Selina Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01709169 (England and Wales)

Unaudited Financial Statements

for the Year Ended 29 February 2020

for

SELINA INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

I L Shearer

Registered office:

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

Registered number:

01709169 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

Fixed assets

Tangible assets

4

-

-

Investments

5

-

-

Investment property

6

900,000

900,000

900,000

900,000

Current assets

Debtors

7

729,789

662,447

Cash at bank

74,660

46,155

804,449

708,602

Creditors

Amounts falling due within one year

8

158,680

139,162

Net current assets

645,769

569,440

Total assets less current liabilities

1,545,769

1,469,440

Capital and reserves

Called up share capital

9

100

100

Revaluation reserve

10

507,214

507,214

Retained earnings

1,038,455

962,126

Shareholders' funds

1,545,769

1,469,440

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 August 2020 and were signed by:

I L Shearer - Director

1.	Statutory information

Selina Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried

out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate

as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried

out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as

possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is

carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as

accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately

prove to be uncollectable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party

to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 (2019 - NIL).

4.	Tangible fixed assets

Plant and

machinery

£

Cost

At 1 March 2019

and 29 February 2020

12,946

Depreciation

At 1 March 2019

and 29 February 2020

12,946

Net book value

At 29 February 2020

-

At 28 February 2019

-

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 March 2019

and 29 February 2020

351,236

Provisions

At 1 March 2019

and 29 February 2020

351,236

Net book value

At 29 February 2020

-

At 28 February 2019

-

6.	Investment property

Total

£

Fair value

At 1 March 2019

and 29 February 2020

900,000

Net book value

At 29 February 2020

900,000

At 28 February 2019

900,000

7.

Debtors: amounts falling due within one year

2020

2019

£

£

Trade debtors

8,058

18,557

Amounts owed by associates

3,444

-

Other debtors

718,287

643,890

729,789

662,447

8.

Creditors: amounts falling due within one year

2020

2019

£

£

Trade creditors

10,283

8,509

Amounts owed to associates

100,419

60,419

Taxation and social security

17,904

-

Other creditors

30,074

70,234

158,680

139,162

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

200

Ordinary A

25p

50

50

200

Ordinary B

25p

50

50

100

100

10.

Reserves

Revaluation

reserve

£

At 1 March 2019

and 29 February 2020

507,214

11.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 29 February 2020 and

28 February 2019:

2020

2019

£

£

I L Shearer

Balance outstanding at start of year

-

-

Amounts advanced

73,884

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

73,884

-