The financial statements for the year ended 31 January 2022 are the first financial statements that comply with FRS 105 (Micro-entities). The date of transition is 1 February 2021.
The transition to FRS 105 (Micro-entities) has resulted in a change in accounting policy relating to deferred tax which was accounted for under the previous accounting regime.
The impact on opening equity at 1 February 2020 is a increase to that previously stated of £67 to an opening equity balance of £342.
The impact on the results for the year ended 31 January 2021 is a increase in retained profit for that year of £668.
Therefore the total equity as at 31 January 2021 is restated at £7,183.