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

REGISTERED NUMBER: 03091284 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

SNAPE MANAGEMENT SOLUTIONS LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

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

267

356

Investment property

5

858,067

833,040

858,334

833,396

CURRENT ASSETS

Debtors

511,407

408,720

Cash at bank

55,274

74,101

566,681

482,821

CREDITORS

Amounts falling due within one year

(75,600

)

(16,241

)

NET CURRENT ASSETS

491,081

466,580

TOTAL ASSETS LESS CURRENT LIABILITIES

1,349,415

1,299,976

PROVISIONS FOR LIABILITIES

(68,203

)

(63,444

)

NET ASSETS

1,281,212

1,236,532

CAPITAL AND RESERVES

Called up share capital

6

100

100

Undistributable reserves

7

526,887

506,615

Retained earnings

754,225

729,817

SHAREHOLDERS' FUNDS

1,281,212

1,236,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2017 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 14 September 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

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 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

and 31 December 2017

1,500

DEPRECIATION

At 1 January 2017

1,144

Charge for year

89

At 31 December 2017

1,233

NET BOOK VALUE

At 31 December 2017

267

At 31 December 2016

356

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2017

833,040

Revaluations

25,027

At 31 December 2017

858,067

NET BOOK VALUE

At 31 December 2017

858,067

At 31 December 2016

833,040

Fair value at 31 December 2017 is represented by:

£

Valuation in 2000

137,058

Valuation in 2008

115,625

Valuation in 2014

317,415

Valuation in 2017

25,027

Cost

262,942

858,067

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

£

£

100

Ordinary

£1

100

100

7.

RESERVES

Undistributable

reserves

£

At 1 January 2017

506,615

Transfer to undistributable reserve

20,272

At 31 December 2017

526,887

8.	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 £7,873 (2016: £6,198).

Amount due from the related party

3,198

125

Cotswold Scaffolding Ltd

Related by reason of certain common directors and shareholders

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

Amount due from the related party

90

6,000

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

343,902

395,031

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

287

645

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

-

127

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

-

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

673

2,951

Centaur Homes Ltd

Related by reason of certain common directors

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

Amount due from related party

151,619

-

19 Pitville Lawn Management 2003 Limited

Related by reason of certain common directors

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

Amount due from related party

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

331

-

24 Lansdown Place Rtm Company Limited

Related by reason of certain common directors

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

Amount due from related party

754

-

Willow Construction (Midlands) Ltd

Related by reason of certain common directors

The company has received a loan from Willow Construction (Midlands) Ltd for working capital, which is interest free and repayable on demand.

Amount due to related party

50,000

-

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 2017

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

14 September 2018