REGISTERED NUMBER: 10952447 (England and Wales)

Audited Financial Statements

for the Year Ended 31 December 2024

for

S1E Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

6

475,482

297,283

CURRENT ASSETS

Stocks

7

1,501,032

1,366,944

Debtors

8

1,028,339

788,751

Cash at bank and in hand

420,667

316,663

2,950,038

2,472,358

CREDITORS

Amounts falling due within one year

9

(2,757,905

)

(2,394,885

)

NET CURRENT ASSETS

192,133

77,473

TOTAL ASSETS LESS CURRENT LIABILITIES

667,615

374,756

PROVISIONS FOR LIABILITIES

(108,235

)

(59,918

)

NET ASSETS

559,380

314,838

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

559,280

314,738

SHAREHOLDERS' FUNDS

559,380

314,838

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 30 September 2025 and were signed on its behalf by:

Mr A J Williams - Director

1.	STATUTORY INFORMATION

S1E Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

10952447

Registered office:

Endeavour Works

Newlands way

Valley Park

Wombwell

Barnsley

S73 0UW

The presentation currency of the financial statements is the Pound Sterling (£).

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

Sale of goods

Turnover is recognised at the fair value of the consideration received or receivable, excluding trade discounts, settlement discounts and volume rebates, for sale of goods and is shown net of VAT and other sales related taxes.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

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

Plant and machinery

-

10% on cost

Fixtures and fittings

-

33% on cost, 25% on cost and 20% on cost

Motor vehicles

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Taxation

Taxation for the year 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.

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.

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.

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 21 (2023 - 19 ) .

5.	AUDITORS' REMUNERATION

31.12.24

31.12.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

9,996

10,375

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

352,909

31,345

3,978

388,232

Additions

72,001

179,661

-

251,662

Disposals

(2,930

)

-

-

(2,930

)

At 31 December 2024

421,980

211,006

3,978

636,964

DEPRECIATION

At 1 January 2024

76,877

12,879

1,193

90,949

Charge for year

41,488

29,379

398

71,265

Eliminated on disposal

(732

)

-

-

(732

)

At 31 December 2024

117,633

42,258

1,591

161,482

NET BOOK VALUE

At 31 December 2024

304,347

168,748

2,387

475,482

At 31 December 2023

276,032

18,466

2,785

297,283

7.

STOCKS

31.12.24

31.12.23

£

£

Stocks

1,426,244

1,366,944

Stock in transit

74,788

-

1,501,032

1,366,944

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

893,940

620,282

Amounts owed by group undertakings

533

5,772

Other debtors

55,209

2,206

Prepayments and accrued income

78,657

160,491

1,028,339

788,751

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

948,742

757,756

Amounts owed to group undertakings

1,575,355

1,520,726

Corporation tax

(14,921

)

133

Social security and other taxes

21,024

27,074

VAT

18,655

28,620

Accruals and deferred income

209,050

60,576

2,757,905

2,394,885

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

100

100

100

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Melissa Bowers FCCA (Senior Statutory Auditor)

for and on behalf of Harts Limited

12.	OTHER FINANCIAL COMMITMENTS

A charge has been created over all the property or undertaking of the company in March 2021 in favour of The Royal Bank of Scotland Plc for duty and custom clearance account for a maximum liability of up to £120,000, payable on demand. The charge was active when the financial statements were approved and authorised for issue.

13.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Fernco Limited. Their registered office is at Endeavour Works, Newlands Way, Valley Park, Wombwell, Barnsley, S73 0UW. The parent company will be preparing consolidated accounts.

Fernco Limited is a 100% owned subsidiary of Fernco Inc, registered in USA.