Seltrust Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02055597 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Seltrust Associates Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M L Ferguson

G A Ferguson

SECRETARY:

Mrs M L Ferguson

REGISTERED OFFICE:

7 Walsingham Close

Rainham

Kent

ME8 9SJ

REGISTERED NUMBER:

02055597 (England and Wales)

ACCOUNTANTS:

Mackay & Co

Chartered Accountants

Unit 8

Golspie Business Park

Golspie

Sutherland

KW10 6UB

FIXED ASSETS

Tangible assets

4

286,420

288,603

CURRENT ASSETS

Debtors

65

9,250

CREDITORS

Amounts falling due within one year

91,282

95,334

NET CURRENT LIABILITIES

(91,217

)

(86,084

)

TOTAL ASSETS LESS CURRENT LIABILITIES

195,203

202,519

CREDITORS

Amounts falling due after more than one year

5

(68,985

)

(74,314

)

PROVISIONS FOR LIABILITIES

(3,240

)

(3,610

)

NET ASSETS

122,978

124,595

CAPITAL AND RESERVES

Called up share capital

400

400

Retained earnings

122,578

124,195

SHAREHOLDERS' FUNDS

122,978

124,595

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 January 2021 and were signed on its behalf by:

G A Ferguson - Director

1.	STATUTORY INFORMATION

Seltrust Associates 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

15% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

354,965

Additions

1,015

At 31 March 2020

355,980

DEPRECIATION

At 1 April 2019

66,362

Charge for year

3,198

At 31 March 2020

69,560

NET BOOK VALUE

At 31 March 2020

286,420

At 31 March 2019

288,603

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2019

714

Transfer to ownership

(714

)

At 31 March 2020

-

DEPRECIATION

At 1 April 2019

341

Transfer to ownership

(341

)

At 31 March 2020

-

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

373

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.20

31.3.19

£

£

Repayable by instalments

Bank loans more 5 yr by instal

33,308

38,637