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REGISTERED NUMBER: 06351624 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

SELSTONE LTD

SELSTONE LTD (REGISTERED NUMBER: 06351624)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 9


SELSTONE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: Mr I R Wills





REGISTERED OFFICE: First Floor North
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE





REGISTERED NUMBER: 06351624 (England and Wales)





ACCOUNTANTS: Seymour Taylor Limited
First Floor North
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SELSTONE LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Selstone Ltd for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Selstone Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Selstone Ltd and state those matters that we have agreed to state to the director of Selstone Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Selstone Ltd and its director for our work or for this report.

It is your duty to ensure that Selstone Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Selstone Ltd. You consider that Selstone Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Selstone Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Seymour Taylor Limited
First Floor North
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE


18 December 2024

SELSTONE LTD (REGISTERED NUMBER: 06351624)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 409,417 380,510

CURRENT ASSETS
Debtors 5 144,627 247,177
Cash at bank and in hand 1,770,499 1,307,332
1,915,126 1,554,509
CREDITORS
Amounts falling due within one year 6 329,334 234,275
NET CURRENT ASSETS 1,585,792 1,320,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,995,209

1,700,744

PROVISIONS FOR LIABILITIES 72,223 79,382
NET ASSETS 1,922,986 1,621,362

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,922,886 1,621,262
SHAREHOLDERS' FUNDS 1,922,986 1,621,362

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

SELSTONE LTD (REGISTERED NUMBER: 06351624)

BALANCE SHEET - continued
31 AUGUST 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 18 December 2024 and were signed by:





Mr I R Wills - Director


SELSTONE LTD (REGISTERED NUMBER: 06351624)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Selstone Limited is a private company, limited by shares, registered in England and Wales. The address of the company's registered office is First Floor North, 40 Oxford Road, High Wycombe, Buckinghamshire, HP11 2EE. The principal place of business is Thimble Hall, Westwell Leacon, Charing, Kent, TN27 0EN. The registered number is 06351624.

The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The director has assessed expected future cashflows, giving due consideration to all relevant factors affecting the company. The director has considered the potential impact on the company as well as its capital resources and believes that the company has adequate resources in place to continue in operation for at least twelve months from the date of approval of the financial statements. Consequently, the company continues to adopt the going concern basis in preparing these financial statements.

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
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life:

Improvements to property-straight line - 10%
Plant and machinery-straight line - 25%
Fixtures and fittings-reducing balance - 25%
Motor vehicles-straight line - 25%
Computer equipment-straight line - 25%


SELSTONE LTD (REGISTERED NUMBER: 06351624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued
Taxation
Tax on the profit or loss 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 directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the statement of financial position date, and any adjustment to tax payable in respect of previous years.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed asset, if and when all conditions for retaining the tax allowances have been met, are not provided for. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the statement of financial position date. Deferred tax balances are not discounted.

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
Assets acquired and held under finance lease or hire purchase contracts are capitalised in the statement of financial position. Those held under finance leases are depreciated over the shorter of the lease term and the estimated useful life of the asset. Those held under hire purchase contracts are depreciated over the estimated useful life of the asset.

Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligation, exclusive of finances charges allocated to future periods, is recognised as a liability with the finance element charged to the income statement over the relevant period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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.

Grants
Grants received are credited to the profit and loss account as the related expenditure is incurred.

SELSTONE LTD (REGISTERED NUMBER: 06351624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instrument Issues" of FRS 102 to its financial statements.

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the statement of financial position. Finance costs and gains or losses relating to financial liabilities are included in the income statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 32 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2023 93,559 418,172 132,577
Additions 2,945 750 11,089
Disposals - - (28,710 )
At 31 August 2024 96,504 418,922 114,956
DEPRECIATION
At 1 September 2023 58,528 268,672 91,232
Charge for year 9,618 63,257 10,747
Eliminated on disposal - - (24,437 )
At 31 August 2024 68,146 331,929 77,542
NET BOOK VALUE
At 31 August 2024 28,358 86,993 37,414
At 31 August 2023 35,031 149,500 41,345

SELSTONE LTD (REGISTERED NUMBER: 06351624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 247,966 115,372 1,007,646
Additions 270,930 3,901 289,615
Disposals (175,578 ) (63,288 ) (267,576 )
At 31 August 2024 343,318 55,985 1,029,685
DEPRECIATION
At 1 September 2023 120,294 88,410 627,136
Charge for year 60,282 13,657 157,561
Eliminated on disposal (76,843 ) (63,149 ) (164,429 )
At 31 August 2024 103,733 38,918 620,268
NET BOOK VALUE
At 31 August 2024 239,585 17,067 409,417
At 31 August 2023 127,672 26,962 380,510

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,400 58,992
Amounts owed by group undertakings 694 2,391
Other debtors 107,533 185,794
144,627 247,177

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 82,214 25,992
Amounts owed to group undertakings 13,434 10,254
Taxation and social security 156,326 118,128
Other creditors 77,360 79,901
329,334 234,275

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 143,817 149,817
Between one and five years 395,868 409,780
In more than five years 220,167 90,376
759,852 649,973

SELSTONE LTD (REGISTERED NUMBER: 06351624)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares 100 100 100

9. RELATED PARTY DISCLOSURES

Included within other creditors is a balance amounting to £13,434 (2023: £10,254) due to a company in which the directors of the company are also directors and shareholders. There are no fixed repayment terms and no interest is chargeable to the company is respect of this balance.

At the year end there is a loan amounting to £nil (2023: £100,000) due from a company in which the director is a family member of a director in Selstone Limited.