Registered number
06658490
Scarlet Developments Limited
Filleted Accounts
31 July 2023
Scarlet Developments Limited
Registered number: 06658490
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,816 9,634
Current assets
Debtors 4 7,074 5,751
Cash at bank and in hand 6,617 22,747
13,691 28,498
Creditors: amounts falling due within one year 5 (73,620) (68,754)
Net current liabilities (59,929) (40,256)
Total assets less current liabilities (55,113) (30,622)
Creditors: amounts falling due after more than one year 6 (8,286) (13,177)
Net liabilities (63,399) (43,799)
Capital and reserves
Called up share capital 1 1
Profit and loss account (63,400) (43,800)
Shareholder's funds (63,399) (43,799)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
E Dinwiddy
Director
Approved by the board on 10 April 2024
Scarlet Developments Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 August 2022 40,762
At 31 July 2023 40,762
Depreciation
At 1 August 2022 31,128
Charge for the year 4,818
At 31 July 2023 35,946
Net book value
At 31 July 2023 4,816
At 31 July 2022 9,634
4 Debtors 2023 2022
£ £
Trade debtors 2,419 2,455
Other debtors 4,655 3,296
7,074 5,751
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,896 4,896
Director current account 58,933 57,619
Taxation and social security costs 4,816 5,314
Other creditors 4,975 925
73,620 68,754
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 8,286 13,177
7 Controlling party
The company is owned and controlled by its director.
8 Other information
Scarlet Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
24 Cedar Road
Watford
Hertfordshire
WD19 4QW
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