Company Registration No. 07626617 (England and Wales)
Snag That Ltd
Unaudited Financial Statements
for the period from 1 March 2022 to 31 March 2023
Snag That Ltd
Unaudited Financial Statements
Contents
Snag That Ltd
Company Information
for the period from 1 March 2022 to 31 March 2023
Director
Justin Leigh Dymond
Company Number
07626617 (England and Wales)
Registered Office
Sequoia
Old Pinn Lane
Exeter
Devon
EX1 3RF
England
Snag That Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
12,601
17,533
Cash at bank and in hand
77,711
205,804
Creditors: amounts falling due within one year
(16,661)
(41,803)
Net current assets
152,559
165,556
Total assets less current liabilities
165,160
183,089
Creditors: amounts falling due after more than one year
(7,182)
(10,403)
Net assets
157,978
172,686
Called up share capital
250
250
Profit and loss account
157,728
172,436
Shareholders' funds
157,978
172,686
For the period ending 31 March 2023 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2023 and were signed on its behalf by
Justin Leigh Dymond
Director
Company Registration No. 07626617
Snag That Ltd
Notes to the Accounts
for the period from 1 March 2022 to 31 March 2023
Snag That Ltd is a private company, limited by shares, registered in England and Wales, registration number 07626617. The registered office is Sequoia, Old Pinn Lane , Exeter, Devon, EX1 3RF, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing balance and straight line over 3 years
Motor vehicles
straight line over 5 years
Work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the work in progress to their present location and condition.
Long-term work in progress comprises properties being developed for ultimate sale and are included at the lower of cost and net realisable value. Cost includes all direct costs plus any directly attributable
administrative and finance costs.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Snag That Ltd
Notes to the Accounts
for the period from 1 March 2022 to 31 March 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 March 2022
23,516
17,218
40,734
At 31 March 2023
23,516
17,218
40,734
At 1 March 2022
19,757
3,444
23,201
Charge for the period
1,489
3,443
4,932
At 31 March 2023
21,246
6,887
28,133
At 31 March 2023
2,270
10,331
12,601
At 28 February 2022
3,759
13,774
17,533
Amounts falling due within one year
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Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
3,278
2,773
Taxes and social security
231
4,812
Loans from directors
12,358
31,317
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Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
7,182
10,403
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Average number of employees
During the period the average number of employees was 2 (2022: 2).