SEL Ventures Limited Filleted accounts for Companies House (small and micro)

SEL VENTURES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09543270

SEL Ventures Limited

Filleted Unaudited Financial Statements

30 April 2019

SEL Ventures Limited

Statement of Financial Position

30 April 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	4	561,016	136,745
Investments	5	20,004	4
		---------	---------
		581,020	136,749

Current assets

Debtors	6	32,445	844
Cash at bank and in hand		287,399	508,798
		---------	---------
		319,844	509,642

Creditors: amounts falling due within one year	7	48,486		1,469
		---------		---------
Net current assets			271,358	508,173
			---------	---------
Total assets less current liabilities			852,378	644,922
			---------	---------
Net assets			852,378	644,922
			---------	---------

SEL Ventures Limited

Statement of Financial Position (continued)

30 April 2019

	2019		2018
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	852,278	644,822
	---------	---------
Shareholders funds	852,378	644,922
	---------	---------

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 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 statement of income and retained earnings has not been delivered.

For the year ending 30 April 2019 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their 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 20 November 2019 , and are signed on behalf of the board by:

Mr D J Doig

Director

Company registration number: 09543270

SEL Ventures Limited

Notes to the Financial Statements

Year ended 30 April 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Moss End Business Village, Crooklands, Milnthorpe, Cumbria, LA7 7NU.

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 and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires the use of estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Any estimate that has a degree of uncertainty or where judgements has been exercised in a particular area is expressly disclosed within the relevant accounting policy.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

4. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1 May 2018	136,745	–	136,745
Additions	317,673	106,598	424,271
	---------	---------	---------
At 30 April 2019	454,418	106,598	561,016
	---------	---------	---------
Depreciation
At 1 May 2018 and 30 April 2019	–	–	–
	---------	---------	---------
Carrying amount
At 30 April 2019	454,418	106,598	561,016
	---------	---------	---------
At 30 April 2018	136,745	–	136,745
	---------	---------	---------

Land and buildings are in the course of development and are included at cost in the financial statements at cost. In the opinion of the directors, the cost of the company's land and buildings is not materially different to their fair value.

5. Investments

	Other investments other than loans	Other loans	Total
	£	£	£
Cost
At 1 May 2018	4	–	4
Additions	–	20,000	20,000
	----	--------	--------
At 30 April 2019	4	20,000	20,004
	----	--------	--------
Impairment
At 1 May 2018 and 30 April 2019	–	–	–
	----	--------	--------

Carrying amount
At 30 April 2019	4	20,000	20,004
	----	--------	--------
At 30 April 2018	4	–	4
	----	--------	--------

6. Debtors

	2019	2018
	£	£
Other debtors	32,445	844
	--------	----

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	46,383	1,019
Other creditors	2,103	450
	--------	-------
	48,486	1,469
	--------	-------