6 false false false false false false false false false true false false false true false true No description of principal activity 2021-01-01 Sage Accounts Production Advanced 2020 - FRS102_2019 50,675 15,122 65,797 15,859 6,579 22,438 43,359 34,816 xbrli:pure xbrli:shares iso4217:GBP 09319026 2021-01-01 2021-12-31 09319026 2021-12-31 09319026 2020-12-31 09319026 2020-01-01 2020-12-31 09319026 2020-12-31 09319026 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-01-01 2021-12-31 09319026 core:FurnitureFittings 2021-01-01 2021-12-31 09319026 core:MotorVehicles 2021-01-01 2021-12-31 09319026 bus:Director1 2021-01-01 2021-12-31 09319026 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2020-12-31 09319026 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-31 09319026 core:FurnitureFittings 2020-12-31 09319026 core:FurnitureFittings 2021-12-31 09319026 core:MotorVehicles 2021-12-31 09319026 core:WithinOneYear 2021-12-31 09319026 core:WithinOneYear 2020-12-31 09319026 core:AfterOneYear 2021-12-31 09319026 core:AfterOneYear 2020-12-31 09319026 core:UKTax 2021-01-01 2021-12-31 09319026 core:UKTax 2020-01-01 2020-12-31 09319026 core:ShareCapital 2021-12-31 09319026 core:ShareCapital 2020-12-31 09319026 core:RetainedEarningsAccumulatedLosses 2021-12-31 09319026 core:RetainedEarningsAccumulatedLosses 2020-12-31 09319026 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2020-12-31 09319026 core:FurnitureFittings 2020-12-31 09319026 bus:SmallEntities 2021-01-01 2021-12-31 09319026 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 09319026 bus:FullAccounts 2021-01-01 2021-12-31 09319026 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 09319026 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 09319026 core:ComputerEquipment 2020-12-31 09319026 core:ComputerEquipment 2021-01-01 2021-12-31 09319026 core:ComputerEquipment 2021-12-31
COMPANY REGISTRATION NUMBER: 09319026
PROMO PARROT LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2021
PROMO PARROT LTD
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
PROMO PARROT LTD
STATEMENT OF FINANCIAL POSITION
31 December 2021
2021
2020
Note
£
£
£
£
FIXED ASSETS
Intangible assets
6
43,359
34,816
Tangible assets
7
20,824
1,066
--------
--------
64,183
35,882
CURRENT ASSETS
Debtors
8
101,390
114,459
Cash at bank and in hand
35,217
45,607
---------
---------
136,607
160,066
CREDITORS: amounts falling due within one year
9
( 135,921)
( 109,424)
---------
---------
NET CURRENT ASSETS
686
50,642
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
64,869
86,524
CREDITORS: amounts falling due after more than one year
10
( 43,682)
( 76,867)
PROVISIONS
( 8,809)
( 6,818)
--------
--------
NET ASSETS
12,378
2,839
--------
--------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
12,377
2,838
--------
-------
SHAREHOLDERS FUNDS
12,378
2,839
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PROMO PARROT LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 17 August 2022 , and are signed on behalf of the board by:
C M Simmons
Director
Company registration number: 09319026
PROMO PARROT LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bermuda House, 64C Roseville Road, Leeds, LS8 5DR.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services provided, exclusive of Value Added Tax.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website costs
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33 1/3% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 6 (2020: 4 ).
5. TAX ON PROFIT
Major components of tax (income)/expense
2021
2020
£
£
Current tax:
UK current tax (income)/expense
( 719)
6,867
Adjustments in respect of prior periods
( 6,148)
( 5,176)
-------
-------
Total current tax
( 6,867)
1,691
-------
-------
Deferred tax:
Origination and reversal of timing differences
1,992
( 1)
-------
-------
Tax on profit
( 4,875)
1,690
-------
-------
6. INTANGIBLE ASSETS
Website costs
£
Cost
At 1 January 2021
50,675
Additions
15,122
--------
At 31 December 2021
65,797
--------
Amortisation
At 1 January 2021
15,859
Charge for the year
6,579
--------
At 31 December 2021
22,438
--------
Carrying amount
At 31 December 2021
43,359
--------
At 31 December 2020
34,816
--------
7. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost
At 1 January 2021
1,644
7,006
8,650
Additions
623
25,354
1,096
27,073
-------
--------
-------
--------
At 31 December 2021
2,267
25,354
8,102
35,723
-------
--------
-------
--------
Depreciation
At 1 January 2021
1,331
6,253
7,584
Charge for the year
234
6,339
742
7,315
-------
--------
-------
--------
At 31 December 2021
1,565
6,339
6,995
14,899
-------
--------
-------
--------
Carrying amount
At 31 December 2021
702
19,015
1,107
20,824
-------
--------
-------
--------
At 31 December 2020
313
753
1,066
-------
--------
-------
--------
8. DEBTORS
2021
2020
£
£
Trade debtors
88,234
108,719
Other debtors
13,156
5,740
---------
---------
101,390
114,459
---------
---------
9. CREDITORS: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
4,060
11,482
Trade creditors
92,797
45,343
Corporation tax
10,310
Social security and other taxes
34,238
39,594
Other creditors
4,826
2,695
---------
---------
135,921
109,424
---------
---------
10. CREDITORS: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
43,682
76,867
--------
--------