Company registration number 14907749 (England and Wales)
SELAH139 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
SELAH139 LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SELAH139 LIMITED
BALANCE SHEET
- 1 -
2024
Notes
£
FIXED ASSETS
Investments
3
88,000
CURRENT ASSETS
Debtors
4
19,753
Cash at bank and in hand
25,178
44,931
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5
(92,739)
NET CURRENT LIABILITIES
(47,808)
NET ASSETS
40,192
CAPITAL AND RESERVES
Called up share capital
100
Profit and loss reserves
40,092
TOTAL EQUITY
40,192
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SELAH139 LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 March 2025
Mr M Jackson
Director
Company registration number 14907749 (England and Wales)
SELAH139 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
ACCOUNTING POLICIES
Company information
Selah139 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 43 Wenallt Road, Rhiwbina, CARDIFF, CF14 6SB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
SELAH139 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
ACCOUNTING POLICIES
(Continued)
- 4 -
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
EMPLOYEES
The average monthly number of persons (including directors) employed by the company during the year was:
2024
Number
Total
1
SELAH139 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
3
FIXED ASSET INVESTMENTS
2024
£
Shares in group undertakings and participating interests
88,000
MOVEMENTS IN FIXED ASSET INVESTMENTS
Shares in subsidiaries
£
Cost or valuation
At 1 July 2023
-
Additions
88,000
At 30 June 2024
88,000
Carrying amount
At 30 June 2024
88,000
The company has a 2% interest in S.A. Partners LLP. S.A. Partners LLP head office is: Second Floor, Y Borth, 13 Beddau Way, Castlegate Business Park, Caerphilly, CF83 2AX.
A copy of S.A. Partners LLP accounts can be obtained from the Registrar of Companies.
4
DEBTORS
2024
Amounts falling due within one year:
£
Trade debtors
189
Other debtors
19,564
19,753
5
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Corporation tax
25,402
Other creditors
67,337
92,739
SELAH139 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
6
RELATED PARTY TRANSACTIONS
During the year the company received profit shares of £115,097 and recharged expenditure of £990 from and to an entity related by common directors.
Included within other debtors is £5,342 due from an entity related by common directors.
7
DIRECTORS' TRANSACTIONS
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director
-
-
65,311
(51,089)
14,222
-
65,311
(51,089)
14,222