IRIS Accounts Production v23.3.1.45 02466022 director 1.3.22 28.2.23 28.2.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh024660222022-02-28024660222023-02-28024660222022-03-012023-02-28024660222021-02-28024660222021-03-012022-02-28024660222022-02-2802466022ns10:Originalns15:EnglandWales2022-03-012023-02-2802466022ns14:PoundSterlingns10:Original2022-03-012023-02-2802466022ns10:Originalns10:Director12022-03-012023-02-2802466022ns10:Original2022-03-012023-02-2802466022ns10:Original2023-02-2802466022ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2802466022ns10:Originalns10:SmallEntities2022-03-012023-02-2802466022ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2802466022ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2802466022ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2802466022ns10:Originalns10:FullAccounts2022-03-012023-02-2802466022ns10:Originalns10:RegisteredOffice2022-03-012023-02-2802466022ns10:Original2022-02-2802466022ns10:Originalns5:CurrentFinancialInstruments2023-02-2802466022ns10:Originalns5:CurrentFinancialInstruments2022-02-2802466022ns10:Originalns5:Non-currentFinancialInstruments2023-02-2802466022ns10:Originalns5:Non-currentFinancialInstruments2022-02-2802466022ns5:ShareCapitalns10:Original2023-02-2802466022ns5:ShareCapitalns10:Original2022-02-2802466022ns10:Originalns5:RevaluationReserve2023-02-2802466022ns10:Originalns5:RevaluationReserve2022-02-2802466022ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2802466022ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2802466022ns10:Original2021-03-012022-02-2802466022ns10:Originalns5:LandBuildings2022-02-2802466022ns10:Originalns5:FurnitureFittings2022-02-2802466022ns10:Originalns5:MotorVehicles2022-02-2802466022ns10:Originalns5:ComputerEquipment2022-02-2802466022ns10:Original2022-02-2802466022ns10:Originalns5:LandBuildings2022-03-012023-02-2802466022ns10:Originalns5:FurnitureFittings2022-03-012023-02-2802466022ns10:Originalns5:MotorVehicles2022-03-012023-02-2802466022ns10:Originalns5:ComputerEquipment2022-03-012023-02-2802466022ns10:Originalns5:LandBuildings2023-02-2802466022ns10:Originalns5:FurnitureFittings2023-02-2802466022ns10:Originalns5:MotorVehicles2023-02-2802466022ns10:Originalns5:ComputerEquipment2023-02-2802466022ns10:Originalns5:LandBuildings2022-02-2802466022ns10:Originalns5:FurnitureFittings2022-02-2802466022ns10:Originalns5:MotorVehicles2022-02-2802466022ns10:Originalns5:ComputerEquipment2022-02-2802466022ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-02-2802466022ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-02-2802466022ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-02-2802466022ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-02-2802466022ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-02-2802466022ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-02-28
REGISTERED NUMBER: 02466022 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Select Line Carpets & Floorings
Limited

Select Line Carpets & Floorings
Limited (Registered number: 02466022)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Select Line Carpets & Floorings
Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: W A Johnstone





REGISTERED OFFICE: Athena Business Centre
Moray Road
Elgin Industrial Estate
Swindon
SN2 8XA





REGISTERED NUMBER: 02466022 (England and Wales)

Select Line Carpets & Floorings
Limited (Registered number: 02466022)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 604,838 605,786

CURRENT ASSETS
Cash at bank 6,179 28,366

CREDITORS
Amounts falling due within one year 5 237,210 257,304
NET CURRENT LIABILITIES (231,031 ) (228,938 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

373,807

376,848

CREDITORS
Amounts falling due after more than one year 6 223,235 246,415
NET ASSETS 150,572 130,433

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Revaluation reserve 12,681 12,681
Retained earnings 135,891 115,752
150,572 130,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 November 2023 and were signed by:





W A Johnstone - Director


Select Line Carpets & Floorings
Limited (Registered number: 02466022)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Select Line Carpets & Floorings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation and residual values
Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life as follows:

Fixtures and fittings - 15% Reducing balance
Computer equipment - 33% Reducing balance
Motor vehicles - 25% Reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

Revaluation of properties
Individual freehold and leasehold properties are revalued to fair value every year with the surplus or deficit on book value being transferred to the revaluation reserve, except that a deficit which is in excess of any previously recognised surplus over depreciated cost relating to the same property, or the reversal of such a deficit, is charged (or credited) to the profit and loss account.

Investment properties
Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with an change recognised in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Select Line Carpets & Floorings
Limited (Registered number: 02466022)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for rents received net of value added taxes,

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022
and 28 February 2023 600,000 48,521 9,390 375 658,286
DEPRECIATION
At 1 March 2022 - 43,491 8,685 324 52,500
Charge for year - 755 176 17 948
At 28 February 2023 - 44,246 8,861 341 53,448
NET BOOK VALUE
At 28 February 2023 600,000 4,275 529 34 604,838
At 28 February 2022 600,000 5,030 705 51 605,786

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 34,126 34,126
Trade creditors 238 476
Tax 5,034 7,504
Social security and other taxes (2 ) 22
Net Wages 850 -
VAT 2,040 2,923
Directors' current accounts 193,824 211,273
Accrued expenses 1,100 980
237,210 257,304

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 27,244 27,244
Bank loans - 2-5 years 84,762 84,762
Bank loans more 5 yr by instal 111,229 134,409
223,235 246,415

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 111,229 134,409