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REGISTERED NUMBER: 06792264 (England and Wales)












SPARKLE ENTERTAINMENT LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






SPARKLE ENTERTAINMENT LTD (REGISTERED NUMBER: 06792264)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPARKLE ENTERTAINMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: J R Oakley
Mrs H V Oakley





REGISTERED OFFICE: 53 Park Lane
Coningsby
Lincoln
Lincolnshire
LN4 4SW





REGISTERED NUMBER: 06792264 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe (Boston)
The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA

SPARKLE ENTERTAINMENT LTD (REGISTERED NUMBER: 06792264)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 42,895 28,187

CURRENT ASSETS
Debtors 4 1,133 -
Cash at bank 507 184
1,640 184
CREDITORS
Amounts falling due within one year 5 19,636 16,041
NET CURRENT LIABILITIES (17,996 ) (15,857 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,899

12,330

PROVISIONS FOR LIABILITIES 7,017 3,456
NET ASSETS 17,882 8,874

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 17,880 8,872
SHAREHOLDERS' FUNDS 17,882 8,874

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

SPARKLE ENTERTAINMENT LTD (REGISTERED NUMBER: 06792264)

BALANCE SHEET - continued
31 JANUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 13 October 2023 and were signed on its behalf by:




Mrs H V Oakley - Director



J R Oakley - Director


SPARKLE ENTERTAINMENT LTD (REGISTERED NUMBER: 06792264)

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


1. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

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.

2. EMPLOYEES AND DIRECTORS

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

SPARKLE ENTERTAINMENT LTD (REGISTERED NUMBER: 06792264)

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


3. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 10,000 75,515 85,515
Additions - 22,306 22,306
At 31 January 2023 10,000 97,821 107,821
DEPRECIATION
At 1 February 2022 9,700 47,628 57,328
Charge for year 75 7,523 7,598
At 31 January 2023 9,775 55,151 64,926
NET BOOK VALUE
At 31 January 2023 225 42,670 42,895
At 31 January 2022 300 27,887 28,187

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,133 -

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 1,226
Taxation and social security - 1,428
Other creditors 19,636 13,387
19,636 16,041