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REGISTERED NUMBER: 02611472 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

BE SELECTIVE FINANCIAL SERVICES LIMITED

BE SELECTIVE FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02611472)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BE SELECTIVE FINANCIAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: Dharampal Manku





REGISTERED OFFICE: 740 High Road
Leytonstone
London
E11 3AW





REGISTERED NUMBER: 02611472 (England and Wales)





ACCOUNTANTS: Prestons
Chartered Accountants
364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY

BE SELECTIVE FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02611472)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,063 22,220

CURRENT ASSETS
Debtors 5 164,084 178,884
Cash at bank 153,130 133,179
317,214 312,063
CREDITORS
Amounts falling due within one year 6 121,306 135,588
NET CURRENT ASSETS 195,908 176,475
TOTAL ASSETS LESS CURRENT
LIABILITIES

211,971

198,695

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 211,969 198,693
SHAREHOLDERS' FUNDS 211,971 198,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

BE SELECTIVE FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02611472)

BALANCE SHEET - continued
31 DECEMBER 2022


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2023 and were signed by:





Dharampal Manku - Director


BE SELECTIVE FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02611472)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Be Selective Financial Services 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.

Turnover
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the costs of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and Machinery - 15% Straight Line

Motor Vehicles - 15% Reducing balance

The asset's 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 and loss.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit and loss except that a change attributable to an item income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.


BE SELECTIVE FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02611472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowance have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern - covid19
The company has been impacted by the Covid19 pandemic. The company had seen a fall in turnover after the year end and as a result undertaken other cost saving measures.

The directors remain confident that turnover will return to normal level in the coming months. It is for these reasons the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

BE SELECTIVE FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02611472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022 107,132
Additions 522
At 31 December 2022 107,654
DEPRECIATION
At 1 January 2022 84,912
Charge for year 6,679
At 31 December 2022 91,591
NET BOOK VALUE
At 31 December 2022 16,063
At 31 December 2021 22,220

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 23,196
DEPRECIATION
At 1 January 2022 19,304
Charge for year 584
At 31 December 2022 19,888
NET BOOK VALUE
At 31 December 2022 3,308
At 31 December 2021 3,892

BE SELECTIVE FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02611472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 163,195 162,781
Other debtors 889 16,103
164,084 178,884

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 24,369 24,637
Trade creditors 852 1,016
Taxation and social security 13,266 20,010
Other creditors 82,819 89,925
121,306 135,588