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REGISTERED NUMBER: 00260445 (England and Wales)


















AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 29 JANUARY 2023 TO 27 JANUARY 2024

FOR

SELBYS (HOLLOWAY) LTD

SELBYS (HOLLOWAY) LTD (REGISTERED NUMBER: 00260445)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 JANUARY 2023 TO 27 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SELBYS (HOLLOWAY) LTD

COMPANY INFORMATION
FOR THE PERIOD 29 JANUARY 2023 TO 27 JANUARY 2024







DIRECTORS: B H Dreesmann
N C C Blow


SECRETARY: T James


REGISTERED OFFICE: 472-488 Brixton Road
Brixton
London
SW9 8EH


REGISTERED NUMBER: 00260445 (England and Wales)


SENIOR STATUTORY AUDITOR: Andrew Green LLB FCA


AUDITORS: THP Limited
Chartered Accountants
and Statutory Auditors
34-40 High Street
Wanstead
London
E11 2RJ


BANKERS: Barclays Bank plc
Clapham Common Group
83 Wandsworth High Street
London
SW18 2PR

SELBYS (HOLLOWAY) LTD (REGISTERED NUMBER: 00260445)

BALANCE SHEET
27 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 359,576 163,519

CURRENT ASSETS
Stocks 1,504,198 1,476,503
Debtors 6 64,719 56,914
Cash at bank 438,172 555,080
2,007,089 2,088,497
CREDITORS
Amounts falling due within one year 7 1,521,802 1,285,200
NET CURRENT ASSETS 485,287 803,297
TOTAL ASSETS LESS CURRENT
LIABILITIES

844,863

966,816

PROVISIONS FOR LIABILITIES 41,624 4,326
NET ASSETS 803,239 962,490

CAPITAL AND RESERVES
Called up share capital 45,000 45,000
Share premium account 15,300 15,300
Retained earnings 742,939 902,190
SHAREHOLDERS' FUNDS 803,239 962,490

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 9 July 2024 and were signed on its behalf by:





N C C Blow - Director


SELBYS (HOLLOWAY) LTD (REGISTERED NUMBER: 00260445)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 JANUARY 2023 TO 27 JANUARY 2024


1. STATUTORY INFORMATION

Selbys (Holloway) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and value added taxes.

Sales of goods are recognised on sale to the customer, which is considered to be the point of sale or delivery and when the significant risks and rewards of the goods have been passed to the customer.

Tangible fixed assets
Tangible Fixed Assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost of Tangible Fixed Assets, less their estimated residual value, over their estimated useful lives at the following rates:

Fixtures & Fittings- 15% - 16.67% on cost
Equipment- 15% - 16.67% on cost
Computer Equipment- 33% on cost

Fixtures and Fittings over 15 years old and Equipment over 10 years old are eliminated from fixed assets, except in instances where they are known to be still in use.

Items costing less than £500 are not capitalised but written off to the Profit and Loss Account as incurred.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for impairment of obsolete or slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on an average cost basis. Cost includes the purchase price, including taxes and duties, transport and all other costs directly attributable to bringing the stock to its present location and condition.

Financial instruments
The Company has chosen to adopt Sections 11 and 12 of FRS102 in respect of financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently carried at this value less any provision for impairment.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet represent cash at bank and in hand.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit or loss under operating expenses.

The carrying value of all short-term financial assets and liabilities are measured at amortised cost.


SELBYS (HOLLOWAY) LTD (REGISTERED NUMBER: 00260445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 JANUARY 2023 TO 27 JANUARY 2024


3. ACCOUNTING POLICIES - continued
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.

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.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits
The company provides a range of benefits to employees, including paid holiday arrangements and a group personal pension plan.

(i) Short Term Benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

(ii) Group Personal Pension Plan

The company operates a group personal pension plan for its employees. This is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown as a creditor on the balance sheet. The assets of the scheme are held separately from the company in independently administered funds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 77 (2023 - 81 ) .

5. TANGIBLE FIXED ASSETS
Fixtures Computer
Equipment & fittings equipment Totals
£    £    £    £   
COST
At 29 January 2023 34,903 1,839,293 174,369 2,048,565
Additions 141,036 159,960 6,510 307,506
Disposals (2,995 ) (740,259 ) (935 ) (744,189 )
At 27 January 2024 172,944 1,258,994 179,944 1,611,882
DEPRECIATION
At 29 January 2023 23,297 1,711,079 150,670 1,885,046
Charge for period 26,280 64,776 20,393 111,449
Eliminated on disposal (2,995 ) (740,259 ) (935 ) (744,189 )
At 27 January 2024 46,582 1,035,596 170,128 1,252,306
NET BOOK VALUE
At 27 January 2024 126,362 223,398 9,816 359,576
At 28 January 2023 11,606 128,214 23,699 163,519

SELBYS (HOLLOWAY) LTD (REGISTERED NUMBER: 00260445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 JANUARY 2023 TO 27 JANUARY 2024


5. TANGIBLE FIXED ASSETS - continued

The disposals arise primarily from the elimination of:

Fixtures and fittings - over 15 years old
Computers and Equipment - over 10 years old


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,863 15,341
Prepayments 43,856 41,573
64,719 56,914

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 313,890 487,332
Corporation tax - 37,191
Amount due to group companies 983,382 489,504
Accrued expenses 224,530 271,173
1,521,802 1,285,200

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 9,245 12,611
Between one and five years 661 10,081
9,906 22,692

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Green LLB FCA (Senior Statutory Auditor)
for and on behalf of THP Limited

10. CONTINGENT LIABILITIES

The Company had no contingent liabilities at 27 January 2024 (2023 - £Nil) other than in respect of a cross guarantee in the form of a charge over the Company's assets, to the favour of the Group's principal Bankers, covering all borrowing and overdrafts by the group from those bankers. At the period end there were no net group borrowings from the principal Bankers.

11. ULTIMATE CONTROLLING PARTY

The Company is a wholly owned subsidiary of Morleys Department Stores Limited. The ultimate parent company is Morleys Stores Limited, a company incorporated in England & Wales. Details of the ultimate controlling party can be found in the accounts of Morleys Stores Limited.

A copy of the group consolidated accounts may be obtained from Companies House.