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Registration number: 01850600

Snape Properties Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2026

Snape Properties Limited

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 8

Snape Properties Limited

(Registration number: 01850600)
Balance Sheet as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 4 | 4,366 | 5,235
Investment property | 5 | 2,875,000 | 2,185,000
Other financial assets | 6 | 100 | 100
|  | 2,879,466 | 2,190,335
Current assets |  |  |
Stocks | 7 | 4,028,589 | 5,340,971
Debtors | 8 | 5,918,234 | 5,893,822
Cash at bank and in hand |  | 996,935 | 634,004
|  | 10,943,758 | 11,868,797
Creditors: Amounts falling due within one year | 9 | (1,526,310) | (2,310,179)
Net current assets |  | 9,417,448 | 9,558,618
Total assets less current liabilities |  | 12,296,914 | 11,748,953
Creditors: Amounts falling due after more than one year | 9 | (888,000) | (425,000)
Provisions for liabilities |  | (136,809) | (137,026)
Net assets |  | 11,272,105 | 11,186,927
Capital and reserves |  |  |
Called up share capital | 10 | 1,333 | 1,333
Other reserves |  | 407,156 | 407,156
Retained earnings |  | 10,863,616 | 10,778,438
Shareholders' funds |  | 11,272,105 | 11,186,927

For the financial year ending 31 March 2026 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Snape Properties Limited

(Registration number: 01850600)
Balance Sheet as at 31 March 2026

Approved and authorised by the Board on 29 May 2026 and signed on its behalf by:

......................................... K J Snape Director

Snape Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1 | General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Daisy Way
Louth
Lincolnshire
LN11 0FS

These financial statements were authorised for issue by the Board on 29 May 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements relate to the individual entity and have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Summary of disclosure exemptions

The company has taken advantage of the exemptions within FRS 102 Section 1.12 relating to subsidiary companies.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents revenue due from the normal activities of the business to the extent that the company obtains a right to consideration in exchange for its performance of those activities, exclusive of value added tax.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Snape Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Motor vehicles | 25% straight line
Plant and machinery | 20% and 33% straight line

Investment property

Investment properties for which the fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit and loss.

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stocks

In the case of long term contracts, where the outcome of individual contracts can be estimated reliably and it is probable that the contract will be profitable, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting date. The stage of completion is assessed by reference to the proportion of work done relative to the total value of work under the contract. Provision is made for all known or expected losses on individual contracts in the year in which such losses are foreseen.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Income and Retained Earnings over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Snape Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Provisions

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.
Deferred tax is measured at the rates that are expected to apply in periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

3 | Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2025 - 2).

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2025 | 303,384 | 12,115 | 315,499
Additions | 4,435 | - | 4,435
At 31 March 2026 | 307,819 | 12,115 | 319,934
Depreciation
At 1 April 2025 | 298,149 | 12,115 | 310,264
Charge for the year | 5,304 | - | 5,304
At 31 March 2026 | 303,453 | 12,115 | 315,568
Carrying amount
At 31 March 2026 | 4,366 | - | 4,366
At 31 March 2025 | 5,235 | - | 5,235

5 | Investment properties

| 2026 £
At 1 April | 2,185,000
Additions | 690,000
At 31 March | 2,875,000

The company's investment property was subject to valuation by K.J. Snape (a director who is not a professionally qualified valuer). The basis of this valuation was a fair value basis in the context of the location and class of investment property being revalued. The historic cost equivalent of the property was £1,512,727.

There has been no valuation of investment property by an independent valuer.

Snape Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

6 | Other financial assets (current and non-current)

| Financial assets at cost less impairment £ | Total £
Non-current financial assets
Cost or valuation
At 1 April 2025 | 100 | 100
At 31 March 2026 | 100 | 100
Impairment
Carrying amount
At 31 March 2026 | 100 | 100

7 | Stocks

| 2026 £ | 2025 £
Work in progress | 4,028,589 | 5,340,971

8 | Debtors

Current | Note | 2026 £ | 2025 £
Trade debtors |  | 423,748 | 446,336
Amounts owed by related parties | 12 | 5,306,800 | 5,256,800
Prepayments |  | 37,995 | 47,135
Other debtors |  | 149,691 | 143,551
|  | 5,918,234 | 5,893,822

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2026 £ | 2025 £
Due within one year |  |  |
Loans and borrowings | 11 | 975,994 | 1,326,125
Trade creditors |  | 357,706 | 695,903
Taxation and social security |  | 170,543 | 263,984
Accruals and deferred income |  | 9,451 | 15,240
Other creditors |  | 12,616 | 8,927
|  | 1,526,310 | 2,310,179

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £Nil (2025 - £1,102,000).

Snape Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Creditors: amounts falling due after more than one year

| Note | 2026 £ | 2025 £
Due after one year |  |  |
Loans and borrowings | 11 | 888,000 | 425,000

| 2026 £ | 2025 £
Due after more than five years |  |
| - | -

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £888,000 (2025 - £425,000).

10 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
Ordinary of £1 each | 1,333 | 1,333 | 1,333 | 1,333

11 | Loans and borrowings

Non-current loans and borrowings

| 2026 £ | 2025 £
Bank borrowings | 888,000 | 425,000

Current loans and borrowings

| 2026 £ | 2025 £
Bank borrowings | - | 1,102,000
Other borrowings | 975,994 | 224,125
| 975,994 | 1,326,125

Snape Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

12 | Related party transactions

The company has taken advantage of the exemption in relation to Section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.

Transactions with Directors

2026 | At 1 April 2025 £ | Advances to Director £ | Repayments by Director £ | At 31 March 2026 £
K J Snape
Loan | - | 558,859 | (1,354,855) | (795,996)

2025 | At 1 April 2024 £ | Advances to Director £ | Repayments by Director £ | At 31 March 2025 £
K J Snape
Loan | 64,954 | 341,465 | (406,419) | -