Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-312024-04-01falsefalseNo description of principal activity00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14315156 2024-03-31 14315156 2024-04-01 2024-08-31 14315156 2022-04-02 2024-03-31 14315156 2024-08-31 14315156 c:Director1 2024-04-01 2024-08-31 14315156 d:PlantMachinery 2024-04-01 2024-08-31 14315156 d:PlantMachinery 2024-08-31 14315156 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2024-08-31 14315156 d:MotorVehicles 2024-04-01 2024-08-31 14315156 d:MotorVehicles 2024-08-31 14315156 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-04-01 2024-08-31 14315156 d:OwnedOrFreeholdAssets 2024-04-01 2024-08-31 14315156 d:CurrentFinancialInstruments 2024-08-31 14315156 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 14315156 d:ShareCapital 2024-08-31 14315156 d:RetainedEarningsAccumulatedLosses 2024-08-31 14315156 c:OrdinaryShareClass1 2024-04-01 2024-08-31 14315156 c:OrdinaryShareClass1 2024-08-31 14315156 c:FRS102 2024-04-01 2024-08-31 14315156 c:AuditExempt-NoAccountantsReport 2024-04-01 2024-08-31 14315156 c:FullAccounts 2024-04-01 2024-08-31 14315156 c:PrivateLimitedCompanyLtd 2024-04-01 2024-08-31 14315156 2 2024-04-01 2024-08-31 14315156 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-08-31 14315156 d:LeasedAssetsHeldAsLessee 2024-08-31 14315156 e:PoundSterling 2024-04-01 2024-08-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 14315156





SNOW AND PADDLES LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024




















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SNOW AND PADDLES LTD
REGISTERED NUMBER:14315156

BALANCE SHEET
AS AT 31 AUGUST 2024

Period ended 2024
Note
£

Fixed assets
  

Tangible assets
 4 
31,506

  
31,506

Current assets
  

Debtors: amounts falling due within one year
 5 
13,191

Cash at bank and in hand
  
16,433

  
29,624

Creditors: amounts falling due within one year
 6 
(87,705)

Net current (liabilities)/assets
  
 
 
(58,081)

Total assets less current liabilities
  
(26,575)

  

Net (liabilities)/assets
  
(26,575)


Capital and reserves
  

Called up share capital 
 7 
1

Profit and loss account
  
(26,576)

  
(26,575)


Page 1

 
SNOW AND PADDLES LTD
REGISTERED NUMBER:14315156
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 February 2025.




N Startin
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SNOW AND PADDLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

1.


General information

 Snow and Paddles Ltd is a private company limited by shares, domiciled in England and Wales. The
registered office address is 3 Chapel Court Cottages, Budlake, Exeter, England, EX5 3JT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on the going concern basis, despite the company being in a net
liability position of £28,688. The director continues to support the company and have considered
the current financial position of the company, as well as the availability of working capital and have
concluded that it is a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
 
Page 3

 
SNOW AND PADDLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.3
Revenue (continued)


Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Straight-line
Motor vehicles
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

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.

Page 4

 
SNOW AND PADDLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

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.

 
2.9

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.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Page 5

 
SNOW AND PADDLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The Company has no employees other than the director, who did not receive any remuneration.


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


Additions
10,603
35,600
46,203


Disposals
(5,333)
-
(5,333)



At Period Ended 31 August 2024

5,270
35,600
40,870



Depreciation


Charge for the Period on owned assets
3,392
7,120
10,512


Disposals
(1,148)
-
(1,148)



At Period Ended 31 August 2024

2,244
7,120
9,364



Net book value



At Period Ended 31 August 2024
3,026
28,480
31,506

Page 6

 
SNOW AND PADDLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


Period ended 2024
£



Plant and machinery
2,093

2,093


5.


Debtors

Period ended 2024
£


Trade debtors
10,132

Other debtors
3,059

13,191



6.


Creditors: Amounts falling due within one year

Period ended 2024
£

Other creditors
71,984

Accruals and deferred income
15,721

87,705



7.


Share capital

Period ended 2024
£
Allotted, called up and fully paid


1 Ordinary share share of £1.00
1


On the date of incorporation, 24 August 2022, 1 Ordinary share was issued with a value of £1.00 each.

Page 7

 
SNOW AND PADDLES LTD
 
 
 Page 8