REGISTERED NUMBER: 03150418 (England and Wales)

SNAP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M J Todd

C E Todd

M Bogatyreva

SECRETARY:

M J Todd

REGISTERED OFFICE:

Randall Business Centre

Randall Park Way

Retford

Nottinghamshire

DN22 7WF

REGISTERED NUMBER:

03150418 (England and Wales)

BANKERS:

Barclays Bank UK Plc

Leicester

LE87 2BB

FIXED ASSETS

Intangible assets

5

802

1,069

Tangible assets

6

1,353

1,985

2,155

3,054

CURRENT ASSETS

Debtors

7

98,613

87,731

Cash at bank and in hand

497,683

478,846

596,296

566,577

CREDITORS

Amounts falling due within one year

8

473,664

457,112

NET CURRENT ASSETS

122,632

109,465

TOTAL ASSETS LESS CURRENT LIABILITIES

124,787

112,519

CREDITORS

Amounts falling due after more than one year

9

-

19,008

NET ASSETS

124,787

93,511

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

74,787

43,511

SHAREHOLDERS' FUNDS

124,787

93,511

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

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

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 15 September 2025 and were signed on its behalf by:

M J Todd - Director

1.	STATUTORY INFORMATION

Snap Ltd 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.

2.	STATEMENT OF COMPLIANCE

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 are presented in UK Sterling (£).

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 ten 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

-

15% on reducing balance and Straight line over 3 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

2,672

AMORTISATION

At 1 January 2024

1,603

Charge for year

267

At 31 December 2024

1,870

NET BOOK VALUE

At 31 December 2024

802

At 31 December 2023

1,069

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

20,931

DEPRECIATION

At 1 January 2024

18,946

Charge for year

632

At 31 December 2024

19,578

NET BOOK VALUE

At 31 December 2024

1,353

At 31 December 2023

1,985

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

37,450

Other debtors

98,613

50,281

98,613

87,731

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

10,037

Trade creditors

145,562

108,244

Amounts owed to group undertakings

181,099

98,308

Taxation and social security

138,930

120,943

Other creditors

8,073

119,580

473,664

457,112

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

-

19,008

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Cutoutme LLC

A company under common control

Sales made to the Company during the year amount to £52,124 (2023: £nil) and purchases from the Company total £646,969 (2023: £604,308), there is an overall balance outstanding from Snap Ltd of £33,264 (2023:£35,880) at the balance sheet date.

Cutoutme GmbH

A company under common control

Sales made to the Company during the year amount to £1,962 (2023: £4,540 and purchases from the Company total £415,985 (2023: £451,734), there is an overall balance outstanding from Snap Ltd of £64,956 (2023: £75,212) at the balance sheet date.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is RCS Limited.

The ultimate controlling party is Mr M J & Mrs C E Todd.