Registration number: 08627564

Snugs Custom-Fit Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Snugs Custom-Fit Ltd

(Registration number: 08627564)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	1,376,401	1,281,964
Tangible assets	5	2,164	2,910
		1,378,565	1,284,874
Current assets
Stocks	6	12,449	7,783
Debtors	7	81,640	11,788
Cash at bank and in hand		8,404	3,549
		102,493	23,120
Creditors: Amounts falling due within one year	8	(1,672,810)	(1,483,806)
Net current liabilities		(1,570,317)	(1,460,686)
Total assets less current liabilities		(191,752)	(175,812)
Creditors: Amounts falling due after more than one year	8	(6,526)	(12,231)
Net liabilities		(198,278)	(188,043)
Capital and reserves
Called up share capital		216	216
Share premium reserve		1,894,254	1,894,254
Retained earnings		(2,092,748)	(2,082,513)
Shareholders' deficit		(198,278)	(188,043)

Snugs Custom-Fit Ltd

(Registration number: 08627564)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 December 2025 and signed on its behalf by:
 

Mr P Jobin Director

Snugs Custom-Fit Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

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

The address of its registered office is:
Windwhistle Farm
Treborough
Watchet
TA23 0QW

These financial statements were authorised for issue by the Board on 4 December 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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

Going concern

The company trade is increasing and the directors consider that the company is close to being able to cover its debts from normal trade, However, they also feel they are able to raise the additional finance necessary to enable it to pay its debts as they fall due and on this basis have prepared the accounts on a going concern basis.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue for the sale of goods when all the following conditions are satisfied:
a) the significant risks and rewards of ownership have been transferred to the buyer;
b) the group retains no continuing involvement or control over the goods;
c) the amount of revenue can be reliably measured;
d) it is probable that future economic benefits will flow to the company; and
e) specific criteria have been met for each of the groups activities.

 

Snugs Custom-Fit Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:

Asset class	Depreciation method and rate
Plant and machinery	25% straight line
Fixtures, fittings and office equipment	25% reducing balance
Website	25% straight line

Intangible assets

Intangible assets are shown at historical cost.

Intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Development costs

Development expenditure incurred on an individual project is carried forward as an intangible asset only when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future use of the related product.

Expenditure incurred on pure and applied research is written off as it is incurred.

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:

Asset class	Amortisation method and rate
Licence fee	10% straight line
Domain name	25% straight line
Development costs	Nil

Snugs Custom-Fit Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Snugs Custom-Fit Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 5 (2024 - 4).

4	Intangible assets

	Development costs  £	Licence fee  £	Domain name  £	Total £
Cost or valuation
At 1 April 2024	1,280,216	34,205	4,400	1,318,821
Additions	96,185	-	-	96,185
At 31 March 2025	1,376,401	34,205	4,400	1,415,006
Amortisation
At 1 April 2024	-	32,457	4,400	36,857
Amortisation charge	-	1,748	-	1,748
At 31 March 2025	-	34,205	4,400	38,605
Carrying amount
At 31 March 2025	1,376,401	-	-	1,376,401
At 31 March 2024	1,280,216	1,748	-	1,281,964

Snugs Custom-Fit Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Plant and machinery £	Fixtures, fittings and office equipment £	Website  £	Total £
Cost or valuation
At 1 April 2024	74,063	20,098	35,205	129,366
At 31 March 2025	74,063	20,098	35,205	129,366
Depreciation
At 1 April 2024	73,662	17,589	35,205	126,456
Charge for the year	119	627	-	746
At 31 March 2025	73,781	18,216	35,205	127,202
Carrying amount
At 31 March 2025	282	1,882	-	2,164
At 31 March 2024	401	2,509	-	2,910

6

Stocks

	2025 £	2024 £
Stocks	12,449	7,783

7

Debtors

	2025 £	2024 £
Trade debtors	6,843	8,376
Prepayments	3,589	592
Other debtors	71,208	2,820
	81,640	11,788

Snugs Custom-Fit Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

Due within one year	Note	2025 £	2024 £
Loans and borrowings	9	56,486	34,075
Trade creditors		52,175	58,649
Amounts due to related parties	10	1,417,568	1,256,988
Social security and other taxes		969	2,025
Other creditors		113,155	106,909
Accruals		32,457	25,160
		1,672,810	1,483,806
Due after one year
Loans and borrowings	9	6,526	12,231