Registered number
04464445
Shnaps Limited
Filleted Accounts
15 October 2024
Shnaps Limited
Registered number: 04464445
Balance Sheet
as at 15 October 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 - 190,000
Current assets
Cash at bank and in hand - 11,220
Creditors: amounts falling due within one year 4 - (83,364)
Net current liabilities - (72,144)
Net assets - 117,856
Capital and reserves
Called up share capital 3 3
Revaluation reserve 5 - 13,014
Profit and loss account (3) 104,839
Shareholders' funds - 117,856
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Hiles
Director
Approved by the board on 16 October 2024
Shnaps Limited
Notes to the Accounts
for the period from 1 July 2023 to 15 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Investment Property
Other
investments
£
Cost
At 1 July 2023 190,000
Disposals (190,000)
At 15 October 2024 -
4 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 80,000
Taxation and social security costs - 2,167
Other creditors - 1,197
- 83,364
5 Revaluation reserve 2024 2023
£ £
At 1 July 2023 13,014 -
(Loss)/gain on revaluation of land and buildings (13,014) 13,014
At 15 October 2024 - 13,014
6 Other information
Shnaps Limited is a private company limited by shares and incorporated in England. Its registered office is:
Ocean 80 1st Floor
80 Holdenhurst Road
Bournemouth
BH8 8AQ
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