Snow White Launderettes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01555944 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

SNOW WHITE LAUNDERETTES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R Hopkins

SECRETARY:

Mr R Hopkins

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

01555944 (England and Wales)

ACCOUNTANTS:

Raffingers LLP

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Investment property

4

1,046,758

950,000

CURRENT ASSETS

Debtors

36,825

96,085

Cash at bank

11,136

6,289

47,961

102,374

CREDITORS

Amounts falling due within one year

38,631

18,042

NET CURRENT ASSETS

9,330

84,332

TOTAL ASSETS LESS CURRENT LIABILITIES

1,056,088

1,034,332

PROVISIONS FOR LIABILITIES

167,161

167,161

NET ASSETS

888,927

867,171

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

762,786

762,786

Capital redemption reserve

2,681

2,681

Retained earnings

123,360

101,604

SHAREHOLDERS' FUNDS

888,927

867,171

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 2022 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 director and authorised for issue on 19 December 2022 and were signed by:

Mr R Hopkins - Director

1.	STATUTORY INFORMATION

Snow White Launderettes 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover comprises rental income, excluding Value Added Tax, which is recognised in the period which it is earned. Amounts invoiced in excess of the amounts earned during the period are recognised as deferred income in creditors.

Investment property

Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

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.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2021

950,000

Additions

96,758

At 31 March 2022

1,046,758

NET BOOK VALUE

At 31 March 2022

1,046,758

At 31 March 2021

950,000

In the opinion of the director, investment property is stated at fair value at the balance sheet date.

5.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption as per paragraph 33.1A of FRS 102 Related Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

At the balance sheet date, the company owed £5,997 (2021: £3,269) to Mr R Hopkins, the director.

At the balance sheet date, the company was owed £32,500 (2021: £32,500) by R.H. Property Developments Limited, a company connected by virtue of common control.