REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 16 FEBRUARY 2023 TO 30 JUNE 2024 |
FOR |
SELECT ID LTD. |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 16 FEBRUARY 2023 TO 30 JUNE 2024 |
FOR |
SELECT ID LTD. |
SELECT ID LTD. (REGISTERED NUMBER: 14667856) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16 FEBRUARY 2023 TO 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SELECT ID LTD. |
COMPANY INFORMATION |
FOR THE PERIOD 16 FEBRUARY 2023 TO 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Statutory Auditors |
Spitfire House |
19 Falcon Court |
Preston Farm Industrial Estate |
Stockton-on-Tees |
TS18 3TU |
SELECT ID LTD. (REGISTERED NUMBER: 14667856) |
BALANCE SHEET |
30 JUNE 2024 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SELECT ID LTD. (REGISTERED NUMBER: 14667856) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16 FEBRUARY 2023 TO 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Select ID Ltd. is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial period end was extended from 28 February 2024 to 30 June 2024 to align with the group. |
Going concern |
In order to prepare the financial statements on the going concern basis, the Directors need to assess the financial stability of the company and its ability to meet its obligations and continue in business for the foreseeable future. |
The Directors have prepared budgets and forecasts which consider expected future cash flows for the Company. The forecasts are based on a number of key assumptions, including those relating to the availability of finance to fund the operations of the Company. Those forecasts indicate that further fundraising will need to be completed within the next twelve months in order to enable the Company to meet its liabilities as they fall due. |
The Directors of the Company remain confident that the Company will be able to secure the required funding through equity fundraise or other sources. However, the timing and availability of funding is not confirmed. The assumption that the Company will successfully complete further fundraising therefore represents a material uncertainty which casts significant doubt over the company's ability to continue as a going concern. |
Whilst noting the material uncertainty above, the Directors of the Company continue to adopt the going concern basis in preparing the financial statements. The financial statements do not include any adjustments that would result from the going concern basis of preparation being inappropriate. |
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. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 ID LTD. (REGISTERED NUMBER: 14667856) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 FEBRUARY 2023 TO 30 JUNE 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 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
At 30 June 2024 |
AMORTISATION |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Social security and other taxes |
VAT |
Deferred income |
Accrued expenses |
SELECT ID LTD. (REGISTERED NUMBER: 14667856) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 FEBRUARY 2023 TO 30 JUNE 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Amounts owed to group undertakings |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | ULTIMATE CONTROLLING PARTY |
The immediate parent company is TISA Commercial Enterprises Limited, a company incorporated in England and Wales. |
The Ultimate Parent company is The Investing and Saving Alliance ('TISA'), a company incorporated in England and Wales. The parent is a not for profit membership organisation, limited by guarantee and under the control of the board of Director's who represent the members.The financial statements of The Investing and Saving Alliance are available from Companies House, Crown Way, Cardiff, CF14 3UZ . |