S N Design Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02920465 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

S N Design Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs J A Gifford

S Nesbitt

SECRETARY:

S Nesbitt

REGISTERED OFFICE:

111 High St

Brightlingsea

Colchester

CO7 0EG

REGISTERED NUMBER:

02920465 (England and Wales)

ACCOUNTANTS:

Derek Young & Co Accountants LLP

Chartered Accountants

Estate House

Evesham Street

Redditch

Worcestershire

B97 4HP

FIXED ASSETS

Tangible assets

4

778,686

799,767

CURRENT ASSETS

Cash at bank

18,883

49,894

CREDITORS

Amounts falling due within one year

121,164

155,343

NET CURRENT LIABILITIES

(102,281

)

(105,449

)

TOTAL ASSETS LESS CURRENT LIABILITIES

676,405

694,318

CAPITAL AND RESERVES

Called up share capital

5

4

4

Revaluation reserve

6

487,813

487,813

Retained earnings

188,588

206,501

SHAREHOLDERS' FUNDS

676,405

694,318

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 November 2023 and were signed on its behalf by:

S Nesbitt - Director

1.	STATUTORY INFORMATION

S N Design Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Equipment

-

15% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2022

and 31 March 2023

1,070,973

DEPRECIATION

At 1 April 2022

271,206

Charge for year

21,081

At 31 March 2023

292,287

NET BOOK VALUE

At 31 March 2023

778,686

At 31 March 2022

799,767

Cost or valuation at 31 March 2023 is represented by:

Totals

£

Valuation in 2003

84,121

Valuation in 2018

403,692

Cost

583,160

1,070,973

5.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2023

2022

value:

£

£

4

Share capital 1

£1

4

4

6.

RESERVES

Revaluation

reserve

£

At 1 April 2022

and 31 March 2023

487,813

7.	ULTIMATE CONTROLLING PARTY