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REGISTERED NUMBER: 03250162 (England and Wales)














Financial Statements

for the Year Ended 30th September 2024

for

Selkirk Mechanical Handling Limited

Selkirk Mechanical Handling Limited (Registered number: 03250162)






Contents of the Financial Statements
for the year ended 30th September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Selkirk Mechanical Handling Limited

Company Information
for the year ended 30th September 2024







DIRECTORS: G.S. Selkirk
N Khan
R Harrison



SECRETARY: S.W. Lunt



REGISTERED OFFICE: Dairycoates Industrial Estate
Wiltshire Road
Hull
HU4 6PA



REGISTERED NUMBER: 03250162 (England and Wales)



AUDITORS: Sadofskys
Statutory Auditors
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: Lloyds Bank Plc
Hull Silver Street
Ariel House
2138 Coventry Road
Sheldon
B26 3JW



SOLICITORS: Gosschalks
Queens Gardens
Hull
HU1 3DZ

Selkirk Mechanical Handling Limited (Registered number: 03250162)

Balance Sheet
30th September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,038,854 7,133,337

CURRENT ASSETS
Stocks 94,682 123,185
Debtors 5 1,647,979 1,439,419
Cash at bank and in hand 199,874 181,147
1,942,535 1,743,751
CREDITORS
Amounts falling due within one year 6 1,937,788 1,714,365
NET CURRENT ASSETS 4,747 29,386
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,043,601

7,162,723

CREDITORS
Amounts falling due after more than one
year

7

(3,472,782

)

(3,116,217

)

PROVISIONS FOR LIABILITIES (1,026,985 ) (856,212 )
NET ASSETS 3,543,834 3,190,294

CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Share premium 5,000 5,000
Retained earnings 3,488,834 3,135,294
SHAREHOLDERS' FUNDS 3,543,834 3,190,294

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th February 2025 and were signed on its behalf by:





G.S. Selkirk - Director


Selkirk Mechanical Handling Limited (Registered number: 03250162)

Notes to the Financial Statements
for the year ended 30th September 2024

1. STATUTORY INFORMATION

Selkirk Mechanical Handling 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.

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


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 the amount derived from goods and services, and stated after trade discounts, other sales tax and net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance, straight line over 6 years, 10% to 50% on cost and straight line over 3 years

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.

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.

Selkirk Mechanical Handling Limited (Registered number: 03250162)

Notes to the Financial Statements - continued
for the year ended 30th September 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 20 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2023 10,291,254
Additions 2,414,781
Disposals (1,067,935 )
At 30th September 2024 11,638,100
DEPRECIATION
At 1st October 2023 3,157,917
Charge for year 1,210,058
Eliminated on disposal (768,729 )
At 30th September 2024 3,599,246
NET BOOK VALUE
At 30th September 2024 8,038,854
At 30th September 2023 7,133,337

The net book value of tangible fixed assets includes £ 6,666,423 (2023 - £ 5,927,740 ) in respect of assets held under hire purchase contracts.

Selkirk Mechanical Handling Limited (Registered number: 03250162)

Notes to the Financial Statements - continued
for the year ended 30th September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 432,604 479,813
Amounts owed by group undertakings 1,150,000 900,000
Other debtors 3,662 4,719
Prepayments 61,713 54,887
1,647,979 1,439,419

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 1,583,609 1,403,703
Trade creditors 179,256 130,933
Social security and other taxes 142,129 121,381
Other creditors 10,152 8,044
Accrued expenses 22,642 50,304
1,937,788 1,714,365

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 3,472,782 3,116,217

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 5,056,391 4,519,920

Hire purchase contracts are secured against the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50,000 Ordinary £1 50,000 50,000

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

The Report of the Auditors was unqualified.

Paul Drant (Senior Statutory Auditor)
for and on behalf of Sadofskys

Selkirk Mechanical Handling Limited (Registered number: 03250162)

Notes to the Financial Statements - continued
for the year ended 30th September 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed £Nil to G.S. Selkirk (2023 - £Nil).

During the year the company paid a commercial rent of £45,000 (2023 - £42,000) in respect of the property from which the company operates, of which G.S. Selkirk owns 50%.

12. RELATED PARTY DISCLOSURES

During the year the company paid fees of £21,000 (2023 - £28,000) in respect of consultancy services from N. Khan, N. Khan owns 42.5% of Selkirk Holdings Limited, the ultimate controlling party.


13. ULTIMATE CONTROLLING PARTY

The company's ultimate parent is Selkirk Holdings Limited, a company registered in England and Wales (Reg. No. 14550832).

14. ASSETS HELD FOR USE IN OPERATING LEASES

At the balance sheet date, the company held gross assets for use in operating leases of £10,989,417 (2022 - £7,291,494). The accumulated depreciation in respect of these assets is £3,268,531 (2022 - £1,363,754).