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COMPANY REGISTRATION NUMBER: 05684595
Select Interior Services Ltd
Filleted Unaudited Abridged Financial Statements
31 January 2023
Select Interior Services Ltd
Abridged Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
10,500
9,500
Current assets
Stocks
6,850
7,100
Debtors
63,995
62,991
--------
--------
70,845
70,091
Creditors: amounts falling due within one year
30,825
31,920
--------
--------
Net current assets
40,020
38,171
--------
--------
Total assets less current liabilities
50,520
47,671
Creditors: amounts falling due after more than one year
49,736
51,458
--------
--------
Net assets/(liabilities)
784
( 3,787)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
783
( 3,788)
----
-------
Shareholders funds/(deficit)
784
( 3,787)
----
-------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 January 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Select Interior Services Ltd
Abridged Statement of Financial Position (continued)
31 January 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 14 November 2023 , and are signed on behalf of the board by:
V Hawkes - Wright
Director
Company registration number: 05684595
Select Interior Services Ltd
Notes to the Abridged Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Queen Victoria Road, Coventry, CV1 3JH.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant And Equipment
-
15% reducing balance
Motor Vehicles
-
20% reducing balance
Equipment
-
10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
£
Cost
At 1 February 2022
32,842
Additions
2,649
--------
At 31 January 2023
35,491
--------
Depreciation
At 1 February 2022
23,342
Charge for the year
1,649
--------
At 31 January 2023
24,991
--------
Carrying amount
At 31 January 2023
10,500
--------
At 31 January 2022
9,500
--------
6. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
V Hawkes - Wright
----
----
----
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
V Hawkes - Wright
9,900
( 9,900)
-------
-------
----
7. Related party transactions
The company was under the control of Miss V Hawkes throughout the current and previous year. Miss V Hawkes is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.