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REGISTERED NUMBER: 07417424 (England and Wales)















Select Credit Management Ltd

Unaudited Financial Statements

For The Year Ended

31st October 2024














Select Credit Management Ltd (Registered number: 07417424)

Contents of the Financial Statements
For The Year Ended 31st October 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 4


Select Credit Management Ltd (Registered number: 07417424)

Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 303 404

CURRENT ASSETS
Stocks 6 7,073 5,869
Debtors 7 70,177 53,945
Cash at bank 81,026 75,905
158,276 135,719
CREDITORS
Amounts falling due within one year 8 135,153 114,587
NET CURRENT ASSETS 23,123 21,132
TOTAL ASSETS LESS CURRENT LIABILITIES 23,426 21,536

CREDITORS
Amounts falling due after more than one year 9 14,925 17,855
NET ASSETS 8,501 3,681

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 8,401 3,581
SHAREHOLDERS' FUNDS 8,501 3,681

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th October 2025 and were signed by:





T Strowlger - Director


The notes form part of these financial statements

Page 1
Select Credit Management Ltd (Registered number: 07417424)

Notes to the Financial Statements
For The Year Ended 31st October 2024


1. STATUTORY INFORMATION

Select Credit Management Ltd 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: 07417424

Registered office: Riverside Business Centre
Riverside Road
Lowestoft
Suffolk
NR33 0TQ

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost
Office equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing 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.

Page 2 continued...
Select Credit Management Ltd (Registered number: 07417424)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2024


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 3 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1st November 2023
and 31st October 2024 13,500 3,735 17,235
DEPRECIATION
At 1st November 2023 13,500 3,331 16,831
Charge for year - 101 101
At 31st October 2024 13,500 3,432 16,932
NET BOOK VALUE
At 31st October 2024 - 303 303
At 31st October 2023 - 404 404

6. STOCKS
2024 2023
£    £   
Work-in-progress 7,073 5,869

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,727
Other debtors 70,177 52,218
70,177 53,945

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,788 2,788
Trade creditors 19,358 18,395
Taxation and social security 110,220 90,699
Other creditors 2,787 2,705
135,153 114,587

Page 3 continued...
Select Credit Management Ltd (Registered number: 07417424)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 14,925 17,855

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,772 6,702

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2024 and 31st October 2023:

2024 2023
£    £   
T Strowlger
Balance outstanding at start of year 42,219 42,216
Amounts advanced 70,431 16,039
Amounts repaid (57,955 ) (16,036 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 54,695 42,219

The company operates a loan with the director and interest is charged at the HMRC official rates on balances over £10,000. There are no set repayment terms.

Page 4