REGISTERED NUMBER: 02353074 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

SELECTEQUIP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

H E Spence

D L Ward

T McGovern

Secretary:

H E Spence

Registered office:

Unit 7 Britannia Way

Britannia Enterprise Park

Lichfield

Staffordshire

WS14 9UY

Registered number:

02353074 (England and Wales)

Accountants:

S&W Partners (Manchester) Limited

Accountants

Northern Assurance Buildings

9-21 Princess Street

Manchester

M2 4DN

Fixed assets

Tangible assets

5

318,589

415,445

Current assets

Stocks

530,136

613,906

Debtors

6

1,812,229

2,377,680

Cash at bank and in hand

116,083

19,415

2,458,448

3,011,001

Creditors

Amounts falling due within one year

7

1,485,680

1,992,511

Net current assets

972,768

1,018,490

Total assets less current liabilities

1,291,357

1,433,935

Creditors

Amounts falling due after more than one year

8

(249,825

)

(150,552

)

Provisions for liabilities

(72,371

)

(94,788

)

Net assets

969,161

1,188,595

Capital and reserves

Called up share capital

10

100,000

100,000

Retained earnings

869,161

1,088,595

Shareholders' funds

969,161

1,188,595

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2025 and were signed on its behalf by:

H E Spence - Director

1.	Statutory information

Selectequip 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.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

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.

Turnover represents goods supplied to customers and is recognised when these goods have been delivered to customers.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

10% straight line

Plant and machinery

-

20% straight line

Fixtures and fittings

-

33% straight line and 25% on reducing balance

Website

-

25% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4.	Employees and directors

The average number of employees during the year was 31 (2023 - 35 ) .

5.	Tangible fixed assets

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

Cost

At 1 January 2024

125,128

508,402

196,025

Additions

-

-

-

At 31 December 2024

125,128

508,402

196,025

Depreciation

At 1 January 2024

93,284

278,226

159,046

Charge for year

6,382

62,915

18,414

At 31 December 2024

99,666

341,141

177,460

Net book value

At 31 December 2024

25,462

167,261

18,565

At 31 December 2023

31,844

230,176

36,979

Motor

vehicles

Website

Totals

£

£

£

Cost

At 1 January 2024

127,561

86,472

1,043,588

Additions

-

30,000

30,000

At 31 December 2024

127,561

116,472

1,073,588

Depreciation

At 1 January 2024

16,386

81,201

628,143

Charge for year

29,652

9,493

126,856

At 31 December 2024

46,038

90,694

754,999

Net book value

At 31 December 2024

81,523

25,778

318,589

At 31 December 2023

111,175

5,271

415,445

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 January 2024

and 31 December 2024

73,013

20,329

118,588

211,930

Depreciation

At 1 January 2024

5,802

6,228

7,413

19,443

Charge for year

11,213

6,769

29,652

47,634

At 31 December 2024

17,015

12,997

37,065

67,077

Net book value

At 31 December 2024

55,998

7,332

81,523

144,853

At 31 December 2023

67,211

14,101

111,175

192,487

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

526,425

1,155,036

Amounts owed by group undertakings

1,233,152

1,162,662

Other debtors

52,652

59,982

1,812,229

2,377,680

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Hire purchase contracts

42,389

33,007

Trade creditors

700,018

782,706

Taxation and social security

101,726

152,483

Other creditors

641,547

1,024,315

1,485,680

1,992,511

Other creditors includes a short term loan of £445,284 (2023 - £621,501).

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Hire purchase contracts

106,530

123,790

Other creditors

143,295

26,762

249,825

150,552

9.	Secured debts

The following secured debts are included within creditors:

2024

2023

£

£

Short term loan

445,284

621,501

Hire purchase contracts

148,919

156,797

594,203

778,298

The short term loan is secured by a charge dated 20 November 2019 creating a fixed and floating charge over the assets of the company.

Obligations under finance lease and hire purchase contracts are secured on the assets concerned.

10.	Called up share capital

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,000

Ordinary

£1

10,000

10,000

90,000

Redeemable preference

£1

90,000

90,000

100,000

100,000

The redeemable preference shares are redeemable at the option of the company. They are redeemable at £1 per share and carry no voting rights. On a winding up of the company the holders of the shares have a right to receive par value in preference to the ordinary shares.

11.	Directors' advances, credits and guarantees

At the year end £0 (2023 - £7,000) was owed by one of the directors to the company. The advance is interest free and repayable on demand.

12.

Control

The company is controlled by Selectequip Holdings Limited by virtue of owning the entire issued share capital of the company. Selectequip Holdings Limited's registered office is the same as the company's.