S1E Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10952447 (England and Wales)

Financial Statements

for the Period 1 October 2020 to 31 December 2021

for

S1E Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

5

176,696

-

CURRENT ASSETS

Stocks

1,056,130

-

Debtors

6

694,319

100

Cash at bank and in hand

218,562

-

1,969,011

100

CREDITORS

Amounts falling due within one year

7

(1,955,101

)

-

NET CURRENT ASSETS

13,910

100

TOTAL ASSETS LESS CURRENT LIABILITIES

190,606

100

PROVISIONS FOR LIABILITIES

(17,253

)

-

NET ASSETS

173,353

100

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

173,253

-

SHAREHOLDERS' FUNDS

173,353

100

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 19 July 2022 and were signed on its behalf by:

Mr A J Williams - Director

1.	STATUTORY INFORMATION

S1E Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

10952447

Registered office:

Endeavour Works

Newlands way

Valley Park

Wombwell

Barnsley

S73 0UW

The current reporting period has been lengthened to a 15 month period to align with a restructure of the business. The full reporting period is 1 October 2020 to 31 December 2021.

Due to this change, the prior year comparatives are not entirely comparable.

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 recognised when the company obtains the right to consideration.

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

-

10% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period 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 period 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 16 (2020 - NIL ) .

4.	AUDITORS' REMUNERATION

Period

1.10.20

to

Year Ended

31.12.21

30.9.20

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

12,500

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

Additions

186,748

11,719

3,978

202,445

Disposals

(6,957

)

-

-

(6,957

)

At 31 December 2021

179,791

11,719

3,978

195,488

DEPRECIATION

Charge for period

15,464

2,930

398

18,792

At 31 December 2021

15,464

2,930

398

18,792

NET BOOK VALUE

At 31 December 2021

164,327

8,789

3,580

176,696

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

30.9.20

£

£

Trade debtors

573,636

-

Other debtors

120,683

100

694,319

100

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

30.9.20

£

£

Trade creditors

311,403

-

Amounts owed to group undertakings

1,355,356

-

Taxation and social security

179,099

-

Other creditors

109,243

-

1,955,101

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

30.9.20

value:

£

£

100

Ordinary

100

100

100

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Melissa Bowers FCCA (Senior Statutory Auditor)

for and on behalf of Harts Limited

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Flex-Seal Couplings Limited. Their registered office is at Endeavour Works, Newlands Way, Valley Park, Wombwell, Barnsley, S73 0UW. The parent company will be preparing consolidated accounts.

Flex-Seal Couplings Limited is a 100% owned subsidiary of Fernco Inc.