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REGISTERED NUMBER: SC413455 (Scotland)











Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Snet Eyewear Limited

Snet Eyewear Limited (Registered number: SC413455)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Snet Eyewear Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: F C R Andrewes
S W Lewis





REGISTERED OFFICE: 3 Prospect Place
Westhill
Aberdeenshire
AB32 6SY





REGISTERED NUMBER: SC413455 (Scotland)





ACCOUNTANTS: Grampian Accounting
3 Prospect Place
Arnhall Business Park
Westhill
Aberdeenshire
AB32 6SY

Snet Eyewear Limited (Registered number: SC413455)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,359 6,901
Tangible assets 5 89 125
4,448 7,026

CURRENT ASSETS
Stocks 77,285 125,539
Debtors 6 33,346 175,648
Cash at bank 40,182 88,847
150,813 390,034
CREDITORS
Amounts falling due within one year 7 350,870 425,395
NET CURRENT LIABILITIES (200,057 ) (35,361 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(195,609

)

(28,335

)

CAPITAL AND RESERVES
Called up share capital 5,490 5,490
Share premium 459,339 459,339
Retained earnings (660,438 ) (493,164 )
(195,609 ) (28,335 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

Snet Eyewear Limited (Registered number: SC413455)

Balance Sheet - continued
30 April 2024


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 April 2025 and were signed on its behalf by:





F C R Andrewes - Director


Snet Eyewear Limited (Registered number: SC413455)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Snet Eyewear Limited is a private company, limited by shares , registered in Scotland. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of seven years.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Snet Eyewear Limited (Registered number: SC413455)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 4 ).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 30,750
AMORTISATION
At 1 May 2023 23,849
Charge for year 2,542
At 30 April 2024 26,391
NET BOOK VALUE
At 30 April 2024 4,359
At 30 April 2023 6,901

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 6,883
DEPRECIATION
At 1 May 2023 6,758
Charge for year 36
At 30 April 2024 6,794
NET BOOK VALUE
At 30 April 2024 89
At 30 April 2023 125

Snet Eyewear Limited (Registered number: SC413455)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 17,929 151,280
Other debtors 15,417 24,368
33,346 175,648

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 9,116 21,561
Taxation and social security 390 354
Other creditors 341,364 403,480
350,870 425,395