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Registration number: 05549371

Snowslippers Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Snowslippers Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 11

 

Snowslippers Limited

Company Information

Directors

Mrs Beti Wyn Williams

Mr Danijel Jurkovic

Registered office

14 Park Road
Clydach
Swansea

Accountants

Fergusons and Peters
4 High Street
Pontardawe
Swansea
West Glamorgan
SA8 4HU

 

Snowslippers Limited

Directors' Report for the Year Ended 30 September 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors of the company

The directors who held office during the year were as follows:

Mrs Beti Wyn Williams

Mr Danijel Jurkovic

Principal activity

The principal activity of the company is Ski Tours

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

.........................................
Mr Danijel Jurkovic
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Snowslippers Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Snowslippers Limited for the year ended 30 September 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Snowslippers Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Snowslippers Limited and state those matters that we have agreed to state to the Board of Directors of Snowslippers Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Snowslippers Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Snowslippers Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Snowslippers Limited. You consider that Snowslippers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Snowslippers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Fergusons and Peters
4 High Street
Pontardawe
Swansea
West Glamorgan
SA8 4HU

25 November 2024

 

Snowslippers Limited

(Registration number: 05549371)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

1

1

Tangible assets

6

36,644

51,161

 

36,645

51,162

Current assets

 

Debtors

7

24,705

258

Cash at bank and in hand

 

1,009,554

742,926

 

1,034,259

743,184

Creditors: Amounts falling due within one year

8

(653,850)

(453,385)

Net current assets

 

380,409

289,799

Net assets

 

417,054

340,961

Capital and reserves

 

Called up share capital

9

51,000

51,000

Retained earnings

366,054

289,961

Shareholders' funds

 

417,054

340,961

For the financial year ending 30 September 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.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

.........................................
Mr Danijel Jurkovic
Director

 

Snowslippers Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
14 Park Road
Clydach
Swansea

These financial statements were authorised for issue by the Board on 25 November 2024.

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Snowslippers Limited

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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 merchandise sold or 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.

 

Snowslippers Limited

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

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

14,517

14,736

Amortisation expense

-

4,999

 

Snowslippers Limited

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

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

100,000

100,000

At 30 September 2024

100,000

100,000

Amortisation

At 1 October 2023

99,999

99,999

At 30 September 2024

99,999

99,999

Carrying amount

At 30 September 2024

1

1

At 30 September 2023

1

1

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

6,344

69,496

10,523

86,363

At 30 September 2024

6,344

69,496

10,523

86,363

Depreciation

At 1 October 2023

4,450

20,240

10,512

35,202

Charge for the year

618

13,899

-

14,517

At 30 September 2024

5,068

34,139

10,512

49,719

Carrying amount

At 30 September 2024

1,276

35,357

11

36,644

At 30 September 2023

1,894

49,256

11

51,161

7

Debtors

Current

2024
£

2023
£

Trade debtors

24,431

-

Prepayments

274

258

 

24,705

258

 

Snowslippers Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

535,896

354,863

Taxation and social security

82,293

63,403

Other creditors

35,661

35,119

653,850

453,385

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

50,000

50,000

50,000

50,000

A Ordinary of £1 each

1,000

1,000

1,000

1,000

51,000

51,000

51,000

51,000

10

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of 1.00 per each Ordinary shares

160,000

130,000

 

 

11

Related party transactions

 

Snowslippers Limited

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

Transactions with directors

2024

At 1 October 2023
£

Other payments made to company by director
£

At 30 September 2024
£

Mr Danijel Jurkovic

Directors Loan Interest Free

(2,748)

(542)

(3,290)

Mrs Beti Wyn Williams

Interest Free Directors Loan

(3,814)

-

(3,814)

2023

At 1 October 2022
£

Other payments made to company by director
£

At 30 September 2023
£

Mr Danijel Jurkovic

Directors Loan Interest Free

(1,504)

(1,244)

(2,748)

Mrs Beti Wyn Williams

Interest Free Directors Loan

(3,814)

-

(3,814)

 

Snowslippers Limited

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,096

9,096