Registration number: 04441557

Select Electrics Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Statement of Changes in Equity	4
Notes to the Unaudited Financial Statements	5 to 10

Select Electrics Limited

Company Information

Director

Mr Andrew John Price

Company secretary

Mr Andrew John Price

Registered office

2 Charnwood House Marsh Road Ashton Bristol BS3 2NA

Accountants

Stone & Co Chartered Accountants 2 Charnwood House Marsh Road Ashton Bristol BS3 2NA

Select Electrics Limited

(Registration number: 04441557)
Balance Sheet as at 31 May 2025

	Note	2025 £		2024 £
Fixed assets
Tangible assets	4		251,899	227,222
Investment property	5		100,000	260,000
			351,899	487,222
Current assets
Stocks	6	191,099		39,037
Debtors	7	484,700		347,436
Cash at bank and in hand		366,978		610,380
		1,042,777		996,853
Creditors: Amounts falling due within one year	8	(392,695)		(251,576)
Net current assets			650,082	745,277
Total assets less current liabilities			1,001,981	1,232,499
Creditors: Amounts falling due after more than one year	8		(175,513)	-
Provisions for liabilities			(69,040)	(102,673)
Net assets			757,428	1,129,826
Capital and reserves
Called up share capital		3		6
Capital redemption reserve		6		3
Retained earnings		757,419		1,129,817
Shareholders' funds			757,428	1,129,826

Select Electrics Limited

(Registration number: 04441557)
Balance Sheet as at 31 May 2025

For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 November 2025
 

.........................................

Mr Andrew John Price
Company secretary and director

Select Electrics Limited

Statement of Changes in Equity for the Year Ended 31 May 2025

	Share capital £	Capital redemption reserve £	Retained earnings £	Total £
At 1 June 2024	6	3	1,129,817	1,129,826
Profit for the year	-	-	130,728	130,728
Dividends	-	-	(103,126)	(103,126)
Purchase of own share capital	(3)	-	(400,000)	(400,003)
Other capital redemption reserve movements	-	3	-	3
At 31 May 2025	3	6	757,419	757,428

	Share capital £	Capital redemption reserve £	Retained earnings £	Total £
At 1 June 2023	9	3	1,562,518	1,562,530
Profit for the year	-	-	281,272	281,272
Dividends	-	-	(261,723)	(261,723)
Purchase of own share capital	(3)	-	(452,250)	(452,253)
At 31 May 2024	6	3	1,129,817	1,129,826

Select Electrics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA
United Kingdom

These financial statements were authorised for issue by the director on 3 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Select Electrics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance
Plant and machinery	25% reducing balance
Office equipment	25% reducing balance
Fixtures and fittings	25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Select Electrics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Select Electrics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 28 (2024 - 27).

Select Electrics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

4	Tangible assets

	Long leasehold land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 June 2024	1,080	18,387	102,167	44,195	451,829	617,658
Additions	-	-	5,257	2,688	118,430	126,375
Disposals	-	-	-	-	(98,963)	(98,963)
At 31 May 2025	1,080	18,387	107,424	46,883	471,296	645,070
Depreciation
At 1 June 2024	385	18,200	69,658	35,195	266,998	390,436
Charge for the year	22	75	8,315	2,506	49,335	60,253
Eliminated on disposal	-	-	-	-	(57,518)	(57,518)
At 31 May 2025	407	18,275	77,973	37,701	258,815	393,171
Carrying amount
At 31 May 2025	673	112	29,451	9,182	212,481	251,899
At 31 May 2024	695	187	32,509	9,000	184,831	227,222

Included within the net book value of land and buildings above is £673 (2024 - £695) in respect of long leasehold land and buildings.
 

5	Investment properties

	2025 £
At 1 June	100,000
At 31 May	100,000

There has been no valuation of investment property by an independent valuer.

Select Electrics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

6

Stocks

	2025 £	2024 £
Work in progress	181,099	29,037
Other inventories	10,000	10,000
	191,099	39,037

7

Debtors

Current	2025 £	2024 £
Trade debtors	481,975	333,092
Prepayments	2,625	2,783
Other debtors	100	11,561
	484,700	347,436

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		49,890	-
Trade creditors		185,439	57,032
Taxation and social security		127,870	156,970
Accruals and deferred income		25,131	33,744
Other creditors		4,365	3,830
		392,695	251,576