud
Gloucestershire
GL5 4TR

Accountants

Clement Rabjohns Limited
Chartered Accountants
111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

Snow Business International Ltd

(Registration number: 03188135)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

957,009

945,141

Current assets

 

Stocks

5

260,967

163,796

Debtors

6

186,569

245,428

Cash at bank and in hand

 

752,843

1,317,870

 

1,200,379

1,727,094

Creditors: Amounts falling due within one year

7

(54,255)

(163,893)

Net current assets

 

1,146,124

1,563,201

Total assets less current liabilities

 

2,103,133

2,508,342

Provisions for liabilities

(126,762)

(121,115)

Net assets

 

1,976,371

2,387,227

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

1,975,371

2,386,227

Shareholders' funds

 

1,976,371

2,387,227

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 August 2024
 

 

Snow Business International Ltd

(Registration number: 03188135)
Balance Sheet as at 30 April 2024

.........................................
DE Crownshaw
Director

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
The Snow Mill
Bridge Road
Ebley
Stroud
Gloucestershire
GL5 4TR
United Kingdom

These financial statements were authorised for issue by the director on 30 August 2024.

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.

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Changes in accounting policy

The following have been applied for the first time from 1 May 2023 and have had an effect on the financial statements:

Depreciation rates

Depreciation rates for fixtures and fittings and office equipment have been changed from 15% straight line to 20% straight line to better reflect the useful life of the assets held in these classifications. The change has an immaterial impact on the financial statements and therefore has not been adjusted in the prior period

Revenue recognition

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

The company recognises revenue on the sale of goods on despatch of the goods.

The company recognises revenue from events once the event has occurred. Any invoicing in advance is recognised as accrued income in the Balance Sheet and is released to the Profit and Loss Account once the event has occurred.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Individual freehold and leasehold properties are carried at fair value at the date of revaluation less any subsequent accumulated depreciation. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from the fair value as at the balance sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

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

Tenant improvements

4% straight line basis

Plant and machinery

20% straight line basis

Motor vehicles

15% straight line basis

Fixtures and fittings

20% straight line basis

Office equipment

20% straight line basis

Leasehold property

Straight line over 50 years

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2023 - 14).

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Leasehold property
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

468,767

162,669

308,275

63,161

420,999

1,423,871

Additions

-

15,403

37,524

3,822

134,084

190,833

Disposals

-

(6,161)

(14,398)

(27,900)

-

(48,459)

At 30 April 2024

468,767

171,911

331,401

39,083

555,083

1,566,245

Depreciation

At 1 May 2023

8,085

48,923

174,942

42,368

204,411

478,729

Charge for the year

10,610

33,761

48,720

8,837

73,714

175,642

Eliminated on disposal

-

(6,161)

(11,130)

(27,844)

-

(45,135)

At 30 April 2024

18,695

76,523

212,532

23,361

278,125

609,236

Carrying amount

At 30 April 2024

450,072

95,388

118,869

15,722

276,958

957,009

At 30 April 2023

460,682

113,746

133,332

20,793

216,588

945,141

 

Snow Business International Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Included within the net book value of leasehold property above is £406,365 in respect of long leasehold land and buildings, and £54,317 (2022 - £56,786 ) in respect of tenants improvements.

5

Stocks

2024
£

2023
£

Other inventories

260,967

163,796

6

Debtors

Current

2024
£

2023
£

Trade debtors

131,334

194,752

Prepayments

51,735

50,676

Other debtors

3,500

-

 

186,569

245,428

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

20,002

56,308

Taxation and social security

21,193

72,425

Accruals and deferred income

9,822

32,237

Other creditors

3,238

2,923

54,255

163,893

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

9

Parent and ultimate parent undertaking

The company's immediate parent is Snow Business Holdings Limited, incorporated in England and Wales.