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REGISTERED NUMBER: 04843483 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Select Trade Brands Ltd

Select Trade Brands Ltd (Registered number: 04843483)

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 7

Select Trade Brands Ltd

Company Information
for the Year Ended 31 March 2023







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





SECRETARY: Mrs J B Archer





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





REGISTERED NUMBER: 04843483 (England and Wales)





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

Select Trade Brands Ltd (Registered number: 04843483)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 332,624 116,006
Tangible assets 5 172,002 21,923
504,626 137,929

CURRENT ASSETS
Stocks 691,619 226,403
Debtors 6 1,000,526 787,595
Cash in hand 4 -
1,692,149 1,013,998
CREDITORS
Amounts falling due within one year 7 1,780,389 527,311
NET CURRENT (LIABILITIES)/ASSETS (88,240 ) 486,687
TOTAL ASSETS LESS CURRENT
LIABILITIES

416,386

624,616

CREDITORS
Amounts falling due after more than one
year

8

(205,749

)

(172,250

)

PROVISIONS FOR LIABILITIES (29,332 ) (4,165 )
NET ASSETS 181,305 448,201

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 5,287 5,287
Capital redemption reserve 1,762 1,762
Retained earnings 174,254 441,150
181,305 448,201

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.

Select Trade Brands Ltd (Registered number: 04843483)

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


Select Trade Brands Ltd (Registered number: 04843483)

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


1. STATUTORY INFORMATION

Select Trade Brands 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten 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.

Development costs 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.

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/ completion.

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.


Select Trade Brands Ltd (Registered number: 04843483)

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


2. ACCOUNTING POLICIES - continued
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.

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 18 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022 202,315 - 202,315
Additions - 243,000 243,000
At 31 March 2023 202,315 243,000 445,315
AMORTISATION
At 1 April 2022 86,309 - 86,309
Charge for year 14,232 12,150 26,382
At 31 March 2023 100,541 12,150 112,691
NET BOOK VALUE
At 31 March 2023 101,774 230,850 332,624
At 31 March 2022 116,006 - 116,006

Select Trade Brands Ltd (Registered number: 04843483)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 75,222
Additions 209,805
At 31 March 2023 285,027
DEPRECIATION
At 1 April 2022 53,299
Charge for year 59,726
At 31 March 2023 113,025
NET BOOK VALUE
At 31 March 2023 172,002
At 31 March 2022 21,923

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 487,681 231,636
Amounts owed by group undertakings 58,262 555,959
Other debtors 454,583 -
1,000,526 787,595

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 78,078 53,196
Trade creditors 1,275,832 314,847
Taxation and social security 88,083 434
Other creditors 338,396 158,834
1,780,389 527,311

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 205,749 172,250

9. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 5,287

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Select Trade Brands 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 Select Trade Brands 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 Select Trade Brands 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 Select Trade Brands Ltd and state those matters that we have agreed to state to the Board of Directors of Select Trade Brands 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 Select Trade Brands Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Select Trade Brands 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 Select Trade Brands Ltd. You consider that Select Trade Brands 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 Select Trade Brands 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