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REGISTERED NUMBER: 05413346 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST FEBRUARY 2024 TO 31ST DECEMBER 2024

FOR

SELECT ENTERPRISES LIMITED

SELECT ENTERPRISES LIMITED (REGISTERED NUMBER: 05413346)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST FEBRUARY 2024 TO 31ST DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SELECT ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1ST FEBRUARY 2024 TO 31ST DECEMBER 2024







DIRECTORS: S Kalsi
Mrs B Kalsi





SECRETARY: Mrs B Kalsi





REGISTERED OFFICE: Select House
14a Eastwood Close
South Woodford
London
E18 1BX





REGISTERED NUMBER: 05413346 (England and Wales)





ACCOUNTANTS: ESW Chartered Accountants
162-164 High Street
Rayleigh
Essex
SS6 7BS

SELECT ENTERPRISES LIMITED (REGISTERED NUMBER: 05413346)

BALANCE SHEET
31ST DECEMBER 2024

2024 2024
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 21,326,652
Investment property 5 64,795,000 -
64,795,000 21,326,652

CURRENT ASSETS
Debtors 6 38,394 259,912
Cash at bank 12 3,066,267
38,406 3,326,179
CREDITORS
Amounts falling due within one year 7 (2,143,099 ) (1,144,002 )
NET CURRENT (LIABILITIES)/ASSETS (2,104,693 ) 2,182,177
TOTAL ASSETS LESS CURRENT
LIABILITIES

62,690,307

23,508,829

CREDITORS
Amounts falling due after more than one
year

8

(19,761,143

)

(18,942,801

)

PROVISIONS FOR LIABILITIES 10 (9,434,435 ) -
NET ASSETS 33,494,729 4,566,028

CAPITAL AND RESERVES
Called up share capital 11 2 2
Fair value reserve 12 28,303,305 -
Retained earnings 12 5,191,422 4,566,026
SHAREHOLDERS' FUNDS 33,494,729 4,566,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st December 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 ENTERPRISES LIMITED (REGISTERED NUMBER: 05413346)

BALANCE SHEET - continued
31ST DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th April 2025 and were signed on its behalf by:




S Kalsi - Director



Mrs B Kalsi - Director


SELECT ENTERPRISES LIMITED (REGISTERED NUMBER: 05413346)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST FEBRUARY 2024 TO 31ST DECEMBER 2024

1. STATUTORY INFORMATION

Select Enterprises 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

SELECT ENTERPRISES LIMITED (REGISTERED NUMBER: 05413346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST FEBRUARY 2024 TO 31ST DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the period 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.


SELECT ENTERPRISES LIMITED (REGISTERED NUMBER: 05413346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST FEBRUARY 2024 TO 31ST DECEMBER 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2024 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1st February 2024 21,684,034
Additions 5,730,608
Reclassification/transfer (27,414,642 )
At 31st December 2024 -
DEPRECIATION
At 1st February 2024 357,382
Reclassification/transfer (357,382 )
At 31st December 2024 -
NET BOOK VALUE
At 31st December 2024 -
At 31st January 2024 21,326,652

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 37,737,739
Reclassification/transfer 27,057,261
At 31st December 2024 64,795,000
NET BOOK VALUE
At 31st December 2024 64,795,000

SELECT ENTERPRISES LIMITED (REGISTERED NUMBER: 05413346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST FEBRUARY 2024 TO 31ST DECEMBER 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31st December 2024 is represented by:
£   
Valuation in 2024 37,737,739
Cost 27,057,261
64,795,000

Investment properties were valued on a fully equipped trading entities basis or turnkey basis, where the occupying trading entity wasn't fully established, on 25th September 2025 and 30th June 2023 respectively by Gerald Eve LLP.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Other debtors 38,394 259,912

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Bank loans and overdrafts 1,884,599 900,000
Trade creditors - 1,502
Other creditors 258,500 242,500
2,143,099 1,144,002

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2024
£    £   
Bank loans 11,457,143 11,507,550
Other creditors 8,304,000 7,435,251
19,761,143 18,942,801

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2024
£    £   
Bank loans 12,357,143 12,407,550

Bank loans are secured by way of legal mortgages over the properties to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2024
£    £   
Deferred tax 9,434,435 -

SELECT ENTERPRISES LIMITED (REGISTERED NUMBER: 05413346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST FEBRUARY 2024 TO 31ST DECEMBER 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Provided during period 9,434,435
Balance at 31st December 2024 9,434,435

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2024
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1st February 2024 4,566,026 - 4,566,026
Profit for the period 28,928,701 28,928,701
Non-distributable movement (28,303,305 ) 28,303,305 -
At 31st December 2024 5,191,422 28,303,305 33,494,727

13. RELATED PARTY DISCLOSURES

During the period the company entered into the following transactions with related parties:

Loans from related parties

December January
Party 2024 2024 Relationship
£ £
Blueberry Enterprises Ltd 5,358,000 4,705,446 Common officers
Select Enterprises (South East) Ltd 2,946,000 2,729,805 Common officers

Rental income includes charges to companies with common officers:

December January
Party 2024 2024 Relationship
£ £
Blueberry Enterprises Ltd 625,000 250,000 Common officers
Select Enterprises (South East) Ltd 850,000 300,000 Common officers

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Select Enterprises Properties Limited.