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REGISTERED NUMBER: 11351191 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SNAPGROUP TECHNOLOGY LIMITED

SNAPGROUP TECHNOLOGY LIMITED (REGISTERED NUMBER: 11351191)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SNAPGROUP TECHNOLOGY LIMITED

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTORS: Mr D Marcus
Mr Z Ohana
Mr Y Aroch
Mr A J Aviram





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 11351191 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

SNAPGROUP TECHNOLOGY LIMITED (REGISTERED NUMBER: 11351191)

ABRIDGED BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 89,445 89,445

CURRENT ASSETS
Debtors 360 360
Cash in hand 100 100
460 460
CREDITORS
Amounts falling due within one year 163,793 163,793
NET CURRENT LIABILITIES (163,333 ) (163,333 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(73,888

)

(73,888

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (73,988 ) (73,988 )
SHAREHOLDERS' FUNDS (73,888 ) (73,888 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

SNAPGROUP TECHNOLOGY LIMITED (REGISTERED NUMBER: 11351191)

ABRIDGED BALANCE SHEET - continued
31 May 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 February 2025 and were signed on its behalf by:





Mr A J Aviram - Director


SNAPGROUP TECHNOLOGY LIMITED (REGISTERED NUMBER: 11351191)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Snapgroup Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors.

Computer software
Computer software, being the amount paid in 2019, is being amortised evenly over its estimated useful life of ten years.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

SNAPGROUP TECHNOLOGY LIMITED (REGISTERED NUMBER: 11351191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Research and development expenditure
Expenditure on research activities is recognised as an expense in the period in which it is incurred.

In the event that an internally generated intangible asset arises from the company's development activities then it will be recognised only if all of the following conditions are met:
- An asset is created that can be identified;
- The project from which the asset arises meets the company's criteria for assessing technical feasibility;
- It is probable that the asset created will generate future economic benefits; and
- The development cost of the asset can be measured reliably.

Internally generated intangible assets are amortised on a straight-line basis over their useful lives. Where no
internally generated intangible asset can be recognised, development expenditure is recognised as an expense in the period in which it is incurred.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 89,445
NET BOOK VALUE

At 31 May 2024 89,445
At 31 May 2023 89,445

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 24 24

Bank overdraft is secured against the director's personal guarantee.

6. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £3,701 (2023 - £3,701) to Mr A J Aviram, a director.