Select Products (Yorkshire) Limited - Accounts to registrar (filleted) - small 23.2.5

Select Products (Yorkshire) Limited - Accounts to registrar (filleted) - small 23.2.5

SELECT PRODUCTS (YORKSHIRE) LIMITED - Company Information

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REGISTERED NUMBER: 07601494 (England and Wales)













ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SELECT PRODUCTS (YORKSHIRE) LIMITED
SELECT PRODUCTS (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07601494)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SELECT PRODUCTS (YORKSHIRE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J J Lynch
Mrs C D Lynch





REGISTERED OFFICE: 57 Rodley Lane
Leeds
West Yorkshire
LS13 1NG





REGISTERED NUMBER: 07601494 (England and Wales)





ACCOUNTANTS: D & J Randles
Chartered Accountants
4 The Crescent
Adel
Leeds
West Yorkshire
LS16 6AA
Page 1
SELECT PRODUCTS (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07601494)

ABRIDGED BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 66,912 59,795
66,912 59,795

CURRENT ASSETS
Stocks 4,869 16,335
Debtors 114,364 126,918
Cash at bank 183,879 133,127
303,112 276,380
CREDITORS
Amounts falling due within one year 234,259 219,855
NET CURRENT ASSETS 68,853 56,525
TOTAL ASSETS LESS CURRENT
LIABILITIES
135,765
116,320

CREDITORS
Amounts falling due after more than one
year
(13,413
)
(18,847
)

PROVISIONS FOR LIABILITIES (12,600 ) (11,240 )
NET ASSETS 109,752 86,233

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 109,652 86,133
SHAREHOLDERS' FUNDS 109,752 86,233

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 notes form part of these financial statements

Page 2 continued...
SELECT PRODUCTS (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07601494)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023


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 Balance Sheet for the year ended 31 March 2023 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 31 August 2023 and were signed on its behalf by:





Mrs C D Lynch - Director


The notes form part of these financial statements

Page 3
SELECT PRODUCTS (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07601494)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Select Products (Yorkshire) 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. The company is registered for value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.

Page 4 continued...
SELECT PRODUCTS (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07601494)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 60,000
AMORTISATION
At 1 April 2022
and 31 March 2023 60,000
NET BOOK VALUE

At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 86,991
Additions 19,995
Disposals (1,300 )
At 31 March 2023 105,686
DEPRECIATION
At 1 April 2022 27,196
Charge for year 12,223
Eliminated on disposal (645 )
At 31 March 2023 38,774
NET BOOK VALUE
At 31 March 2023 66,912
At 31 March 2022 59,795

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

Page 5 continued...
SELECT PRODUCTS (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07601494)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Parties are the directors.

Page 6