IRIS Accounts Production v23.4.0.336 02224884 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false true false 28302 29055 21301 24391 19537 23638 26538 28302 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh022248842022-07-31022248842023-07-31022248842022-08-012023-07-31022248842021-07-31022248842021-08-012022-07-31022248842022-07-3102224884ns15:EnglandWales2022-08-012023-07-3102224884ns14:PoundSterling2022-08-012023-07-3102224884ns10:Director12022-08-012023-07-3102224884ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3102224884ns10:SmallEntities2022-08-012023-07-3102224884ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3102224884ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3102224884ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3102224884ns10:FullAccounts2022-08-012023-07-310222488441ns10:Director12022-07-310222488441ns10:Director12021-07-310222488441ns10:Director12022-08-012023-07-310222488441ns10:Director12021-08-012022-07-310222488441ns10:Director12023-07-310222488441ns10:Director12022-07-3102224884ns10:Director22022-08-012023-07-3102224884ns10:Director32022-08-012023-07-3102224884ns10:Director42022-08-012023-07-3102224884ns10:CompanySecretary12022-08-012023-07-3102224884ns10:RegisteredOffice2022-08-012023-07-3102224884ns5:CurrentFinancialInstruments2023-07-3102224884ns5:CurrentFinancialInstruments2022-07-3102224884ns5:Non-currentFinancialInstruments2023-07-3102224884ns5:Non-currentFinancialInstruments2022-07-3102224884ns5:ShareCapital2023-07-3102224884ns5:ShareCapital2022-07-3102224884ns5:RetainedEarningsAccumulatedLosses2023-07-3102224884ns5:RetainedEarningsAccumulatedLosses2022-07-3102224884ns5:FurnitureFittings2022-08-012023-07-3102224884ns5:ComputerEquipment2022-08-012023-07-3102224884ns5:LeaseholdImprovements2022-07-3102224884ns5:FurnitureFittings2022-07-3102224884ns5:ComputerEquipment2022-07-3102224884ns5:LeaseholdImprovements2022-08-012023-07-3102224884ns5:LeaseholdImprovements2023-07-3102224884ns5:FurnitureFittings2023-07-3102224884ns5:ComputerEquipment2023-07-3102224884ns5:LeaseholdImprovements2022-07-3102224884ns5:FurnitureFittings2022-07-3102224884ns5:ComputerEquipment2022-07-3102224884ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3102224884ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3102224884ns5:WithinOneYear2023-07-3102224884ns5:WithinOneYear2022-07-3102224884ns5:BetweenOneFiveYears2023-07-3102224884ns5:BetweenOneFiveYears2022-07-3102224884ns5:AllPeriods2023-07-3102224884ns5:AllPeriods2022-07-3102224884ns10:Director222022-07-3102224884ns10:Director222021-07-3102224884ns10:Director222022-08-012023-07-3102224884ns10:Director222021-08-012022-07-3102224884ns10:Director222023-07-3102224884ns10:Director222022-07-31
REGISTERED NUMBER: 02224884 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

SAVAGE SELECTION LIMITED

SAVAGE SELECTION LIMITED (REGISTERED NUMBER: 02224884)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 July 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


SAVAGE SELECTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 July 2023







DIRECTORS: Mr M Savage
Mrs A M Savage
Mr M C Storey
Mr A R H Nicholls





SECRETARY: Mrs A M Savage





REGISTERED OFFICE: The Ox House
Market Place Northleach
Cheltenham
GL54 3EG





REGISTERED NUMBER: 02224884 (England and Wales)





ACCOUNTANTS: Mitchell Glanville Limited
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX

SAVAGE SELECTION LIMITED (REGISTERED NUMBER: 02224884)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,368 -

CURRENT ASSETS
Stocks 5 421,599 410,025
Debtors 6 279,004 239,209
Cash at bank 32,524 68,243
733,127 717,477
CREDITORS
Amounts falling due within one year 7 477,480 478,613
NET CURRENT ASSETS 255,647 238,864
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,015

238,864

CREDITORS
Amounts falling due after more than one year 8 (26,538 ) (28,302 )

PROVISIONS FOR LIABILITIES (808 ) -
NET ASSETS 232,669 210,562

CAPITAL AND RESERVES
Called up share capital 40,007 40,007
Retained earnings 192,662 170,555
SHAREHOLDERS' FUNDS 232,669 210,562

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 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 11 April 2024 and were signed on its behalf by:





Mr M Savage - Director


SAVAGE SELECTION LIMITED (REGISTERED NUMBER: 02224884)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 July 2023

1. STATUTORY INFORMATION

Savage Selection 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, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% 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 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 1 (2022 - 3 ) .

SAVAGE SELECTION LIMITED (REGISTERED NUMBER: 02224884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 July 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 13,023 10,662 18,257 41,942
Additions 2,100 2,655 - 4,755
At 31 July 2023 15,123 13,317 18,257 46,697
DEPRECIATION
At 1 August 2022 13,023 10,662 18,257 41,942
Charge for year - 387 - 387
At 31 July 2023 13,023 11,049 18,257 42,329
NET BOOK VALUE
At 31 July 2023 2,100 2,268 - 4,368
At 31 July 2022 - - - -

5. STOCKS
2023 2022
£    £   
Stocks 421,599 410,025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 274,539 234,951
Prepayments 4,465 4,258
279,004 239,209

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 18,697 26,562
Trade creditors 424,564 421,721
Tax 8,503 9,442
VAT 18,666 13,938
Accruals and deferred income 7,050 6,950
477,480 478,613

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Directors' loan accounts 26,538 28,302

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 18,697 26,562

SAVAGE SELECTION LIMITED (REGISTERED NUMBER: 02224884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 July 2023

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 23,708 25,601
Between one and five years 40,000 63,708
63,708 89,309

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Mrs A M Savage and Mr M Savage
Balance outstanding at start of year (28,302 ) (29,055 )
Amounts advanced 21,301 24,391
Amounts repaid (19,537 ) (23,638 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (26,538 ) (28,302 )

The loan is repayable on demand and bears no interest.

12. RELATED PARTY DISCLOSURES

Included in rent received is rent charged to The Curious Wine Cellar Ltd which is partially owed by the directors.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Savage.