Company registration number 12598836 (England and Wales)
SNAPPLIFY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
SNAPPLIFY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
SNAPPLIFY LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Current assets
Debtors
3
28,153
23,429
Cash at bank and in hand
4,080
3,627
32,233
27,056
Creditors: amounts falling due within one year
4
(72,622)
(66,071)
Net current liabilities
(40,389)
(39,015)
Capital and reserves
Called up share capital
5
18,825
18,825
Profit and loss reserves
(59,214)
(57,840)
Total equity
(40,389)
(39,015)

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 July 2025 and are signed on its behalf by:
Wesley Lynch
Director
Company registration number 12598836 (England and Wales)
SNAPPLIFY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

Snapplify Limited is a private company limited by shares incorporated in England and Wales. The registered office is Quadrant House - Floor 6, 4 Thomas More Square, London, E1W 1YW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SNAPPLIFY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

SNAPPLIFY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
4
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
9,328
4,604
Other debtors
18,825
18,825
28,153
23,429
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,479
194
Amounts owed to group undertakings
53,035
52,533
Taxation and social security
1,359
1,359
Other creditors
15,749
11,985
72,622
66,071
SNAPPLIFY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
18,825
18,825
18,825
18,825

The share capital was full unpaid at the year end date.

6
Prior period adjustment
Reconciliation of changes in equity
1 June
31 May
2022
2023
£
£
Adjustments to prior year
Debtors
-
4,604
Bank
1,616
3,627
Creditors due within on year
(46,653)
(66,071)
Total adjustments
(45,037)
(57,840)
Equity as previously reported
18,825
18,825
Equity as adjusted
(26,212)
(39,015)
Analysis of the effect upon equity
Share capital
18,825
18,825
Profit and loss reserves
(45,037)
(57,840)
(26,212)
(39,015)
Reconciliation of changes in profit/(loss) for the previous financial period
2023
£
Adjustments to prior year
Turnover
4,604
Cost of sales
(3,401)
Administrative expenses
(14,006)
Total adjustments
(12,803)
Profit as previously reported
-
Loss as adjusted
(12,803)
SNAPPLIFY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
6
Prior period adjustment
(Continued)
- 6 -
Notes to reconciliation

It has been identified that a number of transactions which had previously been understood to have been recognised in other companies connected companies should have been reflected in Snapplify Limited. This has been adjusted for.

2024-05-312023-06-01falsefalsefalse21 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityAndrea BohmertMichael JordaanShaine David GordonWesley LynchJohannes Keet Van Zyl125988362023-06-012024-05-31125988362024-05-31125988362023-05-3112598836core:CurrentFinancialInstrumentscore:WithinOneYear2024-05-3112598836core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3112598836core:CurrentFinancialInstruments2024-05-3112598836core:CurrentFinancialInstruments2023-05-3112598836core:ShareCapital2024-05-3112598836core:ShareCapital2023-05-3112598836core:RetainedEarningsAccumulatedLosses2024-05-3112598836core:RetainedEarningsAccumulatedLosses2023-05-3112598836core:ShareCapitalOrdinaryShareClass12024-05-3112598836core:ShareCapitalOrdinaryShareClass12023-05-3112598836bus:Director42023-06-012024-05-31125988362022-06-012023-05-3112598836core:WithinOneYear2024-05-3112598836core:WithinOneYear2023-05-3112598836bus:OrdinaryShareClass12023-06-012024-05-3112598836bus:OrdinaryShareClass12024-05-3112598836bus:OrdinaryShareClass12023-05-3112598836bus:PrivateLimitedCompanyLtd2023-06-012024-05-3112598836bus:SmallCompaniesRegimeForAccounts2023-06-012024-05-3112598836bus:FRS1022023-06-012024-05-3112598836bus:AuditExemptWithAccountantsReport2023-06-012024-05-3112598836bus:Director12023-06-012024-05-3112598836bus:Director22023-06-012024-05-3112598836bus:Director32023-06-012024-05-3112598836bus:Director52023-06-012024-05-3112598836bus:FullAccounts2023-06-012024-05-31xbrli:purexbrli:sharesiso4217:GBP