REGISTERED NUMBER: 02887392 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SNACKRUPTORS LIMITED

PREVIOUSLY KNOWN AS

FAIRWAY (G.B.) LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

O Ajmera

T Ajmera

REGISTERED OFFICE:

17 The Crescent

Salford

Manchester

M5 4PF

REGISTERED NUMBER:

02887392 (England and Wales)

AUDITORS:

Harold Sharp Limited

Statutory Auditors and Chartered Accountants

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

BANKERS:

Royal Bank of Scotland

Drummond House

1 Redheughs Avenue

Edinburgh

EH12 9JN

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

Turnover for the year was £38.8m (2024: £34.4m) and pre-tax profits were £3.9m (2024: £2.2m) for the year. The overall balance sheet improved once again and dividends of £1,233,614 (2024: £637,848) were declared, £262,681 being paid in cash and £970,933 in specie. The results for the year and the financial position at the yearend were considered satisfactory by the directors.

PRINCIPAL ACTIVITIES

The principal activity of the company in the year under review was that of the import and wholesale of confectionery and other food stuffs.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The main financial risks to which the Company is exposed are those of interest rate, liquidity, foreign currency and credit. The Company’s policy is to maintain strong cash balances where possible, to manage currency risk with forward contracts and to trade with major customers with strong credit ratings. The financial risks and uncertainties are believed to be under control.

KEY PERFORMANCE INDICATORS

The company's key performance indicators are considered to be those that communicate the financial performance of the company as a whole, these being turnover and operating and pre-tax profit. The current year KPIs are disclosed within the review of business above.

ON BEHALF OF THE BOARD:

O Ajmera - Director

12 January 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

CHANGE OF NAME

The company passed a special resolution on 20 October 2025 changing its name from Fairway (G.B.) Limited to Snackruptors Limited.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £1,233,614 (2024: £637,848).

DIRECTORS

The directors who have held office during the period from 1 April 2024 to the date of this report are as follows:

I V James - resigned 28 February 2025

Peter Lock (Jersey) Limited - resigned 28 February 2025

A J Goggins - resigned 28 February 2025

O Ajmera - appointed 28 February 2025

T Ajmera - appointed 28 February 2025

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen to set out information in respect of financial risk management and key performance indicators in its strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

O Ajmera - Director

12 January 2026

Opinion

We have audited the financial statements of Snackruptors Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our planning process:

- We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud.

- We obtained an understanding of the legal and regulatory frameworks applicable to the company. We determined that the following were most relevant: FRS 102, Companies Act 2006, health and safety, and employment law.

- We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.

- Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

- Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.

- Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

- Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates.

- Assessing the extent of compliance, or lack of, with the relevant laws and regulations in particular those that are central to the entity's ability to continue in operation.

- Testing key revenue lines, in particular cut-off, for evidence of management bias.

- Performing a physical verification of key assets , including stock.

- Obtaining third-party confirmation of material bank balances.

- Documenting and verifying all significant related party balances and transactions.

- Reviewing documentation such as the company board minutes, correspondence with solicitors, for discussions of irregularities including fraud.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors and management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Thomas Smart (Senior Statutory Auditor)

for and on behalf of Harold Sharp Limited

Statutory Auditors and Chartered Accountants

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

12 January 2026

TURNOVER

3

38,763,112

34,446,985

Cost of sales

(35,842,877

)

(32,451,350

)

GROSS PROFIT

2,920,235

1,995,635

Administrative expenses

1,049,533

304,203

OPERATING PROFIT

3,969,768

2,299,838

Interest receivable and similar income

10,653

3,906

Interest payable and similar expenses

5

(40,120

)

(129,409

)

PROFIT BEFORE TAXATION

6

3,940,301

2,174,335

Tax on profit

7

(980,231

)

(534,864

)

PROFIT FOR THE FINANCIAL YEAR

2,960,070

1,639,471

PROFIT FOR THE YEAR

2,960,070

1,639,471

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,960,070

1,639,471

FIXED ASSETS

Intangible assets

9

26,343

22,239

Tangible assets

10

51,097

1,056,822

77,440

1,079,061

CURRENT ASSETS

Stocks

11

4,169,954

4,083,845

Debtors

12

6,142,466

5,445,548

Cash at bank and in hand

2,526,866

1,046,206

12,839,286

10,575,599

CREDITORS

Amounts falling due within one year

13

(5,111,589

)

(5,571,350

)

NET CURRENT ASSETS

7,727,697

5,004,249

TOTAL ASSETS LESS CURRENT LIABILITIES

7,805,137

6,083,310

PROVISIONS FOR LIABILITIES

14

(12,774

)

(17,403

)

NET ASSETS

7,792,363

6,065,907

CAPITAL AND RESERVES

Called up share capital

15

1,520

1,520

Capital redemption reserve

16

29,480

29,480

Retained earnings

16

7,761,363

6,034,907

SHAREHOLDERS' FUNDS

7,792,363

6,065,907

The financial statements were approved by the Board of Directors and authorised for issue on 12 January 2026 and were signed on its behalf by:

O Ajmera - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

1,520

5,033,284

29,480

5,064,284

Changes in equity

Dividends

-

(637,848

)

-

(637,848

)

Total comprehensive income

-

1,639,471

-

1,639,471

Balance at 31 March 2024

1,520

6,034,907

29,480

6,065,907

Changes in equity

Dividends

-

(1,233,614

)

-

(1,233,614

)

Total comprehensive income

-

2,960,070

-

2,960,070

Balance at 31 March 2025

1,520

7,761,363

29,480

7,792,363

1.	STATUTORY INFORMATION

Snackrupters Limited (previously known as Fairway (GB) Limited) is a private company limited by shares, incorporated in England and Wales. The company's registered number is 02887392 and registered office is 17 The Crescent, Salford, Manchester, M5 4PF.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, and represent the results of the individual entity. The functional and presentation currency is £ sterling.

The company has taken advantage of the following disclosure exemptions 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;

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirement of paragraph 33.7.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the goods are physically delivered to the customers.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

Straight line over 3 to 5 years

Motor vehicles

-

30% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Freehold property

There has been continued levels of investment and development to improve the quality of the company's property therefore no depreciation has been charged in the financial period, as in the opinion of the directors the cost/valuation included in the accounts is a fair representation of their residual value.

At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Stocks consist of crackers, and includes goods in transit. Cost comprises all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition, including landed costs.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade debtors, other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade creditors, other creditors, amounts owed to group undertakings and directors loan accounts that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Derivative financial instruments are recognised at fair value using a valuation technique with any gains or losses being reported in profit or loss. Outstanding derivatives at reporting date are included under the appropriate format heading depending on the nature of the derivative.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Property, plant and equipment obtained under hire purchase contracts or finance leases are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges are included in creditors.

Rentals paid under operating leases are charged to the profit and loss account 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.

Going concern

Based on the current trading and future expectations, the directors are confident the company will continue to trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

33,143,147

28,584,263

Europe

5,619,965

5,862,722

38,763,112

34,446,985

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,589,859

2,144,855

Social security costs

160,805

149,804

Other pension costs

46,718

42,988

1,797,382

2,337,647

The average number of employees during the year was as follows:

2025

2024

Directors

3

3

Administration

14

14

17

17

2025

2024

£

£

Directors' remuneration

957,603

1,466,488

Directors' pension contributions to money purchase schemes

11,433

10,493

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

1

1

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

498,300

966,384

Pension contributions to money purchase schemes

11,433

-

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

18,730

15,591

Corporation tax interest

3,757

1,399

Other interest

17,633

112,419

40,120

129,409

6.	PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

788

900

Depreciation - owned assets

38,708

30,839

Profit on disposal of fixed assets

(4,487

)

(14,359

)

Computer software amortisation

6,678

1,029

Auditors' remuneration

16,821

15,670

Foreign exchange differences

(1,536,132

)

(709,919

)

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

984,860

535,225

Overprovision - prior year

-

(3,384

)

Total current tax

984,860

531,841

Deferred tax

(4,629

)

3,023

Tax on profit

980,231

534,864

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

3,940,301

2,174,335

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

985,075

543,584

Effects of:

Expenses not deductible for tax purposes

1,520

224

Capital allowances in excess of depreciation

(613

)

(4,993

)

Adjustments to tax charge in respect of previous periods

-

(3,384

)

Deferred tax movement

(4,629

)

3,023

Profit on disposal of assets

(1,122

)

(3,590

)

Total tax charge

980,231

534,864

8.

DIVIDENDS

Interim dividends of £1,233,614 (2024: £637,818) were paid during the year to the company's parent company, who owns all of the company's share capital.

9.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 April 2024

23,268

Additions

10,782

At 31 March 2025

34,050

AMORTISATION

At 1 April 2024

1,029

Amortisation for year

6,678

At 31 March 2025

7,707

NET BOOK VALUE

At 31 March 2025

26,343

At 31 March 2024

22,239

10.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

970,933

229,719

114,888

1,315,540

Additions

-

1,825

49,990

51,815

Disposals

(970,933

)

-

(91,480

)

(1,062,413

)

At 31 March 2025

-

231,544

73,398

304,942

DEPRECIATION

At 1 April 2024

-

209,552

49,166

258,718

Charge for year

-

9,429

29,279

38,708

Eliminated on disposal

-

-

(43,581

)

(43,581

)

At 31 March 2025

-

218,981

34,864

253,845

NET BOOK VALUE

At 31 March 2025

-

12,563

38,534

51,097

At 31 March 2024

970,933

20,167

65,722

1,056,822

11.

STOCKS

2025

2024

£

£

Stocks

4,169,954

4,083,845