Registration number: 02964471

Select Products Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 11

Select Products Limited

Company Information

Directors

Christopher Charles Price Mrs Sarah Price

Registered office

Kings Arms Vaults Watton Brecon Powys LD3 7EF

Accountants

King Morter Proud & Co Limited Chartered Accountants Kings Arms Vaults Watton Brecon Powys LD3 7EF

Select Products Limited

(Registration number: 02964471)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	235,000	258,500
Tangible assets	5	5,660,844	1,761,360
		5,895,844	2,019,860
Current assets
Stocks	6	295,671	111,687
Debtors	7	895,706	791,365
Cash at bank and in hand		840,142	3,778,154
		2,031,519	4,681,206
Creditors: Amounts falling due within one year	8	(1,757,059)	(1,319,960)
Net current assets		274,460	3,361,246
Total assets less current liabilities		6,170,304	5,381,106
Creditors: Amounts falling due after more than one year	8	306	306
Provisions for liabilities		(284,244)	(269,375)
Net assets		5,886,366	5,112,037
Capital and reserves
Called up share capital	9	100,000	100,000
Revaluation reserve		91,441	91,441
Retained earnings		5,694,925	4,920,596
Shareholders' funds		5,886,366	5,112,037

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

Directors' 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 directors acknowledge their 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.

Select Products Limited

(Registration number: 02964471)
Balance Sheet as at 31 August 2025

Approved and authorised by the Board on 18 May 2026 and signed on its behalf by:
 

......................................... Christopher Charles Price Director

Select Products Limited

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

1	General information

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

The address of its registered office is:
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

These financial statements were authorised for issue by the Board on 18 May 2026.

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 Products Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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
Land and buildings freehold	at 2% per annum on building cost
Plant & machinery	at 10% per annum on cost
Fixtures, fittings and office equipment	at 10% per annum on cost
Commercial motor vehicles	at 15% per annum on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Over 20 years

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.

Select Products Limited

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

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.

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.

Select Products Limited

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

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.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2024 - 19).

Select Products Limited

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

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 September 2024	470,000	470,000
At 31 August 2025	470,000	470,000
Amortisation
At 1 September 2024	211,500	211,500
Amortisation charge	23,500	23,500
At 31 August 2025	235,000	235,000
Carrying amount
At 31 August 2025	235,000	235,000
At 31 August 2024	258,500	258,500

5	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £
Cost or valuation
At 1 September 2024	772,697	21,685	2,649,758	213,166
Additions	3,837,358	-	177,195	141,146
Disposals	-	-	-	(87,800)
At 31 August 2025	4,610,055	21,685	2,826,953	266,512
Depreciation
At 1 September 2024	56,080	13,844	1,713,652	112,370
Charge for the year	-	2,168	193,218	39,977
Eliminated on disposal	-	-	-	(66,948)
At 31 August 2025	56,080	16,012	1,906,870	85,399
Carrying amount
At 31 August 2025	4,553,975	5,673	920,083	181,113
At 31 August 2024	716,617	7,841	936,106	100,796

Select Products Limited

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

	Total £
Cost or valuation
At 1 September 2024	3,657,306
Additions	4,155,699
Disposals	(87,800)
At 31 August 2025	7,725,205
Depreciation
At 1 September 2024	1,895,946
Charge for the year	235,363
Eliminated on disposal	(66,948)
At 31 August 2025	2,064,361
Carrying amount
At 31 August 2025	5,660,844
At 31 August 2024	1,761,360

Included within the net book value of land and buildings above is £4,553,975 (2024 - £716,617) in respect of freehold land and buildings.
 

6

Stocks

	2025 £	2024 £
Raw materials and consumables	190,931	-
Other inventories	104,740	111,687
	295,671	111,687

7

Debtors

Current	2025 £	2024 £
Trade debtors	800,672	789,872
Other debtors	95,034	1,493
	895,706	791,365

Select Products Limited

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

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	5,169	9,299
Trade creditors		752,782	361,208
Taxation and social security		534,212	697,064
Accruals and deferred income		14,082	18,639
Other creditors		450,814	233,750
		1,757,059	1,319,960

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	(306)	(306)

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100,000	100,000	100,000	100,000

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	(306)	(306)

Current loans and borrowings

	2025 £	2024 £
Bank overdrafts	-	9,299
Hire purchase contracts	5,169	-
	5,169	9,299

Select Products Limited

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

11

Dividends

		2025		2024
		£		£
Interim dividend of £88,000.00 (2024 - £95,000.00) paid		88,000		95,000