Registered number
02645978
Selecta Properties Investment Limited
Filleted Accounts
for the year ended 30 September 2023
Selecta Properties Investment Limited
Registered number: 02645978
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,284,191 1,284,207
Current assets
Cash at bank and in hand 29,524 37,915
Creditors: amounts falling due within one year 4 (348,289) (430,446)
Net current liabilities (318,765) (392,531)
Net assets 965,426 891,676
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 964,426 890,676
Shareholders' funds 965,426 891,676
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Dinesh Shah
Director
Approved by the board on 20 March 2024
Selecta Properties Investment Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rented properties and services rendered. 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 measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Nil
Leasehold land and buildings Nil
Plant and machinery 20% reducing balances
Fixtures, fittings, tools and equipment 20% reducing balances
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 October 2022 1,284,124 15,961 1,300,085
At 30 September 2023 1,284,124 15,961 1,300,085
Depreciation
At 1 October 2022 - 15,878 15,878
Charge for the year - 16 16
At 30 September 2023 - 15,894 15,894
Net book value
At 30 September 2023 1,284,124 67 1,284,191
At 30 September 2022 1,284,124 83 1,284,207
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 21,743 10,265
Other creditors 326,546 420,181
348,289 430,446
5 Other information
Selecta Properties Investment Limited is a private company limited by shares and incorporated in England. Its registered office is:
25 Balham High Road
Balham
London
SW12 9AL
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