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Registered number: 08262779
Selcuk Holdings Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
JENNIFER M RICHARDSON LIMITED
32 Station Road
Rainham
Gillingham
Kent
ME8 7PH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08262779
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,050,000 3,189,150
Investments 5 1 1
3,050,001 3,189,151
CURRENT ASSETS
Debtors 6 4,269 10,308
Cash at bank and in hand 48,940 86,198
53,209 96,506
Creditors: Amounts Falling Due Within One Year 7 (446,731 ) (441,412 )
NET CURRENT ASSETS (LIABILITIES) (393,522 ) (344,906 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,656,479 2,844,245
Creditors: Amounts Falling Due After More Than One Year 8 (1,865,460 ) (1,865,460 )
NET ASSETS 791,019 978,785
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Revaluation reserve 11 767,739 906,889
Profit and Loss Account 22,280 70,896
SHAREHOLDERS' FUNDS 791,019 978,785
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Engin Selcuk
Director
12/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Selcuk Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08262779 . The registered office is Norwood Cottage, Eastchurch Road, Eastchurch, Sheerness, Kent, ME12 4HP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold
£
Cost or Valuation
As at 1 November 2023 3,277,500
Revaluation (139,150 )
As at 31 October 2024 3,138,350
Depreciation
As at 1 November 2023 88,350
As at 31 October 2024 88,350
Net Book Value
As at 31 October 2024 3,050,000
As at 1 November 2023 3,189,150
5. Investments
Unlisted
£
Cost
As at 1 November 2023 1
As at 31 October 2024 1
Provision
As at 1 November 2023 -
As at 31 October 2024 -
Net Book Value
As at 31 October 2024 1
As at 1 November 2023 1
Shares in Group Undertakings 
ES Property Management Limited - 100% of Ordinary Shares 
Registered office: Norwood Cottage, Eastchurch Road, Sheerness ME12 4JX
Nature of business: Property Rental and Management
31.10.2023
Aggregate capital and reserves £15,115.
Profit for the year £6,337.
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Page 5
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 2,347 4,865
Amounts owed by subsidiaries 1,922 5,443
4,269 10,308
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors (1 ) -
Director's loan account 446,732 441,412
446,731 441,412
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,865,460 1,865,460
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 37,000 37,000
11. Reserves
Revaluation Reserve
£
As at 1 November 2023 906,889
Deficit on revaluation (139,150)
As at 31 October 2024 767,739
12. Related Party Transactions
During the year the Company charged ES Property Management Ltd (a wholly owned subsidiary) £95,000 (2023, £90,000) in respect of property licences. At 31.10.2022 the subsidiary owed Selcuk Holdings Ltd £1922 (2023 £4492 ))
13. Ultimate Controlling Party
The company's ultimate controlling party is Mr Engin Selcuk by virtue of his ownership of 100% of the issued share capital in the company.
Page 5