REGISTERED NUMBER: 05413346 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

FOR

SELECT ENTERPRISES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Kalsi

Mrs B Kalsi

SECRETARY:

Mrs B Kalsi

REGISTERED OFFICE:

Select House

14a Eastwood Close

South Woodford

London

E18 1BX

REGISTERED NUMBER:

05413346 (England and Wales)

ACCOUNTANTS:

ESW Chartered Accountants

162-164 High Street

Rayleigh

Essex

SS6 7BS

FIXED ASSETS

Investment property

4

68,867,796

64,795,000

CURRENT ASSETS

Debtors

5

26,538

38,394

Cash at bank

3,228,081

12

3,254,619

38,406

CREDITORS

Amounts falling due within one year

6

(1,102,989

)

(2,143,099

)

NET CURRENT ASSETS/(LIABILITIES)

2,151,630

(2,104,693

)

TOTAL ASSETS LESS CURRENT LIABILITIES

71,019,426

62,690,307

CREDITORS

Amounts falling due after more than one year

7

(26,959,387

)

(19,761,143

)

PROVISIONS FOR LIABILITIES

9

(9,434,435

)

(9,434,435

)

NET ASSETS

34,625,604

33,494,729

CAPITAL AND RESERVES

Called up share capital

10

2

2

Fair value reserve

11

28,303,305

28,303,305

Retained earnings

11

6,322,297

5,191,422

SHAREHOLDERS' FUNDS

34,625,604

33,494,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd June 2026 and were signed on its behalf by:

S Kalsi - Director

Mrs B Kalsi - Director

1.	STATUTORY INFORMATION

Select Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements 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 the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2025

64,795,000

Additions

4,072,796

At 31st December 2025

68,867,796

NET BOOK VALUE

At 31st December 2025

68,867,796

At 31st December 2024

64,795,000

Fair value at 31st December 2025 is represented by:

£

Valuation in 2024

37,737,739

Cost

31,130,057

68,867,796

Investment properties were valued on a fully equipped trading entities basis or turnkey basis, where the occupying trading entity wasn't fully established, on 25th September 2025 and 30th June 2023 respectively by Gerald Eve LLP.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

5,000

-

Other debtors

21,538

38,394

26,538

38,394

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

1,088,500

1,884,599

Other creditors

14,489

258,500

1,102,989

2,143,099

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

16,759,387

11,457,143

Other creditors

10,200,000

8,304,000

26,959,387

19,761,143

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

17,847,887

12,357,143

Bank loans are secured by way of legal mortgages over the properties to which they relate.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

9,434,435

9,434,435

Deferred

tax

£

Balance at 1st January 2025

9,434,435

Balance at 31st December 2025

9,434,435

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1st January 2025

5,191,422

28,303,305

33,494,727

Profit for the year

1,130,875

1,130,875

At 31st December 2025

6,322,297

28,303,305

34,625,602

12.	RELATED PARTY DISCLOSURES

During the period the company entered into the following transactions with related parties:

Loans from related parties

Party

2025

2024

Relationship

£

£

Blueberry Enterprises Ltd

6,720,000

5,358,000

Common officers

Select Enterprises (South East) Ltd

3,480,000

2,946,000

Common officers

Rental income includes charges to companies with common officers:

Party

2025

2024

Relationship

£

£

Blueberry Enterprises Ltd

1,050,000

625,000

Common officers

Select Enterprises (South East) Ltd

1,200,000

850,000

Common officers

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Select Enterprises Properties Limited.