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REGISTERED NUMBER: 13532007 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Sparkle Craft Vinyl Limited

Sparkle Craft Vinyl Limited (Registered number: 13532007)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 6

Sparkle Craft Vinyl Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mrs L Vincent





SECRETARY: Mrs L Vincent





REGISTERED OFFICE: Unit 18 Hilsea Industrial Estate
Limberline Spur
Portsmouth
Hampshire
PO3 5JW





REGISTERED NUMBER: 13532007 (England and Wales)





ACCOUNTANTS: Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Sparkle Craft Vinyl Limited (Registered number: 13532007)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,436 1,010

CURRENT ASSETS
Stocks 40,481 39,451
Debtors 5 16,734 6,315
Cash at bank and in hand 22,229 15,434
79,444 61,200
CREDITORS
Amounts falling due within one year 6 55,809 52,421
NET CURRENT ASSETS 23,635 8,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,071

9,789

PROVISIONS FOR LIABILITIES 3,123 -
NET ASSETS 36,948 9,789

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 36,947 9,788
36,948 9,789

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 16 April 2024 and were signed by:



Mrs L Vincent - Director


Sparkle Craft Vinyl Limited (Registered number: 13532007)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Sparkle Craft Vinyl Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Significant judgements and estimates
The preparation of financial statements requires the use of estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events and actions. Actual results may differ from those amounts.

Management do not consider there to be any significant judgements or estimates used int he preparation of these financial statements.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks 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.


Sparkle Craft Vinyl Limited (Registered number: 13532007)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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.

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 3 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 - 1,347 - 1,347
Additions 13,885 2,604 1,529 18,018
At 31 July 2023 13,885 3,951 1,529 19,365
DEPRECIATION
At 1 August 2022 - 337 - 337
Charge for year 1,740 600 252 2,592
At 31 July 2023 1,740 937 252 2,929
NET BOOK VALUE
At 31 July 2023 12,145 3,014 1,277 16,436
At 31 July 2022 - 1,010 - 1,010

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 10,089 7,546
Other debtors 6,645 (1,231 )
16,734 6,315

Sparkle Craft Vinyl Limited (Registered number: 13532007)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 6,547 9,421
Trade creditors 5,351 5,031
Taxation and social security 22,319 12,499
Other creditors 21,592 25,470
55,809 52,421

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date, the company owed the director £17,785 (2022: £24,194).

Sparkle Craft Vinyl Limited

Report of the Accountants to the Director of
Sparkle Craft Vinyl Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2023 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ


Date: .............................................