1 February 2022 v2023.24.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP076920672022-02-012023-01-31076920672023-01-31076920672022-01-3107692067core:WithinOneYear2023-01-3107692067core:WithinOneYear2022-01-3107692067core:AfterOneYear2023-01-3107692067core:ShareCapital2023-01-3107692067core:ShareCapital2022-01-3107692067core:RetainedEarningsAccumulatedLosses2023-01-3107692067core:RetainedEarningsAccumulatedLosses2022-01-3107692067bus:Director12022-02-012023-01-3107692067bus:RegisteredOffice2022-02-012023-01-3107692067core:LandBuildings2022-02-012023-01-3107692067core:PlantMachinery2022-02-012023-01-3107692067core:OfficeEquipment2022-02-012023-01-3107692067core:MotorVehicles2022-02-012023-01-31076920672021-02-012022-01-3107692067core:LandBuildings2023-01-3107692067core:PlantMachinery2023-01-3107692067core:LandBuildings2022-02-0107692067core:PlantMachinery2022-02-01076920672022-02-0107692067core:LandBuildings2022-01-3107692067core:PlantMachinery2022-01-310769206712022-02-012023-01-3107692067countries:EnglandWales2022-02-012023-01-3107692067bus:AuditExemptWithAccountantsReport2022-02-012023-01-3107692067bus:PrivateLimitedCompanyLtd2022-02-012023-01-3107692067bus:SmallEntities2022-02-012023-01-3107692067bus:FullAccounts2022-02-012023-01-31
Company registration number:
07692067
Scarletts Parrot Essentials Limited
Unaudited Filleted Financial Statements for the year ended
31 January 2023
Scarletts Parrot Essentials Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Scarletts Parrot Essentials Limited
Year ended
31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Scarletts Parrot Essentials Limited
for the year ended
31 January 2023
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Scarletts Parrot Essentials Limited
, as a body. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Scarletts Parrot Essentials Limited
and state those matters that we have agreed to state to the Board of Directors of
Scarletts Parrot Essentials Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Scarletts Parrot Essentials Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Scarletts Parrot Essentials Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and loss of
Scarletts Parrot Essentials Limited
. You consider that
Scarletts Parrot Essentials Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Scarletts Parrot Essentials Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
A G Smith & Co Ltd
Chartered Certified Accountants
Unit 8
Laceby Business Park
Laceby
North East Lincs
DN37 7DP
United Kingdom
Date:
24 October 2023
Scarletts Parrot Essentials Limited
Statement of Financial Position
31 January 2023
20232022
Note££
Fixed assets    
Tangible assets 5
178,644
 
188,422
 
Current assets    
Stocks
500,000
 
575,000
 
Debtors 6
194,264
 
67,704
 
Cash at bank and in hand
8,180
 
31,528
 
702,444
 
674,232
 
Creditors: amounts falling due within one year 7
(485,221
)
(495,394
)
Net current assets
217,223
 
178,838
 
Total assets less current liabilities 395,867   367,260  
Creditors: amounts falling due after more than one year 8
(76,667
) -  
Provisions for liabilities
(37
)
(3,067
)
Net assets
319,163
 
364,193
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
319,063
 
364,093
 
Shareholders funds
319,163
 
364,193
 
For the year ending
31 January 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
24 October 2023
, and are signed on behalf of the board by:
T Delacroix
Director
Company registration number:
07692067
Scarletts Parrot Essentials Limited
Notes to the Financial Statements
Year ended
31 January 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Three Penny House Mill Lane
,
Fulletby
,
Horncastle
,
Lincolnshire
,
LN9 6BJ
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 40 years
Plant and machinery
15% straight line
Office equipment
15% straight line
Motor vehicles
20% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
7
(2022:
8.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 February 2022
and
31 January 2023
186,249
 
34,861
 
221,110
 
Depreciation      
At
1 February 2022
13,968
 
18,720
 
32,688
 
Charge
4,656
 
5,122
 
9,778
 
At
31 January 2023
18,624
 
23,842
 
42,466
 
Carrying amount      
At
31 January 2023
167,625
 
11,019
 
178,644
 
At 31 January 2022
172,281
 
16,141
 
188,422
 

6 Debtors

20232022
££
Trade debtors
60,238
 
15,475
 
Other debtors
134,026
 
52,229
 
194,264
 
67,704
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
41,854
  -  
Trade creditors
27,922
 
153,832
 
Taxation and social security
6,927
 
18,148
 
Other creditors
408,518
 
323,414
 
485,221
 
495,394
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
76,667
  -