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REGISTERED NUMBER: 06216749 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

SELECT SWITCHGEAR AND CONTROL LIMITED

SELECT SWITCHGEAR AND CONTROL LIMITED (REGISTERED NUMBER: 06216749)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SELECT SWITCHGEAR AND CONTROL LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: J P C Denham
T A McDonagh





SECRETARY: Mrs T A McDonagh





REGISTERED OFFICE: Unit 2
7 Magna Road
Wigston
Leicester
Leicestershire
LE18 4ZH





REGISTERED NUMBER: 06216749 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

SELECT SWITCHGEAR AND CONTROL LIMITED (REGISTERED NUMBER: 06216749)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 69,831 62,245

CURRENT ASSETS
Stocks 108,985 120,541
Debtors 5 1,367,737 1,476,075
Cash at bank and in hand 1,803,870 1,460,514
3,280,592 3,057,130
CREDITORS
Amounts falling due within one year 6 1,408,006 1,234,481
NET CURRENT ASSETS 1,872,586 1,822,649
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,942,417

1,884,894

PROVISIONS FOR LIABILITIES 17,460 15,562
NET ASSETS 1,924,957 1,869,332

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Share premium 39,600 39,600
Retained earnings 1,883,357 1,827,732
SHAREHOLDERS' FUNDS 1,924,957 1,869,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 SWITCHGEAR AND CONTROL LIMITED (REGISTERED NUMBER: 06216749)

BALANCE SHEET - continued
30 April 2024


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 17 September 2024 and were signed on its behalf by:





T A McDonagh - Director


SELECT SWITCHGEAR AND CONTROL LIMITED (REGISTERED NUMBER: 06216749)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Select Switchgear And Control 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.

Significant judgements and estimates
The company is not subject to any significant judgements or estimates.

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 Control Panels and Switchgears 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 dispatch of the goods.

Interest receivable

Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

In respect of work in progress and finished goods, cost includes a relevant proportion of overheads
according to the stage of manufacture/completion.


SELECT SWITCHGEAR AND CONTROL LIMITED (REGISTERED NUMBER: 06216749)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

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.

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.

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

The company does not have any other basic financial instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 23 ) .

SELECT SWITCHGEAR AND CONTROL LIMITED (REGISTERED NUMBER: 06216749)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 4,834 118,839 16,694
Additions - 4,626 -
At 30 April 2024 4,834 123,465 16,694
DEPRECIATION
At 1 May 2023 4,656 91,821 15,895
Charge for year 46 10,609 427
At 30 April 2024 4,702 102,430 16,322
NET BOOK VALUE
At 30 April 2024 132 21,035 372
At 30 April 2023 178 27,018 799

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 53,955 22,181 216,503
Additions 32,567 1,832 39,025
At 30 April 2024 86,522 24,013 255,528
DEPRECIATION
At 1 May 2023 22,500 19,386 154,258
Charge for year 18,465 1,892 31,439
At 30 April 2024 40,965 21,278 185,697
NET BOOK VALUE
At 30 April 2024 45,557 2,735 69,831
At 30 April 2023 31,455 2,795 62,245

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,358,182 1,466,685
Other debtors 390 390
Prepayments 9,165 9,000
1,367,737 1,476,075

SELECT SWITCHGEAR AND CONTROL LIMITED (REGISTERED NUMBER: 06216749)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 919,364 884,696
Tax 274,456 193,908
Social security and other taxes 9,775 13,339
VAT 195,451 133,726
Other creditors 2,395 2,697
Accrued expenses 6,565 6,115
1,408,006 1,234,481

7. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £69,607 (2023: £108,125).