Seles Limited - Accounts

Registered number

07012230

Seles Limited

Annual Report and Audited Accounts

31 December 2024

Seles Limited
Report and accounts
Contents




Page

Company information	1
Directors' report	2
Independent auditor's report	4
Profit and loss account	7
Balance sheet	8
Statement of changes in equity	9
Notes to the accounts	10

Seles Limited

Company Information

Directors

Ryan Seligmann

Jean-Michel Chamonard (appointed 28 October 2024)

Fatah Boudjelida (appointed 28 October 2024)

Chafai Baihat (appointed 28 October 2024)

Auditors

UHY Hacker Young (S.E) Limited

168 Church Road

Hove

East Sussex

BN3 2DL

Registered office

2a Charing Cross Road

London

WC2H 0HF

Registered number

07012230

Seles Limited
Registered number:		07012230
Directors' Report

The directors present their report and accounts for the year ended 31 December 2024.

Directors
The following persons served as directors during the year:

	Ryan Seligmann
	Jean-Michel Chamonard (appointed 28 October 2024)
	Fatah Boudjelida (appointed 28 October 2024)
	Chafai Baihat (appointed 28 October 2024)

Statement of directors' responsibilities

The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.

Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


Disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 10 December 2025 and signed on its behalf.





Ryan Seligmann
Director

Seles Limited
Independent auditor's report
to the members of Seles Limited

Opinion

We have audited the accounts of Seles Limited (the 'company') for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and notes to the accounts, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the accounts:
●	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
●	have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In accordance with the exemption provided by FRC's Ethical Standard - Provisions Available for Audits of Small Entities, we have prepared and submitted the company’s returns to the tax authorities and assisted with the preparation of the accounts.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The other information comprises the information included in the annual report other than the accounts and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial stateemnts or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
●	the information given in the directors’ report for the financial year for which the accounts are prepared is consistent with the accounts; and
●	the directors’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
●	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
●	the financial statements are not in agreement with the accounting records and returns; or
●	certain disclosures of directors’ remuneration specified by law are not made; or
●	we have not received all the information and explanations we require for our audit; or
●	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the company which were contrary to applicable laws and regulations including fraud and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to inflated revenue and profit. Audit procedures performed included: review of the financial statement disclosures to underlying supporting documentation, review of correspondence with and reports to the regulators, enquiries of management and in so far as they related to the financial statements, and testing of journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the accounts is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Other matter
The financial statements of the Company for the year ended 31 December 2023 were not audited. Accordingly, the comparative information presented for that year has not been audited.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.



Rachel Taylor FCA
(Senior Statutory Auditor)		168 Church Road
for and on behalf of		Hove
UHY Hacker Young (S.E) Limited		East Sussex
Statutory Auditor		BN3 2DL
11 December 2025

Seles Limited
Profit and Loss Account
for the year ended 31 December 2024


		2024		2023
£			£

Turnover		3,482,069		3,333,079

Cost of sales		(7,117)		(103,829)

Gross profit		3,474,952		3,229,250

Administrative expenses		(3,154,884)		(3,032,039)

Operating profit	5	320,068		197,211

Interest receivable		579		154
Interest payable		(6,996)		(1,771)

Profit before taxation		313,651		195,594

Tax on profit		(80,170)		(43,646)

Profit for the financial year		233,481		151,948

Seles Limited
Registered number:		07012230
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	6		16,976			24,204

Current assets
Debtors	7	560,172			406,904
Cash at bank and in hand		471,524			431,170
		1,031,696			838,074

Creditors: amounts falling due within one year	8	(414,660)			(397,912)

Net current assets			617,036			440,162

Total assets less current liabilities			634,012			464,366

Creditors: amounts falling due after more than one year	9		(4,375)			(15,210)



Net assets			629,637			449,156

Capital and reserves
Called up share capital	10		100			100
Profit and loss account			629,537			449,056

Shareholders' funds			629,637			449,156

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS102 section 1A - Small Entities.
The financial statements were approved by the Board and authorised for issue on 10 December 2025 and were signed on its behalf by



Ryan Seligmann
Director

Company Registration No:07012230

Seles Limited
Statement of Changes in Equity
for the year ended 31 December 2024

Share		Profit		Total
capital		and loss
account
£		£		£

At 1 January 2023	100		345,108		345,208

Profit for the financial year			151,948		151,948

Dividends			(48,000)		(48,000)

At 31 December 2023	100		449,056		449,156



At 1 January 2024	100		449,056		449,156

Profit for the financial year			233,481		233,481

Dividends			(53,000)		(53,000)

At 31 December 2024	100		629,537		629,637

Seles Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Statutory information

	Seles Limited is a private company, limited by shares, registered in England and Wales, registration number 07012230. The registered office is 2a Charing Cross Road, London, WC2H 0HF.


2	Compliance with accounting standards

	The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 (FRS 102) Section 1A Small Entities issued by the Financial Reporting Council.


3	Accounting policies

	The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.

	Basis of preparation
	The accounts 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

	Presentation currency
	The accounts are presented in £ sterling.

	Turnover
	Turnover comprises revenue recognised by the company in respect of services supplied during the period, exclusive of Value Added Tax and trade discounts.

	Taxation
	Tax is recognised in the Profit and Loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income. Deferred taxation Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation. A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

	Tangible fixed assets
	Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

	Computer equipment	over 5 years

	Operating leases
	Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

	Financial instruments
	The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.


4	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		39		36


5	Operating profit		2024		2023
£				£

	Profit after tax is stated after charging
	Depreciation of tangible fixed assets		7,562		6,493
	Pension costs		48,949		38,449

6	Tangible fixed assets
					Computer equipment
£
	Cost
	At 1 January 2024				56,748
	Additions				335
	At 31 December 2024				57,083

	Depreciation
	At 1 January 2024				32,544
	Charge for the year				7,563
	At 31 December 2024				40,107

	Net book value
	At 31 December 2024				16,976
	At 31 December 2023				24,204


7	Debtors		2024		2023
£				£

	Trade debtors		468,728		358,691
	Accrued income and prepayments		27,946		15,622
	Other debtors		63,498		32,591
			560,172		406,904


8	Creditors: amounts falling due within one year		2024		2023
£				£

	Bank loans and overdrafts		37,543		9,700
	VAT		117,909		94,262
	Trade creditors		8,436		35,522
	Taxes and social security		80,170		44,362
	Loan from directors		134		7,478
	Accruals		106,300		140,052
	Other creditors		64,168		66,536
			414,660		397,912


9	Creditors: amounts falling due after one year		2024		2023
£				£

	Bank loans		4,375		15,210


10	Share Capital		2024		2023
£				£

	100 Ordinary £1 shares allotted, issued, and fully paid		100		100
			100		100


11	Operating lease commitments		2024		2023
£				£
	Within one year		185,400		182,700
	Between two and five years		92,700		92,700

			278,100		275,400
12	Immediate and ultimate controlling party

	The immediate parent company is Atoz Services S.A, a company registered in Luxembourg. No individual owns ultimately 25% or more of the Company or exercises control over the Company by any other mean either directly or indirectly. The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and republic of Ireland', not to disclose related part transactions with wholly owned subsidiaries within the group.