Select Products (Yorkshire) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07601494 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

SELECT PRODUCTS (YORKSHIRE) LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

15,606

16,765

15,606

16,765

CURRENT ASSETS

Stocks

8,208

9,598

Debtors

48,603

32,592

Cash at bank

74,334

133,669

131,145

175,859

CREDITORS

Amounts falling due within one year

111,347

135,721

NET CURRENT ASSETS

19,798

40,138

TOTAL ASSETS LESS CURRENT LIABILITIES

35,404

56,903

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

35,304

56,803

SHAREHOLDERS' FUNDS

35,404

56,903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2018 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 on 31 August 2018 and were signed on its behalf by:

Mrs C D Lynch - Director

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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.

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 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

60,000

AMORTISATION

At 1 April 2017

and 31 March 2018

60,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

24,000

Additions

4,266

Disposals

(5,050

)

At 31 March 2018

23,216

DEPRECIATION

At 1 April 2017

7,235

Charge for year

4,502

Eliminated on disposal

(4,127

)

At 31 March 2018

7,610

NET BOOK VALUE

At 31 March 2018

15,606

At 31 March 2017

16,765

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100

Ordinary

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 April 2017

56,803

Profit for the year

7,501

Dividends

(29,000

)

At 31 March 2018

35,304

8.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Parties are the directors.