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REGISTERED NUMBER: 04789526 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

SELECT INTERIORS (SOUTHERN) LIMITED

SELECT INTERIORS (SOUTHERN) LIMITED (REGISTERED NUMBER: 04789526)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SELECT INTERIORS (SOUTHERN) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: P A Biss
Mrs K Biss





SECRETARY: Mrs K Biss





REGISTERED OFFICE: 18 High West Street
Dorchester
Dorset
DT1 1UW





REGISTERED NUMBER: 04789526 (England and Wales)





ACCOUNTANTS: Pugsley Revill
18 High West Street
Dorchester
Dorset
DT1 1UW

SELECT INTERIORS (SOUTHERN) LIMITED (REGISTERED NUMBER: 04789526)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 425,021 459,997
425,021 459,997

CURRENT ASSETS
Stocks and work in progress 306,569 154,086
Debtors 6 626,771 519,226
Cash at bank 348,726 409,551
1,282,066 1,082,863
CREDITORS
Amounts falling due within one year 7 640,465 598,450
NET CURRENT ASSETS 641,601 484,413
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,066,622

944,410

CREDITORS
Amounts falling due after more than one
year

8

(68,609

)

(168,458

)

PROVISIONS FOR LIABILITIES 10 (99,115 ) (112,916 )
NET ASSETS 898,898 663,036

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 898,698 662,836
SHAREHOLDERS' FUNDS 898,898 663,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SELECT INTERIORS (SOUTHERN) LIMITED (REGISTERED NUMBER: 04789526)

BALANCE SHEET - continued
30 JUNE 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 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 25 March 2025 and were signed on its behalf by:




Mrs K Biss - Director



P A Biss - Director


SELECT INTERIORS (SOUTHERN) LIMITED (REGISTERED NUMBER: 04789526)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Select Interiors (Southern) 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 2003, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Showroom display units - 20% on cost
Plant & equipment - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office and computer equipment - 25% on reducing balance

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due
allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate
proportion of fixed and variable overheads and in the case of work in progress a proportion of attributable profit.

Taxation
Taxation for the year 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 INTERIORS (SOUTHERN) LIMITED (REGISTERED NUMBER: 04789526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 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 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
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.

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 24 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 62,000
AMORTISATION
At 1 July 2023
and 30 June 2024 62,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

SELECT INTERIORS (SOUTHERN) LIMITED (REGISTERED NUMBER: 04789526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Showroom Fixtures
display Plant & and
units equipment fittings
£    £    £   
COST
At 1 July 2023 139,585 779,497 240,897
Additions 19,000 21,780 -
Disposals (5,000 ) - -
At 30 June 2024 153,585 801,277 240,897
DEPRECIATION
At 1 July 2023 97,277 511,639 153,794
Charge for year 30,717 57,928 13,065
Eliminated on disposal (3,689 ) - -
At 30 June 2024 124,305 569,567 166,859
NET BOOK VALUE
At 30 June 2024 29,280 231,710 74,038
At 30 June 2023 42,308 267,858 87,103

Office
and
Motor computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 142,318 77,756 1,380,053
Additions 45,500 708 86,988
Disposals - - (5,000 )
At 30 June 2024 187,818 78,464 1,462,041
DEPRECIATION
At 1 July 2023 93,348 63,998 920,056
Charge for year 15,326 3,617 120,653
Eliminated on disposal - - (3,689 )
At 30 June 2024 108,674 67,615 1,037,020
NET BOOK VALUE
At 30 June 2024 79,144 10,849 425,021
At 30 June 2023 48,970 13,758 459,997

SELECT INTERIORS (SOUTHERN) LIMITED (REGISTERED NUMBER: 04789526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant & Motor
equipment vehicles Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 280,265 52,310 332,575
DEPRECIATION
At 1 July 2023 82,211 18,827 101,038
Charge for year 39,611 8,371 47,982
At 30 June 2024 121,822 27,198 149,020
NET BOOK VALUE
At 30 June 2024 158,443 25,112 183,555
At 30 June 2023 198,054 33,483 231,537

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 606,232 475,174
Other debtors 20,539 44,052
626,771 519,226

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 49,849 56,375
Trade creditors 185,890 158,923
Taxation and social security 245,918 139,944
Other creditors 108,808 193,208
640,465 598,450

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 45,833 95,833
Hire purchase contracts 22,776 72,625
68,609 168,458

SELECT INTERIORS (SOUTHERN) LIMITED (REGISTERED NUMBER: 04789526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 95,833 145,833
Hire purchase contracts 72,625 129,000
168,458 274,833

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 99,115 112,916

Deferred
tax
£   
Balance at 1 July 2023 112,916
Credit to Statement of Income and Retained Earnings during year (13,801 )
Balance at 30 June 2024 99,115

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary A £1 200 200

12. TRANSACTIONS WITH DIRECTORS

The company trades from premises owned by the directors, Mr.and Mrs.Biss, and during the year rent of £123,552 (2023 - £123,552) was paid to them by the company. No sum was owing at 30th June 2024 (2023 - £Nil).