7 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 100,852 7,293 108,145 32,534 10,822 43,356 64,789 68,318 xbrli:pure xbrli:shares iso4217:GBP 09319026 2023-01-01 2023-12-31 09319026 2023-12-31 09319026 2022-12-31 09319026 2022-01-01 2022-12-31 09319026 2022-12-31 09319026 2021-12-31 09319026 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 09319026 core:FurnitureFittings 2023-01-01 2023-12-31 09319026 core:MotorVehicles 2023-01-01 2023-12-31 09319026 bus:Director1 2023-01-01 2023-12-31 09319026 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 09319026 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 09319026 core:FurnitureFittings 2022-12-31 09319026 core:MotorVehicles 2022-12-31 09319026 core:FurnitureFittings 2023-12-31 09319026 core:MotorVehicles 2023-12-31 09319026 core:WithinOneYear 2023-12-31 09319026 core:WithinOneYear 2022-12-31 09319026 core:AfterOneYear 2023-12-31 09319026 core:AfterOneYear 2022-12-31 09319026 core:UKTax 2023-01-01 2023-12-31 09319026 core:UKTax 2022-01-01 2022-12-31 09319026 core:ShareCapital 2023-12-31 09319026 core:ShareCapital 2022-12-31 09319026 core:RetainedEarningsAccumulatedLosses 2023-12-31 09319026 core:RetainedEarningsAccumulatedLosses 2022-12-31 09319026 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 09319026 core:FurnitureFittings 2022-12-31 09319026 core:MotorVehicles 2022-12-31 09319026 bus:SmallEntities 2023-01-01 2023-12-31 09319026 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09319026 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09319026 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09319026 bus:FullAccounts 2023-01-01 2023-12-31 09319026 core:ComputerEquipment 2022-12-31 09319026 core:ComputerEquipment 2023-01-01 2023-12-31 09319026 core:ComputerEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 09319026
PROMO PARROT LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
PROMO PARROT LTD
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
PROMO PARROT LTD
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Intangible assets
6
64,789
68,318
Tangible assets
7
14,608
18,712
--------
--------
79,397
87,030
CURRENT ASSETS
Debtors
8
82,822
87,898
Cash at bank and in hand
83,541
21,010
---------
---------
166,363
108,908
CREDITORS: amounts falling due within one year
9
( 203,792)
( 149,856)
---------
---------
NET CURRENT LIABILITIES
( 37,429)
( 40,948)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
41,968
46,082
CREDITORS: amounts falling due after more than one year
10
( 41,008)
( 45,271)
--------
--------
NET ASSETS
960
811
--------
--------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
959
810
----
----
SHAREHOLDERS FUNDS
960
811
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PROMO PARROT LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 19 August 2024 , and are signed on behalf of the board by:
C M Simmons
Director
Company registration number: 09319026
PROMO PARROT LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bermuda House, 64C Roseville Road, Leeds, LS8 5DR.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services provided, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website costs
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33 1/3% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 7 (2022: 7 ).
5. TAX ON PROFIT/(LOSS)
Major components of tax expense/(income)
2023
2022
£
£
Current tax:
UK current tax expense
11,238
Adjustments in respect of prior periods
719
--------
----
Total current tax
11,238
719
--------
----
Deferred tax:
Origination and reversal of timing differences
( 8,809)
--------
-------
Tax on profit/(loss)
11,238
( 8,090)
--------
-------
6. INTANGIBLE ASSETS
Website costs
£
Cost
At 1 January 2023
100,852
Additions
7,293
---------
At 31 December 2023
108,145
---------
Amortisation
At 1 January 2023
32,534
Charge for the year
10,822
---------
At 31 December 2023
43,356
---------
Carrying amount
At 31 December 2023
64,789
---------
At 31 December 2022
68,318
---------
7. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost
At 1 January 2023
2,267
29,580
8,685
40,532
Additions
169
1,231
1,400
-------
--------
-------
--------
At 31 December 2023
2,436
29,580
9,916
41,932
-------
--------
-------
--------
Depreciation
At 1 January 2023
1,740
12,150
7,930
21,820
Charge for the year
174
4,358
972
5,504
-------
--------
-------
--------
At 31 December 2023
1,914
16,508
8,902
27,324
-------
--------
-------
--------
Carrying amount
At 31 December 2023
522
13,072
1,014
14,608
-------
--------
-------
--------
At 31 December 2022
527
17,430
755
18,712
-------
--------
-------
--------
8. DEBTORS
2023
2022
£
£
Trade debtors
23,366
74,957
Other debtors
59,456
12,941
--------
--------
82,822
87,898
--------
--------
9. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
11,999
18,076
Trade creditors
145,883
112,053
Corporation tax
11,238
Social security and other taxes
30,548
15,645
Other creditors
4,124
4,082
---------
---------
203,792
149,856
---------
---------
10. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
41,008
45,271
--------
--------