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REGISTERED NUMBER: 08472851 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SCARLETPL LTD

SCARLETPL LTD (REGISTERED NUMBER: 08472851)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SCARLETPL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: C Tattersall





REGISTERED OFFICE: 31 High Street
Haverhill
Suffolk
CB9 8AD





REGISTERED NUMBER: 08472851 (England and Wales)





ACCOUNTANTS: Hackett Griffey LLP
Chartered Certified Accountants
31 High Street
Haverhill
Suffolk
CB9 8AD

SCARLETPL LTD (REGISTERED NUMBER: 08472851)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 288,677 331,789
Tangible assets 5 50,246 1,770
338,923 333,559

CURRENT ASSETS
Stocks 94,000 30,000
Debtors 6 168,657 171,595
Cash at bank 92,410 199,831
355,067 401,426
CREDITORS
Amounts falling due within one year 7 429,059 403,675
NET CURRENT LIABILITIES (73,992 ) (2,249 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

264,931

331,310

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Share premium 124,800 124,800
Retained earnings 138,131 204,510
SHAREHOLDERS' FUNDS 264,931 331,310

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

SCARLETPL LTD (REGISTERED NUMBER: 08472851)

BALANCE SHEET - continued
31 DECEMBER 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 20 September 2024 and were signed by:





C Tattersall - Director


SCARLETPL LTD (REGISTERED NUMBER: 08472851)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

ScarletPL 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.

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


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
Turnover is the amount derived from ordinary activities, stated after trade discounts, other sales taxes and net of VAT.

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

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 cost
Hire stock - 25% on cost
Computer equipment - 25% on cost

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.

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.

SCARLETPL LTD (REGISTERED NUMBER: 08472851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Research and development
Research and development expenditure is written off in the profit and loss account in the year in which it is incurred except development expenditure incurred on individual projects. Where the recoverability of this development expenditure can be foreseen with reasonable assurance it is capitalised and amortised in line with sales from the relevant projects.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 January 2023
and 31 December 2023 431,120
AMORTISATION
At 1 January 2023 99,331
Amortisation for year 43,112
At 31 December 2023 142,443
NET BOOK VALUE
At 31 December 2023 288,677
At 31 December 2022 331,789

SCARLETPL LTD (REGISTERED NUMBER: 08472851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and Hire Computer
machinery stock equipment Totals
£    £    £    £   
COST
At 1 January 2023 25,857 21,000 8,255 55,112
Additions 16,929 35,000 651 52,580
At 31 December 2023 42,786 56,000 8,906 107,692
DEPRECIATION
At 1 January 2023 24,087 21,000 8,255 53,342
Charge for year 3,286 743 75 4,104
At 31 December 2023 27,373 21,743 8,330 57,446
NET BOOK VALUE
At 31 December 2023 15,413 34,257 576 50,246
At 31 December 2022 1,770 - - 1,770

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 153,372 167,312
Other debtors 15,285 4,283
168,657 171,595

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 130,281 327,569
Taxation and social security 1,745 -
Other creditors 297,033 76,106
429,059 403,675

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans - 32,869