Company Registration No. 07807095 (England and Wales)
SNR Inc Ltd
Unaudited accounts
for the year ended 31 October 2021
SNR Inc Ltd
Unaudited accounts
Contents
SNR Inc Ltd
Company Information
for the year ended 31 October 2021
Company Number
07807095 (England and Wales)
Registered Office
310D, EW Sterling House
Langston Road
Loughton
IG10 3TS
United Kingdom
Accountants
Capital Talks LLP
Accountants & Tax consultants
310D - EW Sterling House
Langston Road
Loughton
IG10 3TS
SNR Inc Ltd
Statement of financial position
as at
31 October 2021
Tangible assets
68,270
33,356
Debtors
1,010,666
488,197
Cash at bank and in hand
299,502
500,483
Creditors: amounts falling due within one year
(502,712)
(386,629)
Net current assets
807,456
613,497
Total assets less current liabilities
875,726
646,853
Creditors: amounts falling due after more than one year
(450,355)
(401,096)
Net assets
425,371
245,757
Called up share capital
10
10
Profit and loss account
425,361
245,747
Shareholders' funds
425,371
245,757
For the year ending 31 October 2021 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 1 July 2022 and were signed on its behalf by
Farrukh Rizwani
Director
Company Registration No. 07807095
SNR Inc Ltd
Notes to the Accounts
for the year ended 31 October 2021
SNR Inc Ltd is a private company, limited by shares, registered in England and Wales, registration number 07807095. The registered office is 310D, EW Sterling House, Langston Road, Loughton, IG10 3TS, United Kingdom.
2
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 year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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
25% on cost.
Computer equipment
25% on cost.
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.
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
SNR Inc Ltd
Notes to the Accounts
for the year ended 31 October 2021
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2020
49,832
-
49,832
Additions
44,645
2,944
47,589
At 31 October 2021
94,477
2,944
97,421
At 1 November 2020
16,476
-
16,476
Charge for the year
12,270
405
12,675
At 31 October 2021
28,746
405
29,151
At 31 October 2021
65,731
2,539
68,270
At 31 October 2020
33,356
-
33,356
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
31,830
-
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
903,763
463,170
Accrued income and prepayments
10,757
2,305
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
60,000
60,000
Obligations under finance leases and hire purchase contracts
5,542
-
Trade creditors
229,990
211,305
Taxes and social security
57,184
45,242
Other creditors
28,573
22,416
Loans from directors
1,159
13,803
SNR Inc Ltd
Notes to the Accounts
for the year ended 31 October 2021
7
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
428,105
401,096
Obligations under finance leases and hire purchase contracts
22,250
-
8
Share capital
2021
2020
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
At 31 October 2021 the company owed £1,160 to F Rizwani as a result of loans made to the company. The loans are unsecured and interest free.
The director, F Rizwani, controls the company as a result of controlling directly 100% of the issued shares capital.
10
Average number of employees
During the year the average number of employees was 8 (2020: 7).