Snappy Snaps Franchises Limited - Limited company accounts 16.3
Snappy Snaps Franchises Limited - Limited company accounts 16.3
| REGISTERED NUMBER: |
| SNAPPY SNAPS FRANCHISES LIMITED |
| DIRECTORS' REPORT AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 OCTOBER 2015 TO 1 OCTOBER 2016 |
| SNAPPY SNAPS FRANCHISES LIMITED (REGISTERED NUMBER: 02632020) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 OCTOBER 2015 TO 1 OCTOBER 2016 |
| Page |
| Company Information | 1 |
| Directors' Report | 2 |
| Statement of Comprehensive Income | 3 |
| Balance Sheet | 4 |
| Statement of Changes in Equity | 6 |
| Notes to the Financial Statements | 7 |
| SNAPPY SNAPS FRANCHISES LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 OCTOBER 2015 TO 1 OCTOBER 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SNAPPY SNAPS FRANCHISES LIMITED (REGISTERED NUMBER: 02632020) |
| DIRECTORS' REPORT |
| FOR THE PERIOD 1 OCTOBER 2015 TO 1 OCTOBER 2016 |
| The directors present their report with the financial statements of the company for the period 1 October 2015 to 1 October 2016. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the period under review was that of the franchising of retail outlets specialising |
| in photographic processing and imaging. There were no significant changes in the year. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 October 2015 to the date of this |
| report. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
| companies. |
| ON BEHALF OF THE BOARD: |
| SNAPPY SNAPS FRANCHISES LIMITED (REGISTERED NUMBER: 02632020) |
| STATEMENT OF COMPREHENSIVE INCOME |
| FOR THE PERIOD 1 OCTOBER 2015 TO 1 OCTOBER 2016 |
| Period |
| 1.10.15 |
| to | Year Ended |
| 1.10.16 | 30.9.15 |
| Notes | £'000 | £'000 |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING PROFIT | 2 |
| Interest receivable and similar income |
| 1,628 | 1,335 |
| Interest payable and similar charges |
| PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION |
| Tax on profit on ordinary activities | 3 |
| PROFIT FOR THE FINANCIAL PERIOD |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
| SNAPPY SNAPS FRANCHISES LIMITED (REGISTERED NUMBER: 02632020) |
| BALANCE SHEET |
| 1 OCTOBER 2016 |
| 2016 | 2015 |
| Notes | £'000 | £'000 | £'000 | £'000 |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| 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. |
| SNAPPY SNAPS FRANCHISES LIMITED (REGISTERED NUMBER: 02632020) |
| BALANCE SHEET - continued |
| 1 OCTOBER 2016 |
| The financial statements were approved by the Board of Directors on |
| SNAPPY SNAPS FRANCHISES LIMITED (REGISTERED NUMBER: 02632020) |
| STATEMENT OF CHANGES IN EQUITY |
| FOR THE PERIOD 1 OCTOBER 2015 TO 1 OCTOBER 2016 |
| Retained | Total |
| earnings | equity |
| £'000 | £'000 |
| Balance at 1 October 2014 |
| Changes in equity |
| Total comprehensive income |
| Balance at 30 September 2015 |
| Changes in equity |
| Total comprehensive income |
| Balance at 1 October 2016 |
| SNAPPY SNAPS FRANCHISES LIMITED (REGISTERED NUMBER: 02632020) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 OCTOBER 2015 TO 1 OCTOBER 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Financial reporting standard 102 - reduced disclosure exemptions |
| The company has taken advantage of the following disclosure exemption in preparing these financial statements, |
| as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
| • | the requirements of Section 7 Statement of Cash Flows. |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of goods and services supplied during the 12 |
| months, exclusive of Value Added Tax and trade discounts. |
| Intangible fixed assets and amortisation |
| Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the |
| identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated economic life. |
| Tangible fixed assets and depreciation |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off |
| the cost of fixed assets, less their estimated residual value, over their expected useful economic lives on the |
| following bases: |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| SNAPPY SNAPS FRANCHISES LIMITED (REGISTERED NUMBER: 02632020) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 OCTOBER 2015 TO 1 OCTOBER 2016 |
| 2. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| Period |
| 1.10.15 |
| to | Year Ended |
| 1.10.16 | 30.9.15 |
| £'000 | £'000 |
| Hire of plant and machinery |
| Other operating leases |
| Depreciation - owned assets |
| Profit on disposal of fixed assets | ( |
) |
| Goodwill amortisation |
| Patents and licences amortisation |
| Pension costs | 4 | 4 |
| Period |
| 1.10.15 |
| to | Year Ended |
| 1.10.16 | 30.9.15 |
| £ | £ |
| Directors' remuneration |
| 3. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit on ordinary activities for the period was as follows: |
| Period |
| 1.10.15 |
| to | Year Ended |
| 1.10.16 | 30.9.15 |
| £'000 | £'000 |
| Current tax: |
| UK corporation tax |
| Adjustment in respect or prior |
| periods | - | 7 |
| Total current tax |
| Deferred tax: |
| Deferred tax |
| Adjustment in respect of prior year | 6 | - |
| Total deferred tax |
| Tax on profit on ordinary activities |
| UK corporation tax was charged at 20%) in 2015. |
| SNAPPY SNAPS FRANCHISES LIMITED (REGISTERED NUMBER: 02632020) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 OCTOBER 2015 TO 1 OCTOBER 2016 |
| 4. | INTANGIBLE FIXED ASSETS |
| Patents |
| and |
| Goodwill | licences | Totals |
| £'000 | £'000 | £'000 |
| COST |
| At 1 October 2015 |
| Disposals | ( |
) | ( |
) |
| At 1 October 2016 |
| AMORTISATION |
| At 1 October 2015 |
| Amortisation for period |
| Eliminated on disposal | ( |
) | ( |
) |
| At 1 October 2016 |
| NET BOOK VALUE |
| At 1 October 2016 |
| At 30 September 2015 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £'000 | £'000 | £'000 | £'000 |
| COST |
| At 1 October 2015 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 1 October 2016 |
| DEPRECIATION |
| At 1 October 2015 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 1 October 2016 |
| NET BOOK VALUE |
| At 1 October 2016 |
| At 30 September 2015 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £'000 | £'000 |
| Trade debtors |
| Other debtors |
| Amounts owed by group undertakings | 4,870 | 1,607 |
| SNAPPY SNAPS FRANCHISES LIMITED (REGISTERED NUMBER: 02632020) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 OCTOBER 2015 TO 1 OCTOBER 2016 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £'000 | £'000 |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Other creditors |
| 8. | PROVISIONS FOR LIABILITIES |
| 2016 | 2015 |
| £'000 | £'000 |
| Deferred tax | 32 | 13 |
| Deferred |
| tax |
| £'000 |
| Balance at 1 October 2015 |
| Provided during period |
| Balance at 1 October 2016 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | 1 | 2 | 2 |
| 10. | RESERVES |
| Retained |
| earnings |
| £'000 |
| At 1 October 2015 |
| Profit for the period |
| At 1 October 2016 |