Snape Management Solutions Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03091284 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

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

M E Snape

SECRETARY:

Mrs S M Snape

REGISTERED OFFICE:

The Hyde

Hyde Lane

Prestbury

Cheltenham

Gloucestershire

GL50 4SL

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

112

150

Investments

5

17

Investment property

6

941,467

913,334

941,596

913,501

CURRENT ASSETS

Debtors

551,425

554,612

Cash at bank

53,736

29,469

605,161

584,081

CREDITORS

Amounts falling due within one year

(19,390

)

(20,399

)

NET CURRENT ASSETS

585,771

563,682

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,527,367

1,477,183

PROVISIONS FOR LIABILITIES

(84,058

)

(78,710

)

NET ASSETS

1,443,309

1,398,473

CAPITAL AND RESERVES

Called up share capital

7

100

Undistributable reserves

8

594,441

571,653

Retained earnings

848,768

826,720

SHAREHOLDERS' FUNDS

1,443,309

1,398,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2021 and were signed on its behalf by:

A B 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 Statement of Income and Retained Earnings, 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 3 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

and 31 December 2020

1,500

DEPRECIATION

At 1 January 2020

1,350

Charge for year

38

At 31 December 2020

1,388

NET BOOK VALUE

At 31 December 2020

112

At 31 December 2019

150

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2020

and 31 December 2020

17

NET BOOK VALUE

At 31 December 2020

17

At 31 December 2019

17

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

913,334

Revaluations

28,133

At 31 December 2020

941,467

NET BOOK VALUE

At 31 December 2020

941,467

At 31 December 2019

913,334

Fair value at 31 December 2020 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

Valuation in 2019

23,067

Valuation in 2020

28,133

Cost

262,942

941,467

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

100

Ordinary

£1

100

8.

RESERVES

Undistributable

reserves

£

At 1 January 2020

571,653

Transfer to undistributable reserve

22,788

At 31 December 2020

594,441

9.	RELATED PARTY DISCLOSURES

2020

2019

£

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 £7,376 (2019: £15,189).

Amount due from the related party

1,400

1,390

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

20

738

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, unsecured and repayable on demand.

Amount due from the related party

436,295

445,465

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

1,124

408

M E Snape

Director and 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

350

245

B J Snape

Shareholder

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

Amount due to related party

(4,364

)

-

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

845

-

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

120

154

Centaur Homes Ltd

Related by reason of certain common directors

The company 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

1,859

1,594

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

54

140

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

449

114

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

150

54

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

1,861

1,129

RELATED PARTY DISCLOSURES - continued

Centaur Homes (East) Limited

Related by reason of certain common directors

The company has loaned money to Centaur Homes (East) Limited for
working capital, which is interest free, unsecured and repayable on
demand.

Amount due from related party

99,983

Lansdown Place Driveway Committee Ltd

Related by reason of certain common directors

During the year the company carried out maintenance work on
Lansdown Place Driveway Committee Ltd's properties on an arms'
length basis.

Amount due from related party

180

-

Ashford Road Cheltenham Management Company Limited

Related by reason of certain common directors

During the year the company carried out maintenance work on
Ashford Road Cheltenham Management Company Limited's
properties on an arms' length basis.

Amount due from related party

84

-

Snape Contracting Services Ltd

Related by reason of certain common directors

Snape Contracting Services Ltd carried out maintenance work on
behalf of the company on an arms' length basis.

Amount due to related party

(230

)

-

A B Snape

Director and shareholder

During the year A B Snape met costs on behalf of the company on an
arms' length basis.

Amount due to related party

(150

)

-

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 2020 which comprise the Statement of Income and Retained Earnings, 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

29 September 2021

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

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