Snape Management Solutions Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03091284 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

SNAPE MANAGEMENT SOLUTIONS LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

10

DIRECTORS:

Mrs S M Snape

A B Snape

SECRETARY:

Mrs S M Snape

REGISTERED OFFICE:

Willow End

Stoke Orchard Road

Bishops Cleeve

Cheltenham

Gloucestershire

GL52 7DG

REGISTERED NUMBER:

03091284 (England and Wales)

ACCOUNTANTS:

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

FIXED ASSETS

Tangible assets

4

200

267

Investments

5

17

-

Investment property

6

890,267

858,067

890,484

858,334

CURRENT ASSETS

Debtors

544,783

511,407

Cash at bank

17,118

55,274

561,901

566,681

CREDITORS

Amounts falling due within one year

(26,015

)

(75,600

)

NET CURRENT ASSETS

535,886

491,081

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,426,370

1,349,415

PROVISIONS FOR LIABILITIES

(74,324

)

(68,203

)

NET ASSETS

1,352,046

1,281,212

CAPITAL AND RESERVES

Called up share capital

7

100

Undistributable reserves

8

552,969

526,887

Retained earnings

798,977

754,225

SHAREHOLDERS' FUNDS

1,352,046

1,281,212

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 Statement of Financial Position for the year ended 31 December 2018 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 on 16 September 2019 and were signed on its behalf
by:

Mrs S M Snape - Director

1.	STATUTORY INFORMATION

Snape Management Solutions 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 represents rents received and service charges receivable from tenants.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment property

In accordance with the Financial Reporting Standard ("FRS102"), investment properties are revalued annually

and the aggregate surplus or deficit is transferred to a non-distributable reserve, except where a deficit on an

individual investment property is expected to be permanent in which case it is charged (or credited, where a

deficit is reversed) to the profit and loss account of the period. No depreciation is provided in respect of

leasehold investment properties where the unexpired term is more than 20 years.

The Companies Act 2006 ("the Act") requires all properties to be depreciated. However this requirement

conflicts with the generally accepted accounting principle set out in FRS102. The directors consider that,

because these properties are not held for consumption, but for their investment potential, to depreciate them

would not give a true and fair view and that it is necessary to follow the principles in FRS102 in order to give a

true and fair view.

If this departure from the Act had not been made, the profit for the financial year would have been reduced by

depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is

only one of many factors reflected in the annual valuation and the amount which might otherwise have been

shown cannot be separately identified or quantified,

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 statement of financial position date.

Deferred tax

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

statement of financial position date and on the revaluation of investment properties.

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 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

and 31 December 2018

1,500

DEPRECIATION

At 1 January 2018

1,233

Charge for year

67

At 31 December 2018

1,300

NET BOOK VALUE

At 31 December 2018

200

At 31 December 2017

267

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

Additions

17

At 31 December 2018

17

NET BOOK VALUE

At 31 December 2018

17

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

858,067

Revaluations

32,200

At 31 December 2018

890,267

NET BOOK VALUE

At 31 December 2018

890,267

At 31 December 2017

858,067

Fair value at 31 December 2018 is represented by:

£

Valuation in 2000

137,058

Valuation in 2008

115,625

Valuation in 2014

317,415

Valuation in 2017

25,027

Valuation in 2018

32,200

Cost

262,942

890,267

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

100

Ordinary

£1

100

8.

RESERVES

Undistributable

reserves

£

At 1 January 2018

526,887

Transfer to undistributable reserve

26,082

At 31 December 2018

552,969

9.	RELATED PARTY DISCLOSURES

Snape Construction Limited

Related by reason of certain common directors and shareholders

The company buys goods and services from Snape Construction Limited on
an arm's length basis. The value of such purchases in the year was
£10,673 (2017: £7,873).

Amount due from the related party

7,798

3,198

Cotswold Scaffolding Ltd

Related by reason of certain common directors and shareholders

The company provides working capital to Cotswold Scaffolding Ltd, which is
interest free, unsecured and repayable on demand.

Amount due from the related party

231

90

ACMB Investments Ltd

Related by reason of certain common directors and shareholders

The company has made a loan to ACMB Investments Ltd for working
capital, which is interest free and repayable on demand.

Amount due from the related party

387,090

343,902

Mrs S M Snape

Director and major shareholder

During the year the company carried out maintenance work on Mrs Snape's
properties on an arms' length basis.

Amount due from the related party

967

287

M E Snape

Shareholder

During the year the company carried out maintenance work on M E Snape's
properties on an arms' length basis.

Amount due from the related party

-

1,992

B J Snape

Shareholder

During the year the company carried out maintenance work on B J Snape
properties on an arms' length basis.

Amount due from related party

270

-

Mrs C Calder

Shareholder

During the year the company carried out maintenance work on Mrs Calder's
properties on an arm's length basis.

Amount due from the related party

-

74

RELATED PARTY DISCLOSURES - continued

5 Lansdown Place Management Limited

Related by reason of certain common directors

During the year the company carried out maintenance work on 5 Lansdown
Place Management Limited's properties on an arms' length basis.

Amount due from the related party

70

673

Centaur Homes Ltd

Related by reason of certain common directors

The company has made a loan to Centaur Homes Ltd last year for working
capital, which is interest free. The loan was repaid in full during the year. In
addition, the company provides working capital to Centaur Homes Ltd, which
is interest free, unsecured and repayable on demand.

Amount due from related party

3,335

151,619

19 Pittville Lawn Management 2003 Limited

Related by reason of certain common directors

During the year the company carried out maintenance work on 19 Pittville
Lawn Management 2003 Limited's properties on an arms' length basis.

Amount due from related party

70

162

Festival House Management (RTM) Co Ltd

Related by reason of certain common directors

During the year the company carried out maintenance work on Festival
House Management (RTM) Co Ltd's properties on an arms' length basis.

Amount due from related party

479

331

24 Lansdown Place Rtm Company Limited

Related by reason of certain common directors

During the year the company carried out maintenance work on 24 Lansdown
Place Rtm Company Limited's properties on an arms' length basis.

Amount due from related party

6,263

754

Willow Construction (Midlands) Ltd

Related by reason of certain common directors

The company received a loan from Willow Construction (Midlands) Ltd for
working capital, which is interest free. The loan was repaid in full during the
year.

Amount due to related party

-

50,000

RELATED PARTY DISCLOSURES - continued

57 St Georges Road Limited

Related by reason of certain common directors

During the year the company carried out maintenance work on 57 St
Georges Road Limited's properties on an arms' length basis.

Amount due from related party

1,000

-

Montpellier Land & Development Consultancy Limited

Related by reason of certain common directors

The company has loaned Montpellier Land & Development Consultancy
Limited for working capital, which is interest free, unsecured and repayable
on demand.

Amount due from related party

25,000

-

Centaur Homes (East) Limited

Related by reason of certain common directors

The company has loaned Centaur Homes (East) Limited for working capital,
which is interest free.

Amount due from related party

99,983

-

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Snape Management Solutions Limited for the year ended 31 December 2018 which comprise

the Income Statement, Abridged Statement of Financial Position and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Snape Management Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Snape Management Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Snape Management Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Snape Management Solutions Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Snape Management Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Snape Management Solutions Limited. You consider that Snape Management Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Snape Management Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

16 September 2019

Snape Management Solutions Limited - Accounts to registrar (filleted) - small 18.2

Snape Management Solutions Limited - Accounts to registrar (filleted) - small 18.2