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REGISTERED NUMBER: 01713300 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

SELECTRITE HARDWARE LTD

SELECTRITE HARDWARE LTD (REGISTERED NUMBER: 01713300)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SELECTRITE HARDWARE LTD

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTORS: Mr M P Townend
Miss C J Townend



SECRETARY: Mrs H J Townend



REGISTERED OFFICE: Greville House
10 Jury Street
Warwick
Warwickshire
CV34 4EW



REGISTERED NUMBER: 01713300 (England and Wales)



ACCOUNTANTS: Michael Harwood & Co
Chartered Accountants
Greville House
10 Jury Street
Warwick
Warwickshire
CV34 4EW



BANKERS: Lloyds Bank
73 The Parade
Leamington Spa
Leamington Spa
Warwickshire
CV32 4BB

SELECTRITE HARDWARE LTD (REGISTERED NUMBER: 01713300)

BALANCE SHEET
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 111 306
111 306

CURRENT ASSETS
Stocks 10,000 12,000
Debtors 6 70,387 70,075
Investments 7 27,000 27,000
Cash at bank 97,004 119,344
204,391 228,419
CREDITORS
Amounts falling due within one year 8 77,202 64,066
NET CURRENT ASSETS 127,189 164,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

127,300

164,659

CREDITORS
Amounts falling due after more than one
year

9

(16,667

)

(26,667

)

PROVISIONS FOR LIABILITIES 10 (21 ) (58 )
NET ASSETS 110,612 137,934

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 109,612 136,934
SHAREHOLDERS' FUNDS 110,612 137,934

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

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

SELECTRITE HARDWARE LTD (REGISTERED NUMBER: 01713300)

BALANCE SHEET - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:





Mr M P Townend - Director


SELECTRITE HARDWARE LTD (REGISTERED NUMBER: 01713300)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Selectrite Hardware 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.

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 2012, is being amortised evenly over its estimated useful life of five 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.
Short leasehold - 20% on cost
Plant and equipment - 20% on cost
Office equipment - 20% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 3 (2022 - 4 ) .

SELECTRITE HARDWARE LTD (REGISTERED NUMBER: 01713300)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 10,000
AMORTISATION
At 1 November 2022
and 31 October 2023 10,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Short Plant and Office Motor
leasehold equipment equipment vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022
and 31 October 2023 10,104 51,040 7,161 17,995 86,300
DEPRECIATION
At 1 November 2022 10,104 51,040 6,855 17,995 85,994
Charge for year - - 195 - 195
At 31 October 2023 10,104 51,040 7,050 17,995 86,189
NET BOOK VALUE
At 31 October 2023 - - 111 - 111
At 31 October 2022 - - 306 - 306

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 68,553 68,504
Prepayments and accrued income 1,834 1,571
70,387 70,075

7. CURRENT ASSET INVESTMENTS
31.10.23 31.10.22
£    £   
Co Funds investment 27,000 27,000

SELECTRITE HARDWARE LTD (REGISTERED NUMBER: 01713300)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 18,431 14,082
Amounts owed to associates - 258
Tax 3,479 6,934
Social security and other taxes 702 (619 )
VAT 12,034 11,363
Other creditors 3,457 2,134
Directors' current accounts 27,083 17,801
Accrued expenses 2,016 2,113
77,202 64,066

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bounce back loan 16,667 26,667

10. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 21 58

Deferred
tax
£   
Balance at 1 November 2022 58
Credit to Statement of Income and Retained Earnings during year (37 )
Balance at 31 October 2023 21

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
1,000 Ordinary £1 1,000 1,000