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Company Registration No. 4358147 (England and Wales)
SELECT VEHICLES LIMITED Unaudited accounts for the year ended 31 January 2024
SELECT VEHICLES LIMITED Unaudited accounts Contents
Page
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SELECT VEHICLES LIMITED Company Information for the year ended 31 January 2024
Director
Mr Mark Ferris
Company Number
4358147 (England and Wales)
Registered Office
SUITE A, 2ND FLOOR BEECH COURT, M60 BUSINESS PARK MANCHESTER M27 8FF ENGLAND
Accountants
Xeinadin Group Regent House Folds Road Bolton BL1 2RZ
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SELECT VEHICLES LIMITED Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
43,272 
46,101 
Current assets
Debtors
6,670 
20,553 
Cash at bank and in hand
217,576 
174,002 
224,246 
194,555 
Creditors: amounts falling due within one year
(126,203)
(112,546)
Net current assets
98,043 
82,009 
Total assets less current liabilities
141,315 
128,110 
Creditors: amounts falling due after more than one year
(23,545)
(32,253)
Provisions for liabilities
Deferred tax
(8,221)
(8,759)
Net assets
109,549 
87,098 
Capital and reserves
Called up share capital
17 
17 
Profit and loss account
109,532 
87,081 
Shareholders' funds
109,549 
87,098 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 August 2024 and were signed on its behalf by
Mr Mark Ferris Director Company Registration No. 4358147
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SELECT VEHICLES LIMITED Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
SELECT VEHICLES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 4358147. The registered office is SUITE A, 2ND FLOOR BEECH COURT,, M60 BUSINESS PARK, MANCHESTER, M27 8FF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance method
Computer equipment
15% reducing balance method
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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SELECT VEHICLES LIMITED Notes to the Accounts for the year ended 31 January 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 February 2023
64,274 
Additions
8,851 
At 31 January 2024
73,125 
Depreciation
At 1 February 2023
18,173 
Charge for the year
11,680 
At 31 January 2024
29,853 
Net book value
At 31 January 2024
43,272 
At 31 January 2023
46,101 
5
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
16 Ordinary shares of £1 each
16 
16 
1 Ordinary A share of £1 each
1 
1 
17 
17 
6
Average number of employees
During the year the average number of employees was 13 (2023: 13).
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