SNSEM2 Limited - Filleted accounts

Registered number

13608545

SNSEM2 Limited

Filleted Accounts

31 March 2026

SNSEM2 Limited
Registered number:		13608545
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		-			1

Current assets
Debtors	4	610			19,819
Cash at bank and in hand		79			89
		689			19,908

Creditors: amounts falling due within one year	5	(5,981)			(2,709,013)

Net current liabilities			(5,292)			(2,689,105)

Net liabilities			(5,292)			(2,689,104)

Capital and reserves
Called up share capital			1			1
Profit and loss account			(5,293)			(2,689,105)

Shareholder's funds			(5,292)			(2,689,104)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr N M M Johnston
Director
Approved by the board on 24 August 2026

SNSEM2 Limited
Notes to the Accounts
for the period from 1 October 2025 to 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Going concern
	The company ceased its business activities in February 2023 following the surrender of its leasehold interest and has not traded since that date. Accordingly, the financial statements have been prepared on a basis other than the going concern basis. The company had net liabilities of £5,292 at 31 March 2026 (30 September 2025: £2,689,104 net liabilities) and is reliant on the continued support of its parent company, SNSEM Limited. SNSEM Limited has confirmed that it will provide financial support to the company for a period of at least twelve months from the date of approval of these financial statements.

	Tangible fixed assets
	Tangible fixed assets are initially recognised at cost, comprising the purchase price and any costs directly attributable to bringing the asset into working condition for its intended use. Tangible fixed assets are subsequently measured at cost less accumulated depreciation and accumulated impairment losses. Assets under construction are not depreciated until they are completed and brought into use, at which point they are transferred to the appropriate asset category and depreciation commences. The carrying values and useful economic lives of tangible fixed assets are reviewed for impairment and appropriateness at each reporting date.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees	2026		2025
Number			Number

	Average number of persons employed by the company	0		0


3	Tangible fixed assets
				Assets under construction
£
	Cost
	At 1 October 2025			80,459
	Disposals			(80,459)
	At 31 March 2026			-

	Impairment
	At 1 October 2025			80,458
	On disposals			(80,458)
	At 31 March 2026			-

	Net book value
	At 31 March 2026			-
	At 30 September 2025			1


4	Debtors	2026		2025
£			£

	Trade debtors	1		19,301
	Prepayments and accrued income	187		53
	Other debtors	422		465
		610		19,819


5	Creditors: amounts falling due within one year	2026		2025
£			£

	Trade creditors	2,781		29,513
	Amounts owed to group undertakings	-		2,677,400
	Accruals and deferred income	3,200		2,100
		5,981		2,709,013

	Charges and security
	The company has granted security in favour of C. Hoare & Co. comprising a debenture dated 15 October 2021 creating fixed and floating charges over the company's assets and undertaking, together with legal charges over certain mineral interests and related leasehold rights. The charges were granted in connection with financing arrangements within the wider group under common control and remained registered against the Company at 31 March 2026.

6	Share capital	2026		2025
£			£
	Allotted, called up and paid up share capital

	1 Ordinary share of £1 each	1		1

		1		1


7	Related party transactions

	During the year, SNSEM Limited, the company's immediate parent undertaking, wrote off an amount of £2,689,806 due from the company. The balance written off was unsecured, interest-bearing and repayable on demand. No consideration was payable by the company in respect of the waiver. The transaction resulted in the derecognition of liabilities previously recognised within amounts owed to group undertakings. The company also had a balance due to SNSE Limited, a company under common control. The balance was unsecured, interest free and repayable on demand. The balance outstanding at 31 March 2026 was £nil (30 September 2025: £2,677,400).


8	Controlling party

	The company's immediate parent undertaking and ultimate controlling party is SNSEM Limited (company number 13605452), a company incorporated in England and Wales. The registered office of SNSEM Limited is The Estate Office, Quarry Farm, Banbury Road, Great Tew, Chipping Norton, England, OX7 4BT.


9	Other information

	SNSEM2 Limited is a private company limited by shares and incorporated in England. Its registered office is:
	The Estate Office
	Quarry Farm
	Great Tew
	Oxfordshire
	OX7 4BT