Secol Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00618710

Secol Limited

Unaudited financial statements

28 February 2025

Secol Limited

Statement of financial position

28 February 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		336,650		331,989

Current assets

Stocks		334,465	458,560
Debtors	6	1,872,784	1,524,097
Cash at bank and in hand		431,002	582,980
		-----------	-----------
		2,638,251	2,565,637

Creditors: Amounts falling due within one year	7	( 186,574)		( 89,182)
		-----------		-----------
Net current assets			2,451,677		2,476,455
			-----------		-----------
Total assets less current liabilities			2,788,327		2,808,444

Provisions

Taxation including deferred tax	360	( 2,516)
	-----------	-----------
Net assets	2,788,687	2,805,928
	-----------	-----------

Capital and reserves

Called up share capital	80,000	80,000
Profit and loss account	2,708,687	2,725,928
	-----------	-----------
Shareholders funds	2,788,687	2,805,928
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 26 November 2025 , and are signed on behalf of the board by:

P D C Green
Director

Company registration number: 00618710

Secol Limited

Notes to the financial statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13-16 Howlett Way, Thetford, Norfolk, IP24 1HZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and Buildings	-	1% straight line
Plant & Machinery	-	28% reducing balance
Motor Vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. A provision is made for slow moving and obsolete stock.

4. Employee numbers

The average number of employees during the year was 8 (2024: 8 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 March 2024	405,480	1,328,463	40,500	1,774,443
Additions	–	–	29,844	29,844
Disposals	–	–	( 40,500)	( 40,500)
	---------	-----------	-------	-----------
At 28 February 2025	405,480	1,328,463	29,844	1,763,787
	---------	-----------	-------	-----------
Depreciation
At 1 March 2024	99,538	1,310,563	32,353	1,442,454
Charge for the year	2,199	12,352	2,487	17,038
Disposals	–	–	( 32,355)	( 32,355)
	---------	-----------	-------	-----------
At 28 February 2025	101,737	1,322,915	2,485	1,427,137
	---------	-----------	-------	-----------
Carrying amount
At 28 February 2025	303,743	5,548	27,359	336,650
	---------	-----------	-------	-----------
At 29 February 2024	305,942	17,900	8,147	331,989
	---------	-----------	-------	-----------

6. Debtors

	2025	2024
	£	£
Trade debtors	99,101	65,824
Other debtors	1,773,683	1,458,273
	-----------	-----------
	1,872,784	1,524,097
	-----------	-----------

The debtors above include the following amounts falling due after more than one year:

	2025	2024
	£	£
Other debtors	377,227	273,887
	---------	---------

7. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Trade creditors	30,168	7,294
Social security and other taxes	123,181	63,764
Other creditors	33,225	18,124
	---------	-------
	186,574	89,182
	---------	-------

8. Director's advances, credits and guarantees

Included within debtors at the year end is a directors loan account of £1,190,943 (2024: £884,749). The maximum overdrawn balance during the year was £1,190,943 (2024: £884,749). Interest of £23,092 (2024: £20,494) was charged at the official rate.