Company Registration No. 04953181 (England and Wales)
SELVEDGE LIMITED
Unaudited accounts
for the year ended 30 November 2021
SELVEDGE LIMITED
Unaudited accounts
Contents
SELVEDGE LIMITED
Company Information
for the year ended 30 November 2021
Company Number
04953181 (England and Wales)
Registered Office
14 MILTON PARK
LONDON
N6 5QA
ENGLAND
Accountants
Brian G. Lonis & Co Ltd
Accountants & Business Consultants
12E Manor Road
London
N16 5SA
SELVEDGE LIMITED
Statement of financial position
as at 30 November 2021
Intangible assets
104,080
104,080
Cash at bank and in hand
354,556
54,312
Creditors: amounts falling due within one year
(499,990)
(239,758)
Net current liabilities
(50,309)
(68,540)
Called up share capital
1
1
Profit and loss account
54,608
36,586
Shareholders' funds
54,609
36,587
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 March 2022 and were signed on its behalf by
Ms Polly Leonard
Director
Company Registration No. 04953181
SELVEDGE LIMITED
Notes to the Accounts
for the year ended 30 November 2021
SELVEDGE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04953181. The registered office is 14 MILTON PARK, LONDON, N6 5QA, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance method
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
SELVEDGE LIMITED
Notes to the Accounts
for the year ended 30 November 2021
4
Intangible fixed assets
Goodwill
At 1 December 2020
104,080
At 30 November 2021
104,080
At 30 November 2021
104,080
At 30 November 2020
104,080
5
Tangible fixed assets
Plant & machinery
At 30 November 2021
32,828
At 30 November 2021
31,990
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
7,234
52,366
7
Creditors: amounts falling due within one year
2021
2020
Trade creditors
156,275
95,684
Loans from directors
286,715
92,074
SELVEDGE LIMITED
Notes to the Accounts
for the year ended 30 November 2021
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
The controlling party is that of Ms Polly Leonard as she holds all of the issued share capital of the company.
10
Average number of employees
During the year the average number of employees was 1 (2020: 1).
