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REGISTERED NUMBER: 03491343 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Selcom Systems Limited

Selcom Systems Limited (Registered number: 03491343)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Selcom Systems Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr D Sellers
Ms S D Sellers





REGISTERED OFFICE: 7 Westfield House
Millfield Lane
Nether Poppleton
York
North Yorkshire
YO26 6GA





REGISTERED NUMBER: 03491343 (England and Wales)





ACCOUNTANTS: Beckingtons
2 Clifton Moor Business
Village
James Nicolson Link
York
North Yorkshire
YO30 4XG

Selcom Systems Limited (Registered number: 03491343)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,050 8,700
Tangible assets 5 38,001 45,391
46,051 54,091

CURRENT ASSETS
Stocks 129 367
Debtors 6 122,501 94,108
Cash at bank and in hand 18,346 55,625
140,976 150,100
CREDITORS
Amounts falling due within one year 7 110,650 113,997
NET CURRENT ASSETS 30,326 36,103
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,377

90,194

CREDITORS
Amounts falling due after more than one year 8 (20,000 ) (30,000 )

PROVISIONS FOR LIABILITIES (9,272 ) (8,413 )
NET ASSETS 47,105 51,781

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 46,905 51,581
SHAREHOLDERS' FUNDS 47,105 51,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Selcom Systems Limited (Registered number: 03491343)

Balance Sheet - continued
30 September 2023


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 Board of Directors and authorised for issue on 7 January 2024 and were signed on its behalf by:





Mr D Sellers - Director


Selcom Systems Limited (Registered number: 03491343)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Selcom Systems 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Selcom Systems Limited (Registered number: 03491343)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 10,000 10,000 20,000
AMORTISATION
At 1 October 2022 1,300 10,000 11,300
Amortisation for year 650 - 650
At 30 September 2023 1,950 10,000 11,950
NET BOOK VALUE
At 30 September 2023 8,050 - 8,050
At 30 September 2022 8,700 - 8,700

Selcom Systems Limited (Registered number: 03491343)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022 37,679 23,991 118,166 179,836
Additions 1,409 - 2,302 3,711
At 30 September 2023 39,088 23,991 120,468 183,547
DEPRECIATION
At 1 October 2022 16,770 22,809 94,866 134,445
Charge for year 4,464 236 6,401 11,101
At 30 September 2023 21,234 23,045 101,267 145,546
NET BOOK VALUE
At 30 September 2023 17,854 946 19,201 38,001
At 30 September 2022 20,909 1,182 23,300 45,391

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 52,512 51,849
Other debtors 69,989 42,259
122,501 94,108

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 44,544 46,039
Taxation and social security 36,764 36,577
Other creditors 19,342 21,381
110,650 113,997

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 20,000 30,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
200 Ordinary £1 200 200

Selcom Systems Limited (Registered number: 03491343)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
Mr D Sellers
Balance outstanding at start of year 41,166 -
Amounts advanced 68,844 41,166
Amounts repaid (41,166 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 68,844 41,166

The loan was repaid within 9 months of the company year end.