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REGISTERED NUMBER: 00517382 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

POULTEN, SELFE & LEE LIMITED

POULTEN, SELFE & LEE LIMITED (REGISTERED NUMBER: 00517382)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Chartered Certified Accountant's Report 2

Balance Sheet 3

Notes to the Financial Statements 5


POULTEN, SELFE & LEE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: S J Gosling
Mrs S L A D Gosling





REGISTERED OFFICE: 49 High Street
Burnham on Crouch
Essex
CM0 8AG





REGISTERED NUMBER: 00517382 (England and Wales)





ACCOUNTANT: Lescott Courts Limited
Chartered Certified Accountants
49 High Street
Burnham on Crouch
Essex
CM0 8AG

CHARTERED CERTIFIED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
POULTEN, SELFE & LEE LIMITED

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, I have prepared for your approval the financial statements of Poulten, Selfe & Lee Limited for the year ended 30 November 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 me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Poulten, Selfe & Lee Limited, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Poulten, Selfe & Lee Limited and state those matters that I have agreed to state to the Board of Directors of Poulten, Selfe & Lee Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that Poulten, Selfe & Lee Limited 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 Poulten, Selfe & Lee Limited. You consider that Poulten, Selfe & Lee Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Poulten, Selfe & Lee Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Lescott Courts Limited
Chartered Certified Accountants
49 High Street
Burnham on Crouch
Essex
CM0 8AG


28 March 2024

POULTEN, SELFE & LEE LIMITED (REGISTERED NUMBER: 00517382)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 15,239
Tangible assets 5 126,639 112,931
126,639 128,170

CURRENT ASSETS
Stocks 486,564 358,743
Debtors 6 219,315 544,558
Cash at bank and in hand 324,317 206,968
1,030,196 1,110,269
CREDITORS
Amounts falling due within one year 7 320,826 394,815
NET CURRENT ASSETS 709,370 715,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

836,009

843,624

CREDITORS
Amounts falling due after more than one
year

8

14,988

27,563
NET ASSETS 821,021 816,061

CAPITAL AND RESERVES
Called up share capital 250,000 250,000
Retained earnings 571,021 566,061
SHAREHOLDERS' FUNDS 821,021 816,061

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

POULTEN, SELFE & LEE LIMITED (REGISTERED NUMBER: 00517382)

BALANCE SHEET - continued
30 NOVEMBER 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 28 March 2024 and were signed on its behalf by:





S J Gosling - Director


POULTEN, SELFE & LEE LIMITED (REGISTERED NUMBER: 00517382)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Poulten, Selfe & Lee 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 the total amount invoiced by the Company for goods supplied and services provided, excluding VAT and trade discounts. Turnover is recognised when a sale or a service is made or an annual service contract is signed.

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 five years.

Tangible fixed assets and depreciation
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
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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 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.

POULTEN, SELFE & LEE LIMITED (REGISTERED NUMBER: 00517382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Research and development
Development costs incurred on specific projects are capitalised when recoverability can be assessed with reasonable certainty, and amortised in line with expected sales arising from the projects, over a period
not exceeding fives years. All other development costs are written off in the year of expenditure.

Foreign currencies
Loans to the subsidiary company are translated into sterling at the historical rate.

Other monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of transaction. Exchange differences arising are included in the profit and loss account for the year.

Defined pension contribution scheme
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.

Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Consolidation
The Company and its subsidiary undertakings form a small group as defined by statute and therefore, the Company has availed itself of the exemption under of the Companies Act, not to prepare group accounts.

Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss account over the expected useful lives of the assets concerned. Other grants are credited to the profit and loss account as the related expenditure is incurred.

Leasing and hire purchase
Assets obtained under hire purchase contracts and finance leases are capitalised as Tangible Fixed Assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance Leases are those where substantially all of the benefits and risks of ownership are assumed by the Company.

Obligations under such agreements are included in Creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and Loss Account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor, are charged to profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 24 ) .

POULTEN, SELFE & LEE LIMITED (REGISTERED NUMBER: 00517382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 December 2022
and 30 November 2023 578,347
AMORTISATION
At 1 December 2022 563,108
Amortisation for year 15,239
At 30 November 2023 578,347
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 15,239

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 162,756 172,837 77,941 38,591 452,125
Additions 49,812 7,475 - - 57,287
At 30 November 2023 212,568 180,312 77,941 38,591 509,412
DEPRECIATION
At 1 December 2022 101,950 158,847 46,131 32,266 339,194
Charge for year 29,636 4,119 6,362 3,462 43,579
At 30 November 2023 131,586 162,966 52,493 35,728 382,773
NET BOOK VALUE
At 30 November 2023 80,982 17,346 25,448 2,863 126,639
At 30 November 2022 60,806 13,990 31,810 6,325 112,931

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 83,673 490,481
Amounts owed by group undertakings 103,319 12,308
Other debtors 32,323 41,769
219,315 544,558

POULTEN, SELFE & LEE LIMITED (REGISTERED NUMBER: 00517382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,648 12,484
Hire purchase contracts 2,750 4,405
Trade creditors 109,960 168,057
Amounts owed to group undertakings 58,298 43,298
Taxation and social security 8,854 14,768
Other creditors 130,316 151,803
320,826 394,815

The group bank loan and overdraft are secured on a fixed and floating charge over the company's assets the group loan is disclosure and secured on the property held in PSL Property Ltd.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,988 24,813
Hire purchase contracts - 2,750
14,988 27,563

9. ULTIMATE CONTROLLING PARTY

The controlling party is S J Gosling.

10. RELATED PARTIES

At the year end the company was owed £103,319 (2022 : £12,307) from the parent company Gosling PSL Holdings Ltd. The company also owed £58,298 (2022 : £43,298) to PSL Property Ltd a company which is owned owned by PSL Holdings Ltd..