Select 1st LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: OC411245

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		4,228		7,028

			4,228		7,028
CURRENT ASSETS
Debtors	6	153,048		134,486
Cash at bank and in hand		133,183		190,934

		286,231		325,420
Creditors: Amounts Falling Due Within One Year	7	(110,158 )		(183,768 )

NET CURRENT ASSETS (LIABILITIES)			176,073		141,652

TOTAL ASSETS LESS CURRENT LIABILITIES			180,301		148,680

NET ASSETS ATTRIBUTABLE TO MEMBERS			180,301		148,680

REPRESENTED BY:
Loans and other debts due to members
Other amounts		180,301		148,680

			180,301		148,680

			180,301		148,680

TOTAL MEMBERS' INTEREST
Loans and other debts due to members			180,301		148,680

			180,301		148,680

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Select 1st LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Myles Hazebroek

Designated Member

11th July 2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Select 1st LLP is a limited liability partnership, incorporated in England & Wales, registered number OC411245 . The Registered Office is Rectory House, Main Street, Beckley, East Sussex, TN31 6RS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

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:

Motor Vehicles	25% SL
Fixtures & Fittings	33% SL
Computer Equipment	33% SL

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Select 1st LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 2 (2024: 1)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 April 2024	28,421	24,744	53,165
Additions	-	1,020	1,020

As at 31 March 2025	28,421	25,764	54,185

Depreciation
As at 1 April 2024	28,421	17,716	46,137
Provided during the period	-	3,820	3,820

As at 31 March 2025	28,421	21,536	49,957

Net Book Value
As at 31 March 2025	-	4,228	4,228

As at 1 April 2024	-	7,028	7,028

5. Stocks

	2025		2024
	£		£

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	140,578	124,182
Other debtors	12,470	10,304

	153,048	134,486

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	21,865	50,183
Other creditors	73,465	122,266
Taxation and social security	14,828	11,319

	110,158	183,768

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