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REGISTERED NUMBER: 07500482 (England and Wales)















Colophon Arts Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023






Colophon Arts Limited (Registered number: 07500482)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Colophon Arts Limited

Company Information
for the year ended 31 March 2023







Director: M Fraser





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 07500482 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Colophon Arts Limited (Registered number: 07500482)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 9,642 9,443

Current assets
Stocks 125,197 117,727
Debtors 5 20,663 48,317
Cash at bank 66,225 1,707
212,085 167,751
Creditors
Amounts falling due within one year 6 64,273 66,239
Net current assets 147,812 101,512
Total assets less current liabilities 157,454 110,955

Capital and reserves
Called up share capital 7 100 100
Retained earnings 8 157,354 110,855
Shareholders' funds 157,454 110,955

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

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

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 1 October 2023 and were signed by:





M Fraser - Director


Colophon Arts Limited (Registered number: 07500482)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Colophon Arts Limited 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.

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.

Going concern
The financial statements have been prepared on a going concern basis. The Director has reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts receivable for goods and services provided in the year and is stated net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Contained within fixtures and fittings are reference materials which are not depreciated as it is considered that their value is maintained year on year.

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.

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.

Colophon Arts Limited (Registered number: 07500482)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. Accounting policies - continued

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 1 (2022 - 1 ) .

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 April 2022 9,853 1,802 11,655
Additions 167 322 489
Disposals (300 ) - (300 )
At 31 March 2023 9,720 2,124 11,844
Depreciation
At 1 April 2022 437 1,775 2,212
Charge for year 181 108 289
Eliminated on disposal (299 ) - (299 )
At 31 March 2023 319 1,883 2,202
Net book value
At 31 March 2023 9,401 241 9,642
At 31 March 2022 9,416 27 9,443

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 90 47,585
Other debtors 20,573 732
20,663 48,317

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 399 506
Taxation and social security 26,259 20,995
Other creditors 37,615 44,738
64,273 66,239

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

Colophon Arts Limited (Registered number: 07500482)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


8. Reserves
Retained
earnings
£

At 1 April 2022 110,855
Profit for the year 71,499
Dividends (25,000 )
At 31 March 2023 157,354

9. First year adoption

The financial statements have been prepared under FRS 102 1A and in doing so the prior year figures have been restated from FRS 105 to FRS 102.