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REGISTERED NUMBER: 11191430 (England and Wales)

















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Rag Parade Ltd

Rag Parade Ltd (Registered number: 11191430)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rag Parade Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mr J L J Elgarice





REGISTERED OFFICE: 5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ





REGISTERED NUMBER: 11191430 (England and Wales)





ACCOUNTANTS: Sutton McGrath Hartley Limited
5 Westbrook Court
Sharrowvale Road
Sheffield
S11 8YZ

Rag Parade Ltd (Registered number: 11191430)

Balance Sheet
28 February 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 5,000 6,000
Property, plant and equipment 5 3,303 4,128
8,303 10,128

CURRENT ASSETS
Inventories 78,505 40,619
Cash at bank and in hand 68,911 119,577
147,416 160,196
CREDITORS
Amounts falling due within one year 6 98,998 94,538
NET CURRENT ASSETS 48,418 65,658
TOTAL ASSETS LESS CURRENT LIABILITIES 56,721 75,786

CREDITORS
Amounts falling due after more than one
year

7

(23,939

)

(33,811

)

PROVISIONS FOR LIABILITIES 8 (628 ) (784 )
NET ASSETS 32,154 41,191

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 32,054 41,091
SHAREHOLDERS' FUNDS 32,154 41,191

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Rag Parade Ltd (Registered number: 11191430)

Balance Sheet - continued
28 February 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 director and authorised for issue on 29 November 2023 and were signed by:





Mr J L J Elgarice - Director


Rag Parade Ltd (Registered number: 11191430)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Rag Parade Ltd 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 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
Revenue 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 2019, is being amortised evenly over its estimated useful life of ten 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 etc - 20% on reducing balance

Stocks
Inventories 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.

Rag Parade Ltd (Registered number: 11191430)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 March 2022
and 28 February 2023 10,000
AMORTISATION
At 1 March 2022 4,000
Charge for year 1,000
At 28 February 2023 5,000
NET BOOK VALUE
At 28 February 2023 5,000
At 28 February 2022 6,000

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 March 2022
and 28 February 2023 3,300 3,400 6,700
DEPRECIATION
At 1 March 2022 1,188 1,384 2,572
Charge for year 422 403 825
At 28 February 2023 1,610 1,787 3,397
NET BOOK VALUE
At 28 February 2023 1,690 1,613 3,303
At 28 February 2022 2,112 2,016 4,128

Rag Parade Ltd (Registered number: 11191430)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 9,915 9,672
Trade creditors 1,705 1,587
Tax (310 ) 4,847
Social security and other taxes 150 181
VAT 6,859 4,886
Pension Control 103 -
Directors' current accounts 78,961 71,865
Accrued expenses 1,615 1,500
98,998 94,538

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans > 1 year 20,591 20,085
Bank loans - 2-5 years 3,348 13,726
23,939 33,811

8. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 628 784

Deferred tax
£
Balance at 1 March 2022 784
Credit to Income Statement during year (156 )
Balance at 28 February 2023 628

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100