Snark Ltd 09418301 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is service activities incidental to water transportation. Digita Accounts Production Advanced 6.30.9574.0 true true 09418301 2023-05-01 2024-04-30 09418301 2024-04-30 09418301 bus:OrdinaryShareClass1 2024-04-30 09418301 core:RetainedEarningsAccumulatedLosses 2024-04-30 09418301 core:ShareCapital 2024-04-30 09418301 core:CurrentFinancialInstruments 2024-04-30 09418301 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 09418301 core:Non-currentFinancialInstruments 2024-04-30 09418301 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 09418301 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 09418301 core:MotorVehicles 2024-04-30 09418301 core:OfficeEquipment 2024-04-30 09418301 core:PlantMachinery 2024-04-30 09418301 bus:SmallEntities 2023-05-01 2024-04-30 09418301 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 09418301 bus:FilletedAccounts 2023-05-01 2024-04-30 09418301 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 09418301 bus:RegisteredOffice 2023-05-01 2024-04-30 09418301 bus:Director1 2023-05-01 2024-04-30 09418301 bus:Director2 2023-05-01 2024-04-30 09418301 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 09418301 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09418301 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09418301 core:MotorVehicles 2023-05-01 2024-04-30 09418301 core:OfficeEquipment 2023-05-01 2024-04-30 09418301 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 09418301 core:PlantMachinery 2023-05-01 2024-04-30 09418301 core:ShipsBoats 2023-05-01 2024-04-30 09418301 countries:England 2023-05-01 2024-04-30 09418301 2023-04-30 09418301 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 09418301 core:MotorVehicles 2023-04-30 09418301 core:OfficeEquipment 2023-04-30 09418301 core:PlantMachinery 2023-04-30 09418301 2022-05-01 2023-04-30 09418301 2023-04-30 09418301 bus:OrdinaryShareClass1 2023-04-30 09418301 core:RetainedEarningsAccumulatedLosses 2023-04-30 09418301 core:ShareCapital 2023-04-30 09418301 core:CurrentFinancialInstruments 2023-04-30 09418301 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 09418301 core:Non-currentFinancialInstruments 2023-04-30 09418301 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 09418301 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 09418301 core:MotorVehicles 2023-04-30 09418301 core:OfficeEquipment 2023-04-30 09418301 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09418301

Snark Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Snark Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Snark Ltd

(Registration number: 09418301)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

540,620

532,137

Current assets

 

Debtors

5

12,187

7,385

Cash at bank and in hand

 

1,540

8,203

 

13,727

15,588

Creditors: Amounts falling due within one year

6

(6,817)

(25,419)

Net current assets/(liabilities)

 

6,910

(9,831)

Total assets less current liabilities

 

547,530

522,306

Creditors: Amounts falling due after more than one year

6

(346,174)

(307,261)

Net assets

 

201,356

215,045

Capital and reserves

 

Called up share capital

7

384,000

384,000

Retained earnings

(182,644)

(168,955)

Shareholders' funds

 

201,356

215,045

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.

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 14 January 2025 and signed on its behalf by:
 

.........................................
Mr P M Jenkins
Director

.........................................
Ms Q Feng
Director

 
     
 

Snark 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.

The address of its registered office is:
Unit 4G
Oakland Office Park
Aerodrome Road
Gosport
Hampshire
PO13 0GY
UK

The principal place of business is:
Piazza Terracina
Exeter
Devon
EX2 8GT
United Kingdom

These financial statements were authorised for issue by the Board on 14 January 2025.

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

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 receivable for the 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 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.

 

Snark Ltd

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

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.

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

Motor vehicles

20% straight line balance

Plant and machinery

33% straight line balance

Boat

Held at cost

Office equipment

25% straight line balance

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 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.

 

Snark Ltd

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

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 0 (2023 - 0).

 

Snark Ltd

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

4

Tangible assets

Boat
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

526,420

14,956

1,023

6,190

548,589

Additions

10,105

-

1,807

-

11,912

Disposals

-

-

-

(6,190)

(6,190)

At 30 April 2024

536,525

14,956

2,830

-

554,311

Depreciation

At 1 May 2023

-

9,743

519

6,190

16,452

Charge for the year

-

2,721

708

-

3,429

Eliminated on disposal

-

-

-

(6,190)

(6,190)

At 30 April 2024

-

12,464

1,227

-

13,691

Carrying amount

At 30 April 2024

536,525

2,492

1,603

-

540,620

At 30 April 2023

526,420

5,213

504

-

532,137

 

Snark Ltd

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

5

Debtors

Current

2024
£

2023
£

Trade debtors

2,858

3,915

Prepayments

6,289

-

Other debtors

3,040

3,470

 

12,187

7,385

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

4,600

4,600

Trade creditors

 

372

13,174

Accruals and deferred income

 

525

525

Other creditors

 

1,320

7,120

 

6,817

25,419

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

346,174

307,261

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

384,000

384,000

384,000

384,000

       
 

Snark Ltd

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,873

9,248

Other borrowings

341,301

298,013

346,174

307,261

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,600

4,600