REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30th September 2024 |
for |
Selkirk Mechanical Handling Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Princes House |
Wright Street |
Hull |
East Yorkshire |
HU2 8HX |
BANKERS: |
Hull Silver Street |
Ariel House |
2138 Coventry Road |
Sheldon |
B26 3JW |
SOLICITORS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st October 2023 |
Additions |
Disposals | ( |
) |
At 30th September 2024 |
DEPRECIATION |
At 1st October 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 30th September 2023 |
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 |
Amounts owed by group undertakings |
Other debtors |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Social security and other taxes |
Other creditors |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
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: | £ | £ |
Ordinary | £1 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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). |