Sneller Group Holdings Ltd 10494858 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is property consultancy and advice. Digita Accounts Production Advanced 6.30.9574.0 true false true 10494858 2022-07-01 2023-06-30 10494858 2023-06-30 10494858 bus:OrdinaryShareClass1 2023-06-30 10494858 bus:OrdinaryShareClass2 2023-06-30 10494858 core:RetainedEarningsAccumulatedLosses 2023-06-30 10494858 core:ShareCapital 2023-06-30 10494858 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10494858 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 10494858 bus:SmallEntities 2022-07-01 2023-06-30 10494858 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 10494858 bus:FullAccounts 2022-07-01 2023-06-30 10494858 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 10494858 bus:RegisteredOffice 2022-07-01 2023-06-30 10494858 bus:CompanySecretaryDirector2 2022-07-01 2023-06-30 10494858 bus:Director1 2022-07-01 2023-06-30 10494858 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 10494858 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 10494858 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10494858 core:OtherRelatedParties 2022-07-01 2023-06-30 10494858 core:Subsidiary1 2022-07-01 2023-06-30 10494858 core:Subsidiary1 1 2022-07-01 2023-06-30 10494858 core:Subsidiary1 countries:England 2022-07-01 2023-06-30 10494858 countries:EnglandWales 2022-07-01 2023-06-30 10494858 core:CostValuation 2022-06-30 10494858 2021-07-01 2022-06-30 10494858 2022-06-30 10494858 bus:OrdinaryShareClass1 2022-06-30 10494858 bus:OrdinaryShareClass2 2022-06-30 10494858 core:RetainedEarningsAccumulatedLosses 2022-06-30 10494858 core:ShareCapital 2022-06-30 10494858 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 10494858 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 10494858 core:Subsidiary1 1 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10494858

Sneller Group Holdings Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Sneller Group Holdings Ltd

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Sneller Group Holdings Ltd

Company Information

Directors

K Pankhania

C Pankhania

Company secretary

C Pankhania

Registered office

Bridge House
74 Broad Street
Teddington
Middlesex
TW11 8QT

Accountants

Harmer Slater Limited
79a High Street
Teddington
Middlesex
TW11 8HG

 

Sneller Group Holdings Ltd

Directors' Report for the Year Ended 30 June 2023

The directors present their annual report on the affairs of Sneller Group Holdings Limited, together with the unaudited financial statements for the year ended 30 June 2023.

Principal activity

The principal activity of the company is property consultancy and advice.

Directors of the company

The directors who held office during the year and up to date of authorisation of this report were as follows:

K Pankhania

C Pankhania

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Small companies provision statement

The directors have taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors’ report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.

Approved and authorised by the Board on 5 March 2024 and signed on its behalf by:
 

.........................................
K Pankhania
Director

 

Sneller Group Holdings Ltd

(Registration number: 10494858)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2,410,832

2,410,832

Current assets

 

Cash at bank

 

5,425

5,811

Payables: Amounts falling due within one year

5

(2,009,079)

(1,737,201)

Net current liabilities

 

(2,003,654)

(1,731,390)

Total assets less current liabilities

 

407,178

679,442

Payables: Amounts falling due after more than one year

5

-

(8,987)

Net assets

 

407,178

670,455

Equity

 

Called up share capital

6

100

100

Retained earnings

6

407,078

670,355

Shareholders' funds

 

407,178

670,455

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

The directors of the company have elected not to include a copy of the Income Statement within the financial statements.

The financial statements of Sneller Group Holdings Ltd were approved and authorised for issue by the Board on 5 March 2024 and signed on its behalf by:
 

.........................................

K Pankhania
Director

 

Sneller Group Holdings Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023

1

General information

Sneller Group Holdings Ltd (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis. During a review of the company's forecasts and available resources, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing financial statements.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and in accordance with the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pounds sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£). The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

 

Sneller Group Holdings Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise of bank balances.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Sneller Group Holdings Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023 (continued)

4

Investments

2023
£

2022
£

Investments in subsidiaries

2,410,832

2,410,832

Subsidiaries

£

Cost

At 1 July 2022 and 30 June 2023

2,410,832

Carrying amount

At 30 June 2023

2,410,832

At 30 June 2022

2,410,832

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Snellers Limited

England

200 Ordinary shares of £1 each

100%

100%

Snellers Limited

The principal activity of Snellers Limited is professional property consultancy.

 

Sneller Group Holdings Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023 (continued)

5

Payables

2023
£

2022
£

Due within one year

Loans and borrowings

10,000

10,200

Amounts due to related parties

1,961,979

1,609,829

Other creditors

36,500

116,572

Accruals

600

600

2,009,079

1,737,201

Due after one year

Loans and borrowings

-

8,987

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

50

50

50

50

Ordinary B shares of £1 each

50

50

50

50

 

100

100

100

100

Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

7

Dividends

   

2023

 

2022

   

£

 

£

Final dividend of £2,614.78 (2022 - £881.95) per ordinary share

 

261,478

 

88,195

         
 

Sneller Group Holdings Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2023 (continued)

8

Related party transactions

Other creditors includes loans to the company from directors as follows: £9,500 due to K Pankhania (2022: £55,786) and £27,500 due to C Pankhania (2022: £60,786). Both of these loans are interest-free and repayable on demand.