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Registered number:
FOR THE YEAR ENDED 30 APRIL 2026
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SNELLINGS LIMITED
COMPANY INFORMATION
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SNELLINGS LIMITED
CONTENTS
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SNELLINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2026
The directors present their annual report and the audited financial statements for the financial year ended 30 April 2026.
The Company's ultimate parent undertaking in conjunction with group employees, has defined its core values as being Professional, Trustworthy and Friendly under the culture and ethos of being Determined to do the Right Thing. These values are under pinned by both knowledge and experience. Videos were produced and record the processes involved and these now form part of the formal Staff induction process to ensure that they endure for future Trustees and employees.
Business review The Group operates in highly competitive markets. The Group has adopted FRS 102, which exposes results to the volatility of the stock market. Consequently, the financial key performance indictors below have been adjusted to discount the unrealised effects of revaluation. The Group has worked hard during the last year, and the directors understand the reasons for the disappointing results given the volatility of the economic and political climate throughout the last year. These include the continuing war between Russia and Ukraine, a world-wide cost of living crisis, rising interest rates and commodity prices. The Change of Government, the taxation changes introduced in the 2025 budget and another Prime Minister have adversely impacted upon business confidence and consumer spending. Despite this the Group remains well funded to weather short term headwinds whilst it repositions its businesses. During the year the Company made a Gift Aid payment of £90,000 to The R C Snelling Charitable Trust (The Trust), in keeping with the Group’s core objective of providing appropriate funding, to enable the Trust to continue its mission of supporting its beneficiaries.
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SNELLINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
The directors have identified the following principal risks and uncertainties affecting the Group:
Policital Impact With the change of Government in June 2024, and the interim budget which saw all business having to pay substantially more tax under NI, there has been a decline in business and consumer confidence. This has made the already difficult environment for retailers substantially more challenging. The Group will continue to manage this through cost and stock control and investing in new products and markets. Actions of competitors Online retailing and price competitiveness continue to threaten the High Street which, over the past few years, has seen many well-known names disappear. The Group is constantly reviewing its route to market in light of changing market conditions in order to ensure its continued profitability. The educational and corporate markets in which the Group operates are extremely competitive. The Group continues to invest in its staff and operations building a successful brand which deliver quality, reliability and expertise. This is evidenced by the industry nominations and awards received for many of its projects, including the 2026 International Award for best corporate project. The directors believe the Group is well placed to successfully deal with any such challenges should they arise.
The Group uses a range of performance measures to monitor and manage the business effectively. These are both financial and non-financial and the most significant of these are the key performance indicators (KPIs).
The key financial performance indicators are turnover, net profit and net margin adjusted for the effects of revaluation movements. These KPIs indicate the volume of work the Group has undertaken as well as the efficiency and profitability with which this work has been delivered. The key non-financial performance indicator is the average number of staff employed by the Group. The key financial performance indicators for the year ended 30 April 2026, with comparatives for the year ended 30 April 2025, are set out below:
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SNELLINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
The Group uses various financial instruments including deposit accounts and cash, and items such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to ensure sufficient finance for the Group's operations.
The existence of these financial instruments exposes the Group to several financial risks, which are described in more detail below. The main risks arising from the Group's financial instruments are credit risk, interest rate risk and foreign currency movements. The directors review and agree policies for managing each of these risks and they are summarised below. Foreign exchange risk The Group, in trading overseas, is subject to the risk of foreign currency fluctuations. Foreign exchange rates are regularly monitored to control this exposure to the Group's operations. Credit risk The Group's principal credit risk relates to the recovery of amounts owed by trade debtors. To manage credit risk the directors set limits for customers based on a combination of payment history and third-party credit reference information. Additionally, the Companies insure against the potential risk of credit default on contracts over a set amount. Credit limits are reviewed on a regular basis in conjunction with debt ageing and collection history. Debts are actively chased by the credit control department. Interest rate risk The Group is subject to interest rate risk in relation to the returns received on their investments and cash balances. The directors review the Group's investments on a regular basis to ensure they are gaining the optimum returns available. Cyber security risk The Group has a comprehensive insurance policy in place against cyber security risks, and all such risks are monitored during board meetings via a risk register. The Group is also working toward the attainment of ISO27001 certification, a world leading standard for information security management systems.
This report was approved by the board and signed on its behalf.
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SNELLINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2026
The directors present their report and the financial statements for the year ended 30 April 2026.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments 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 Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The principal activities of R.C. Snelling Limited are the rental, retail and servicing of televisions and home appliances. The principal activity of Snelling Business Systems Limited is the provision of integrated audio-visual systems and communications technology. R.C. Snelling (Blofield) Limited and Gerald Giles Limited are dormant companies.
The profit for the year, after taxation, amounted to £76,115 (2025 - loss £438,597).
The directors do not recommend the payment of a dividend.
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SNELLINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
The directors who served during the year were:
The auditors, MA Partners Audit LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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SNELLINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SNELLINGS LIMITED
We have audited the financial statements of Snellings Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 30 April 2026, which comprise the Consolidated Statement of Income and Retained Earnings, the Consolidated Analysis of Net Debt, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows and the related notes, 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 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 Group's or the Parent 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.
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SNELLINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SNELLINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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SNELLINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SNELLINGS LIMITED (CONTINUED)
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 an Auditors' Report 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 Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the Group. Our approach was as follows:
∙We obtained an understanding of the legal and regulatory requirements applicable to the parent Company and the Group and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation.
∙We obtained an understanding of how the parent Company and the Group comply with these requirements by discussions with management and those charged with governance.
∙We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.
∙We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.
Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.
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SNELLINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SNELLINGS LIMITED (CONTINUED)
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditors' 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 an Auditors' Report 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.
for and on behalf of
Chartered Accountants
Statutory Auditors
7 The Close
Norfolk
NR1 4DJ
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SNELLINGS LIMITED
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 APRIL 2026
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SNELLINGS LIMITED
REGISTERED NUMBER: 07613036
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 16 to 34 form part of these financial statements.
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SNELLINGS LIMITED
REGISTERED NUMBER: 07613036
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 16 to 34 form part of these financial statements.
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SNELLINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2026
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SNELLINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
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SNELLINGS LIMITED
CONSOLIDATED ANALYSIS OF NET CASH
FOR THE YEAR ENDED 30 APRIL 2026
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
Snellings Limited is a private company, limited by shares, incorporated in England and Wales. The registered office of the Company is Blofield Corner, Blofield, Norfolk, NR13 4SQ.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Income and Retained Earnings in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.
The Group is expected to have adequate resources to continue in operational existence for the forseeable future and at least twelve months from the date of signing these financial statements. Therefore the directors have adopted the going concern basis of accounting in preparing these financial statements.
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
The principal activities of the Group are the rental, retail and servicing of televisions and home appliances; and the provision of integrated audio-visual systems and communications technology.
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
Grants of a revenue nature are recognised in the Consolidated Statement of Income and Retained Earnings in the same period as the related expenditure.
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Financial liabilities and equity instruments are classified according to the substance of the contractual
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
2.Accounting policies (continued)
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
The judgements, estimates and assumptions which have significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are addressed below: Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 14 for the carrying amount of the property plant and equipment, and note 2.12 for the useful economic lives for each class of assets. Inventory provisioning The Group sells and installs integrated audio visual systems and communications technology which is subject to industry demands and trends. Consequently, it is necessary to consider the recoverability of the cost of inventory and the associated provisioning required. When calculating the inventory provision, management consider the nature and condition of the inventory, as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials. See note 16 for the net carrying amount of the inventory and associated provision. Impairment of debtors The Group makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 17 for the net carrying amount of the debtors and associated impairment provision. Revenue recognition The Group uses the percentage-of-completion method in accounting for its fixed-price contracts. Use of the percentage-of-completion method requires the Group to estimate the services performed to date as a proportion of the total services to be performed.
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
Analysis of turnover by country of destination:
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
12.Taxation (continued)
There were no factors that may affect future tax charges.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Income and Retained Earnings in these financial statements. The profit after tax of the parent Company for the year was £
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
14.Tangible fixed assets (continued)
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
Page 30
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
Page 31
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
Merger Reserve
Profit and loss account
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and are detailed in note 8 to the financial statements. Contributions totalling £31,709 (2025 - £33,841) were payable to the fund at the reporting date and are included in creditors.
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SNELLINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2026
The ultimate parent undertaking is The R C Snelling Charitable Trust (registered charity no. 1074776).
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