Snape Management Solutions Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03091284 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

SNAPE MANAGEMENT SOLUTIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

7

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

2

475

633

Investment property

3

515,625

516,100

516,258

CURRENT ASSETS

Debtors

399,606

414,487

Cash at bank

54,239

16,074

453,845

430,561

CREDITORS

Amounts falling due within one year

(15,599

)

(25,778

)

NET CURRENT ASSETS

438,246

404,783

TOTAL ASSETS LESS CURRENT
LIABILITIES

954,346

921,041

CAPITAL AND RESERVES

Called up share capital

4

100

Revaluation reserve

252,683

Profit and loss account

701,563

668,258

SHAREHOLDERS' FUNDS

954,346

921,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 6 September 2016 and were signed on
its behalf by:

Mrs S M Snape - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

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.

Plant and machinery etc

-

25% on reducing balance

Investment property

In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015

("FRSSE15"), investment properties are revalued annually and the aggregate surplus or deficit is

transferred to revaluation 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 FRSSE15. 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 FRSSE15 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,

Deferred tax

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

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

1,500

DEPRECIATION

At 1 January 2015

867

Charge for year

158

At 31 December 2015

1,025

NET BOOK VALUE

At 31 December 2015

475

At 31 December 2014

633

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 January 2015

and 31 December 2015

515,625

NET BOOK VALUE

At 31 December 2015

515,625

At 31 December 2014

515,625

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

100

Ordinary

£1

100

5.	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 £6,799 (2014: £6,315).

Amount due from the related party

-

Snape Contracting Services Ltd

Related by reason of certain common directors and shareholders

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

Amount due from the related party

283

-

Cotswold Scaffolding Ltd

Related by reason of certain common directors and shareholders

The company made a loan to Cotswold Scaffolding Ltd in the
previous year for working capital, which was interest free and which
was repaid in full during the year.

Amount due from the related party

-

24,000

Montpellier Land and Development Consultancy Limited

Related by reason of certain common directors and shareholders

The company made a loan to Montpellier Land and Development
Consultancy Limited in the previous year for working capital, which
was interest free and which was repaid in full during the year.

Amount due from the related party

-

45,000

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

385,031

340,000

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

4,535

-

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

225

-

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

115

-

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

545

-

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

1,584

-

6.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mrs S M Snape by virtue of her directorship and ownership of the

majority of the issued equity share capital.

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

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to six) have been prepared.

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 2015

which comprise the Profit and Loss Account, the Balance Sheet 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 at icaew.com/membershandbook.

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 AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company 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

6 September 2016