ACCOUNTS - Final Accounts preparation

Registered number: 05776950

SCARLET SAILS LTD

UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

SCARLET SAILS LTD

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The director presents his report and the financial statements for the year ended 31 December 2025.

Director's responsibilities statement

The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the director is required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Director

The director who served during the year was:

Sergey Larkin

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 18 June 2026 and signed on its behalf.

Sergey Larkin

Director

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SCARLET SAILS LTD

REGISTERED NUMBER: 05776950

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	3		-		618
			-		618
Current assets
Debtors: amounts falling due within one year	4	211,338		211,338
Cash at bank and in hand	5	1,433		1,420
		212,771		212,758
Creditors: amounts falling due within one year	6	(3,051,543)		(3,051,165)
Net current liabilities			(2,838,772)		(2,838,407)

Net liabilities			(2,838,772)		(2,837,789)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(2,838,872)	(2,837,889)
	(2,838,772)	(2,837,789)

For the year ended 31 December 2025 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 June 2026.

Sergey Larkin

Director

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SCARLET SAILS LTD

REGISTERED NUMBER: 05776950

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

The notes on pages 4 to 7 form part of these financial statements.

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SCARLET SAILS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Scarlet Sails Ltd is a private company, limited by shares, registered in England and Wales, registration number 05776950. The registered office is 3-8, Bolsover Street, London, W1W 6AB, United Kingdom.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

2.2

Going concern

The financial statements have been prepared on a going concern basis even though at the year end, the Company had net current liabilities of £2,838,154. The controlling parties and the related companies have expressed their willingness to continue providing financial support for a period of atleast 12 months from the date of approval of the financial statements in order for the Company to meet its liabilities as they fall due.

For these reason, the director continues to adopt the going concer basis in the preparation of these financial statements.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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SCARLET SAILS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, SELECT OR ENTER METHOD.

Depreciation is provided on the following basis:

Fixtures and fittings

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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SCARLET SAILS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

3.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 January 2025	7,152
	At 31 December 2025	7,152
	Depreciation
	At 1 January 2025	6,534
	Charge for the year on owned assets	618
	At 31 December 2025	7,152
	Net book value
	At 31 December 2025	-
	At 31 December 2024	618

Debtors

					2025	2024
					£	£


Amounts owed by group undertakings	211,338	211,338
	211,338	211,338

5.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	1,433	1,420
	1,433	1,420

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SCARLET SAILS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Amounts owed to group undertakings	3,050,793	3,050,515
Accruals and deferred income	750	650
	3,051,543	3,051,165

7.	Controlling party

The ultimate controlling party is S Larkin.

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