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REGISTERED NUMBER: 02755075 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

SELTECH ENGINEERING PRODUCTS LIMITED

SELTECH ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02755075)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SELTECH ENGINEERING PRODUCTS LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTOR: Mr Clive Carter





REGISTERED OFFICE: Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY





REGISTERED NUMBER: 02755075 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

SELTECH ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02755075)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,100
Tangible assets 5 19,647 27,579
19,647 28,679

CURRENT ASSETS
Stocks 413,537 429,903
Debtors 6 116,441 140,650
Cash at bank 257,288 209,947
787,266 780,500
CREDITORS
Amounts falling due within one year 7 97,676 155,580
NET CURRENT ASSETS 689,590 624,920
TOTAL ASSETS LESS CURRENT
LIABILITIES

709,237

653,599

PROVISIONS FOR LIABILITIES 2,591 3,174
NET ASSETS 706,646 650,425

CAPITAL AND RESERVES
Called up share capital 74 74
Capital redemption reserve 26 26
Retained earnings 706,546 650,325
SHAREHOLDERS' FUNDS 706,646 650,425

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SELTECH ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02755075)

BALANCE SHEET - continued
31 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 director and authorised for issue on 30 October 2024 and were signed by:





Mr Clive Carter - Director


SELTECH ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02755075)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Seltech Engineering Products 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

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.


SELTECH ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02755075)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023 11,100
Disposals (1,100 )
At 31 January 2024 10,000
AMORTISATION
At 1 February 2023
and 31 January 2024 10,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 1,100

SELTECH ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02755075)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2023 1,574 20,187 30,243
Additions - 2,165 -
Disposals - (2,087 ) (8,137 )
At 31 January 2024 1,574 20,265 22,106
DEPRECIATION
At 1 February 2023 - 10,147 28,776
Charge for year 787 3,051 1,254
Eliminated on disposal - (2,072 ) (8,080 )
At 31 January 2024 787 11,126 21,950
NET BOOK VALUE
At 31 January 2024 787 9,139 156
At 31 January 2023 1,574 10,040 1,467

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 29,914 27,388 109,306
Additions - 607 2,772
Disposals (2,124 ) (12,027 ) (24,375 )
At 31 January 2024 27,790 15,968 87,703
DEPRECIATION
At 1 February 2023 20,468 22,336 81,727
Charge for year 2,362 1,886 9,340
Eliminated on disposal (937 ) (11,922 ) (23,011 )
At 31 January 2024 21,893 12,300 68,056
NET BOOK VALUE
At 31 January 2024 5,897 3,668 19,647
At 31 January 2023 9,446 5,052 27,579

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 101,034 113,171
Other debtors 15,407 27,479
116,441 140,650

SELTECH ENGINEERING PRODUCTS LIMITED (REGISTERED NUMBER: 02755075)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 74,124 142,613
Taxation and social security 19,503 392
Other creditors 4,049 12,575
97,676 155,580

8. RELATED PARTY DISCLOSURES

During the year, the director’s current account became overdrawn, the maximum amount and the year end balance was £206 (2023: £114 creditor). This has subsequently cleared.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr Clive Carter.