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COMPANY REGISTRATION NUMBER: 10883943
Scott Parnell Water Management Limited
Filleted Unaudited Financial Statements
31 July 2024
Scott Parnell Water Management Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Current assets
Debtors
4
400
2,077
Cash at bank and in hand
24,431
25,154
--------
--------
24,831
27,231
Creditors: amounts falling due within one year
5
31,584
31,847
--------
--------
Net current liabilities
6,753
4,616
-------
-------
Total assets less current liabilities
( 6,753)
( 4,616)
-------
-------
Net liabilities
( 6,753)
( 4,616)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 6,853)
( 4,716)
-------
-------
Shareholders deficit
( 6,753)
( 4,616)
-------
-------
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 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 March 2025 , and are signed on behalf of the board by:
Mr D H Scott
Director
Company registration number: 10883943
Scott Parnell Water Management Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The directors have confirmed the continued support of its major creditor.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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:
Motor vehicles
-
25% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2024
2023
£
£
Other debtors
400
2,077
----
-------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
28
31
Social security and other taxes
160
Other creditors
31,556
31,656
--------
--------
31,584
31,847
--------
--------
6. Related party transactions
Mr S P Parnell and Mr D H Scott are directors and shareholders of Scott Parnell Limited, Mr S P Parnell and Mr D H Scott are the Controlling shareholders of Catalogue E (UK) Ltd. Included within Other Creditors is a balance due to Scott Parnell Limited of £29,656 (2023: £29,656). Included within other debtors is a balance from Catalogue E (UK) Ltd £Nil (2023: £2,077).