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REGISTERED NUMBER: 02988507 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST APRIL 2023 TO 31ST JANUARY 2024

FOR

SELECT ENTERPRISES (SOUTH EAST) LIMITED

SELECT ENTERPRISES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 02988507)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST APRIL 2023 TO 31ST JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SELECT ENTERPRISES (SOUTH EAST) LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1ST APRIL 2023 TO 31ST JANUARY 2024







DIRECTORS: S Kalsi
Mrs B Kalsi





SECRETARY: Mrs B Kalsi





REGISTERED OFFICE: Select House
14a Eastwood Close
South Woodford
London
E18 1BX





REGISTERED NUMBER: 02988507 (England and Wales)





ACCOUNTANTS: ESW Chartered Accountants
162-164 High Street
Rayleigh
Essex
SS6 7BS

SELECT ENTERPRISES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 02988507)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 726,825 860,215

CURRENT ASSETS
Stocks 7,500 7,500
Debtors 5 3,023,345 3,331,150
Cash at bank and in hand 348,528 101,033
3,379,373 3,439,683
CREDITORS
Amounts falling due within one year 6 (1,425,923 ) (1,550,449 )
NET CURRENT ASSETS 1,953,450 1,889,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,680,275

2,749,449

PROVISIONS FOR LIABILITIES 8 (141,576 ) (167,814 )
NET ASSETS 2,538,699 2,581,635

CAPITAL AND RESERVES
Called up share capital 9 25,000 25,000
Retained earnings 10 2,513,699 2,556,635
SHAREHOLDERS' FUNDS 2,538,699 2,581,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st January 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 ENTERPRISES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 02988507)

BALANCE SHEET - continued
31ST JANUARY 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 16th September 2024 and were signed on its behalf by:




S Kalsi - Director



Mrs B Kalsi - Director


SELECT ENTERPRISES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 02988507)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST APRIL 2023 TO 31ST JANUARY 2024

1. STATUTORY INFORMATION

Select Enterprises (South East) 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.
Freehold property - 2.5% on cost
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% 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.

SELECT ENTERPRISES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 02988507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST APRIL 2023 TO 31ST JANUARY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the period 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.


SELECT ENTERPRISES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 02988507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST APRIL 2023 TO 31ST JANUARY 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 163 (2023 - 159 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1st April 2023 385,884 2,430,723 299,758 3,116,365
Additions - 60,591 - 60,591
At 31st January 2024 385,884 2,491,314 299,758 3,176,956
DEPRECIATION
At 1st April 2023 157,551 1,957,882 140,717 2,256,150
Charge for period 8,039 152,809 33,133 193,981
At 31st January 2024 165,590 2,110,691 173,850 2,450,131
NET BOOK VALUE
At 31st January 2024 220,294 380,623 125,908 726,825
At 31st March 2023 228,333 472,841 159,041 860,215

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 257,986 8,083
Other debtors 2,765,359 3,323,067
3,023,345 3,331,150

SELECT ENTERPRISES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 02988507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST APRIL 2023 TO 31ST JANUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 357,306 433,347
Taxation and social security 141,083 188,336
Other creditors 927,534 928,766
1,425,923 1,550,449

7. SECURED DEBTS

The company has a banking facility secured by a fixed and floating charge secured over all assets of the company dated 26 November 2012.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 141,576 167,814

Deferred
tax
£   
Balance at 1st April 2023 167,814
Accelerated capital allowances (26,238 )
Balance at 31st January 2024 141,576

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
25,000 Ordinary £1 25,000 25,000

10. RESERVES
Retained
earnings
£   

At 1st April 2023 2,556,635
Profit for the period 77,064
Dividends (120,000 )
At 31st January 2024 2,513,699

SELECT ENTERPRISES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 02988507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST APRIL 2023 TO 31ST JANUARY 2024

11. RELATED PARTY DISCLOSURES

During the period the company entered into the following transactions with related parties:

Loans to related parties

Party 2024 2023 Relationship
£ £
Select Enterprises Ltd 2,729,805 3,306,065 Common officers and control
Select Enterprises (Holdings) Ltd - 2 Common officers

Rental costs includes charges from companies with common officers and control.

Party 2024 2023 Relationship
£ £
Select Enterprises Ltd 246,667 320,000 Common officers and control

Expenses includes recharges to companies with common officers and control.

Party 2024 2023 Relationship
£ £
Blueberry Enterprises Ltd 325,000 - Common officers and control

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Select Enterprises Trading Limited.