Select Surveys Limited

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2—4

1. General Information

Select Surveys Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04424414 . The registered office is The Head Office, Ivanhoe Office Park, Ashby de la Zouch, Leicestershire, LE65 2AB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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.

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.

2.4. 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:

Plant & Machinery	25% on cost
Fixtures & Fittings	12.5% on cost

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.6. Financial Instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at

transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured

at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless

the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value

of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

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Select Surveys Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 37 (2024: 45)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 April 2024	948,288	811	949,099
Additions	35,820	375	36,195
Disposals	(13,195 )	-	(13,195 )

As at 31 March 2025	970,913	1,186	972,099

Depreciation
As at 1 April 2024	768,042	716	768,758
Provided during the period	87,743	103	87,846
Disposals	(9,072 )	-	(9,072 )

As at 31 March 2025	846,713	819	847,532

Net Book Value
As at 31 March 2025	124,200	367	124,567

As at 1 April 2024	180,246	95	180,341

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Select Surveys Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Debtors

	31 March 2025	31 March 2024
	£	£
Due within one year
Trade debtors	1,278,395	644,085
Other debtors	1,788,331	2,013,879

	3,066,726	2,657,964

6. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 March 2024
	£	£
Trade creditors	322,636	227,692
Other creditors	764,686	177,081
Taxation and social security	216,568	417,701

	1,303,890	822,474

7. Share Capital

	31 March 2025	31 March 2024
	£	£
Allotted, Called up and fully paid	2	2

8. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	31 March 2025	31 March 2024
	£	£
Not later than one year	224,907	136,338
Later than one year and not later than five years	163,210	69,698

	388,117	206,036

9. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

10. Audit Information

The auditor's report on the accounts of Select Surveys Limited for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by Paul Orton FCA FCCA (Senior Statutory Auditor) for and on behalf of Magma Audit LLP (part of the Dains Group) Chartered Accountant , Statutory Auditor.

Magma Audit LLP (part of the Dains Group) Chartered Accountant

Unit 2, Charnwood Edge Business Park

Syston Road

Leicestershire

LE7 4UZ

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		31 March 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		124,567		180,341

			124,567		180,341
CURRENT ASSETS
Debtors	5	3,066,726		2,657,964
Cash at bank and in hand		559,637		302,933

		3,626,363		2,960,897
Creditors: Amounts Falling Due Within One Year	6	(1,303,890 )		(822,474 )

NET CURRENT ASSETS (LIABILITIES)			2,322,473		2,138,423

TOTAL ASSETS LESS CURRENT LIABILITIES			2,447,040		2,318,764

PROVISIONS FOR LIABILITIES
Deferred Taxation			(29,777 )		(29,777 )

NET ASSETS			2,417,263		2,288,987

CAPITAL AND RESERVES
Called up share capital	7		2		2
Income Statement			2,417,261		2,288,985

SHAREHOLDERS' FUNDS			2,417,263		2,288,987