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Unaudited Financial Statements |
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For The Year Ended 31 December 2020 |
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Snell Holdings Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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For The Year Ended 31 December 2020 |
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for |
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Snell Holdings Limited |
Snell Holdings Limited (Registered number: 02383466) |
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Contents of the Financial Statements |
For The Year Ended 31 December 2020 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Snell Holdings Limited |
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Company Information |
For The Year Ended 31 December 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Goodridge Court |
Goodridge Avenue |
Gloucester |
Gloucestershire |
GL2 5EN |
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BANKERS: |
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440 Strand |
London |
WC2R 0QS |
Snell Holdings Limited (Registered number: 02383466) |
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Abridged Balance Sheet |
31 December 2020 |
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31.12.20 | 31.12.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Snell Holdings Limited (Registered number: 02383466) |
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Abridged Balance Sheet - continued |
31 December 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Snell Holdings Limited (Registered number: 02383466) |
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Notes to the Financial Statements |
For The Year Ended 31 December 2020 |
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1. | STATUTORY INFORMATION |
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Snell Holdings Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Snell Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Leasehold Property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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No depreciation is currently provided on freehold property because in the directors opinion the real (inflated adjusted) estimated residual value is not less than the carrying value in the accounts. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Snell Holdings Limited (Registered number: 02383466) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet 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. |
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Basic financial assets |
Basic financial assets, which include trade and 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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
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Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss. |
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Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity. |
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Classification of financial liabilities |
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. |
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Basic financial liabilities |
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Basic financial liabilities, including trade and other creditors, are recognised at transaction price. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price. |
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Derecognition of financial liabilities |
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire. |
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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. |
Snell Holdings Limited (Registered number: 02383466) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Investments |
Fixed asset investments are stated in the balance sheet at cost, less provision for any permanent diminution in value. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 January 2020 |
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Additions |
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At 31 December 2020 |
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DEPRECIATION |
At 1 January 2020 |
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Charge for year |
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At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1 January 2020 |
and 31 December 2020 | 1,456,494 |
NET BOOK VALUE |
At 31 December 2020 | 1,456,494 |
At 31 December 2019 | 1,456,494 |