IRIS Accounts Production v23.3.1.45 02289216 Board of Directors 1.4.22 31.3.23 31.3.23 true false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure022892162022-03-31022892162023-03-31022892162022-04-012023-03-31022892162021-03-31022892162021-04-012022-03-31022892162022-03-3102289216ns16:EnglandWales2022-04-012023-03-3102289216ns15:PoundSterling2022-04-012023-03-3102289216ns11:Director12022-04-012023-03-3102289216ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3102289216ns11:SmallEntities2022-04-012023-03-3102289216ns11:AuditExemptWithAccountantsReport2022-04-012023-03-3102289216ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3102289216ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3102289216ns11:FullAccounts2022-04-012023-03-310228921612022-04-012023-03-3102289216ns11:Director22022-04-012023-03-3102289216ns11:Director32022-04-012023-03-3102289216ns11:Director42022-04-012023-03-3102289216ns11:Director52022-04-012023-03-3102289216ns11:Director62022-04-012023-03-3102289216ns11:CompanySecretary12022-04-012023-03-3102289216ns11:RegisteredOffice2022-04-012023-03-3102289216ns6:CurrentFinancialInstruments2023-03-3102289216ns6:CurrentFinancialInstruments2022-03-3102289216ns6:Non-currentFinancialInstruments2023-03-3102289216ns6:Non-currentFinancialInstruments2022-03-3102289216ns6:ShareCapital2023-03-3102289216ns6:ShareCapital2022-03-3102289216ns6:RevaluationReserve2023-03-3102289216ns6:RevaluationReserve2022-03-3102289216ns6:CapitalRedemptionReserve2023-03-3102289216ns6:CapitalRedemptionReserve2022-03-3102289216ns6:RetainedEarningsAccumulatedLosses2023-03-3102289216ns6:RetainedEarningsAccumulatedLosses2022-03-3102289216ns6:NetGoodwill2022-04-012023-03-3102289216ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3102289216ns6:NetGoodwill2022-03-3102289216ns6:NetGoodwill2023-03-3102289216ns6:NetGoodwill2022-03-3102289216ns6:PlantMachinery2022-03-3102289216ns6:PlantMachinery2022-04-012023-03-3102289216ns6:PlantMachinery2023-03-3102289216ns6:PlantMachinery2022-03-3102289216ns6:CostValuation2022-03-3102289216ns6:Subsidiary12022-04-012023-03-31022892161ns6:Subsidiary12022-04-012023-03-3102289216ns6:Subsidiary22022-04-012023-03-3102289216ns6:Subsidiary232022-04-012023-03-3102289216ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3102289216ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3102289216ns6:RevaluationReserve2022-03-31
REGISTERED NUMBER: 02289216 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

The Select Group of Companies Ltd

The Select Group of Companies Ltd (Registered number: 02289216)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

The Select Group of Companies Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R H Archer
Mrs J B Archer
Ms B R Archer
A R Archer
Ms L M King
A C Madgwick





SECRETARY: Mrs J B Archer





REGISTERED OFFICE: Aspen Way
Yalberton Industrial Estate
Paignton
Devon
TQ4 7QR





REGISTERED NUMBER: 02289216 (England and Wales)





ACCOUNTANTS: Kirk Hills Chartered Accountants
5 Barnfield Crescent
Exeter
Devon
EX1 1QT

The Select Group of Companies Ltd (Registered number: 02289216)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 65,521 72,374
Tangible assets 5 - 140,104
Investments 6 4 4
65,525 212,482

CURRENT ASSETS
Debtors 7 175,915 296,538
Cash at bank and in hand 5,570 299
181,485 296,837
CREDITORS
Amounts falling due within one year 8 123,522 670,663
NET CURRENT ASSETS/(LIABILITIES) 57,963 (373,826 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

123,488

(161,344

)

CREDITORS
Amounts falling due after more than one
year

9

(71,250

)

(166,250

)

PROVISIONS FOR LIABILITIES - (22,600 )
NET ASSETS/(LIABILITIES) 52,238 (350,194 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 10 25,591 25,591
Capital redemption reserve 8,530 8,530
Retained earnings 17,117 (385,315 )
52,238 (350,194 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

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

The Select Group of Companies Ltd (Registered number: 02289216)

Balance Sheet - continued
31 March 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 22 December 2023 and were signed on its behalf by:





A R Archer - Director


The Select Group of Companies Ltd (Registered number: 02289216)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

The Select Group of Companies Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Development costs
Development costs are being amortised evenly over their estimated useful life of 10 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

The Select Group of Companies Ltd (Registered number: 02289216)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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.

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 8 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 347,153
AMORTISATION
At 1 April 2022 274,779
Charge for year 6,853
At 31 March 2023 281,632
NET BOOK VALUE
At 31 March 2023 65,521
At 31 March 2022 72,374

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 473,551
Disposals (473,551 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 333,447
Eliminated on disposal (333,447 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 140,104

The Select Group of Companies Ltd (Registered number: 02289216)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 4
NET BOOK VALUE
At 31 March 2023 4
At 31 March 2022 4

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Trade Counter Direct Limited
Registered office: Aspen Way, Yalberton Industrial Estate, Paignton, Devon, TQ4 7QR
Nature of business: Wholesale of hardware, plumbing, heating equip
%
Class of shares: holding
Ordinary 100.00

Select Trade Brands Limited
Registered office: Aspen Way, Yalberton Industrial Estate, Paignton, Devon, TQ4 7QR
Nature of business: Wholesale of hardware, plumbing, heating equip
%
Class of shares: holding
Ordinary 100.00

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors - 4,422
Amounts owed by group undertakings 63,254 -
Other debtors 112,661 292,116
175,915 296,538

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 95,000 110,721
Trade creditors - 44,789
Amounts owed to group undertakings - 458,836
Taxation and social security 27,433 53,430
Other creditors 1,089 2,887
123,522 670,663

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 71,250 166,250

The Select Group of Companies Ltd (Registered number: 02289216)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


10. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 25,591

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Select Group of Companies Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Select Group of Companies Ltd for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Select Group of Companies Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Select Group of Companies Ltd and state those matters that we have agreed to state to the Board of Directors of The Select Group of Companies Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Select Group of Companies Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Select Group of Companies Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Select Group of Companies Ltd. You consider that The Select Group of Companies Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Select Group of Companies Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kirk Hills Chartered Accountants
5 Barnfield Crescent
Exeter
Devon
EX1 1QT


23 December 2023