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REGISTERED NUMBER: 02436797 (England and Wales)






















Select Business Products Limited

Unaudited Financial Statements for the Year Ended 31st March 2023






Select Business Products Limited (Registered number: 02436797)






Contents of the Financial Statements
for the year ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Select Business Products Limited

Company Information
for the year ended 31st March 2023







DIRECTORS: R Newsom
S R Sargerson
M J Fenton





SECRETARY: M J Fenton





REGISTERED OFFICE: 65 Castle Street
Hull
East Yorkshire
HU1 1SD





REGISTERED NUMBER: 02436797 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

Select Business Products Limited (Registered number: 02436797)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,765 -

CURRENT ASSETS
Stocks 16,824 14,873
Debtors 5 172,491 137,677
Cash at bank 316,415 271,781
505,730 424,331
CREDITORS
Amounts falling due within one year 6 206,469 165,173
NET CURRENT ASSETS 299,261 259,158
TOTAL ASSETS LESS CURRENT
LIABILITIES

308,026

259,158

PROVISIONS FOR LIABILITIES 2,191 -
NET ASSETS 305,835 259,158

CAPITAL AND RESERVES
Called up share capital 800 800
Capital redemption reserve 250 250
Retained earnings 304,785 258,108
305,835 259,158

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Business Products Limited (Registered number: 02436797)

Balance Sheet - continued
31st 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 21st December 2023 and were signed on its behalf by:





R Newsom - Director


Select Business Products Limited (Registered number: 02436797)

Notes to the Financial Statements
for the year ended 31st March 2023

1. STATUTORY INFORMATION

Select Business Products 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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of hardware and supplies are recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on insert detail dispatch of the goods.

Contract revenue

Turnover from contracts fro the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred as a proportion of total costs. Where the outcome can not be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows

Plant and machinery etc- 25% and 10% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Used stocks are valued at the lower of replacement cost and cost, adjusted where applicable for any loss.


Select Business Products Limited (Registered number: 02436797)

Notes to the Financial Statements - continued
for the year ended 31st 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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2022 25,091
Additions 8,990
Disposals (7,492 )
At 31st March 2023 26,589
DEPRECIATION
At 1st April 2022 25,091
Charge for year 225
Eliminated on disposal (7,492 )
At 31st March 2023 17,824
NET BOOK VALUE
At 31st March 2023 8,765

Select Business Products Limited (Registered number: 02436797)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 167,288 133,086
Other debtors 5,203 4,591
172,491 137,677

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 16,794 17,204
Taxation and social security 40,684 31,116
Other creditors 148,991 116,853
206,469 165,173