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

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

SNOW WHITE LAUNDERETTES LIMITED - Company Information

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REGISTERED NUMBER: 01555944 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

SNOW WHITE LAUNDERETTES LIMITED
SNOW WHITE LAUNDERETTES LIMITED (REGISTERED NUMBER: 01555944)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SNOW WHITE LAUNDERETTES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2021







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
Page 1
SNOW WHITE LAUNDERETTES LIMITED (REGISTERED NUMBER: 01555944)

ABRIDGED BALANCE SHEET
31 March 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 950,000
Investment property 5 950,000 -
950,000 950,000

CURRENT ASSETS
Debtors 96,085 63,585
Cash at bank 6,289 17,601
102,374 81,186
CREDITORS
Amounts falling due within one year 18,043 18,654
NET CURRENT ASSETS 84,331 62,532
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,034,331
1,012,532

PROVISIONS FOR LIABILITIES 167,161 167,161
NET ASSETS 867,170 845,371

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 101,603 79,804
SHAREHOLDERS' FUNDS 867,170 845,371

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 notes form part of these financial statements

Page 2 continued...
SNOW WHITE LAUNDERETTES LIMITED (REGISTERED NUMBER: 01555944)

ABRIDGED BALANCE SHEET - continued
31 March 2021


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 Statement of Comprehensive Income and an abridged Balance Sheet for the year ended 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 December 2021 and were signed by:





Mr R Hopkins - Director


The notes form part of these financial statements

Page 3
SNOW WHITE LAUNDERETTES LIMITED (REGISTERED NUMBER: 01555944)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

During the year, the freehold property was reclassified as an investment property on the basis that it satisfied the definition and conditions of an investment property.

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.

Page 4 continued...
SNOW WHITE LAUNDERETTES LIMITED (REGISTERED NUMBER: 01555944)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2021

2. ACCOUNTING POLICIES - continued

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 (2020 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 April 2020 950,000
Reclassification/transfer (950,000 )
At 31 March 2021 -
NET BOOK VALUE
At 31 March 2021 -
At 31 March 2020 950,000

Cost or valuation at 31 March 2021 is represented by:

Totals
£   
Valuation in 2006 102,447
Valuation in 2016 587,500
Valuation in 2017 290,000
Valuation in 2020 (50,000 )
Valuation in 2021 (950,000 )
Cost 20,053

If freehold land and buildings had not been revalued it would have been included at the following historical cost:

2021 2020
£    £   
Cost 20,053 20,053

Value of land in freehold land and buildings 250,000 250,000

Page 5 continued...
SNOW WHITE LAUNDERETTES LIMITED (REGISTERED NUMBER: 01555944)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2021

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Reclassification/transfer 950,000
At 31 March 2021 950,000
NET BOOK VALUE
At 31 March 2021 950,000

6. 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 £3,269 (2020: £1,719) to Mr R Hopkins, the director.

At the balance sheet date, the company was owed £32,500 (2020: £nil) by R.H. Property Developments Limited. Company is connected by virtue of common control.

Page 6