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Company Registration No. 08558307 (England and Wales)
Colour Thirst Limited Unaudited accounts for the year ended 30 June 2023
Colour Thirst Limited Unaudited accounts Contents
Page
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Colour Thirst Limited Company Information for the year ended 30 June 2023
Director
C W Le Core
Company Number
08558307 (England and Wales)
Registered Office
Rose Cottage Bearsted Road Weavering Kent ME14 5LD
Accountants
Rustrick Accountants Limited 380A New Hythe lane Larkfield Maidstone Kent ME20 6RZ
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Colour Thirst Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
155 
207 
Current assets
Inventories
1,500 
1,500 
Debtors
9,000 
12,697 
Cash at bank and in hand
3,023 
7,764 
13,523 
21,961 
Creditors: amounts falling due within one year
(7,386)
(6,794)
Net current assets
6,137 
15,167 
Total assets less current liabilities
6,292 
15,374 
Creditors: amounts falling due after more than one year
(11,767)
(12,258)
Net (liabilities)/assets
(5,475)
3,116 
Capital and reserves
Called up share capital
198 
198 
Share premium
59,902 
59,902 
Profit and loss account
(65,575)
(56,984)
Shareholders' funds
(5,475)
3,116 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 November 2023 and were signed on its behalf by
C W Le Core Director Company Registration No. 08558307
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Colour Thirst Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Colour Thirst Limited is a private company, limited by shares, registered in England and Wales, registration number 08558307. The registered office is Rose Cottage, Bearsted Road, Weavering, Kent, ME14 5LD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% reducing balance
Plant & machinery
25% reducing balance
Computer equipment
25% reducing balance
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Colour Thirst Limited Notes to the Accounts for the year ended 30 June 2023
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 July 2022
874 
At 30 June 2023
874 
Depreciation
At 1 July 2022
667 
Charge for the year
52 
At 30 June 2023
719 
Net book value
At 30 June 2023
155 
At 30 June 2022
207 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
1,500 
1,500 
1,500 
1,500 
Stock held as at 30.06.22 was £1,500
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,276 
- 
Trade debtors
1,302 
4,570 
Other debtors
6,422 
8,127 
9,000 
12,697 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,580 
4,259 
VAT
- 
225 
Trade creditors
2,824 
327 
Other creditors
982 
983 
Accruals
1,000 
1,000 
7,386 
6,794 
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Colour Thirst Limited Notes to the Accounts for the year ended 30 June 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
11,767 
12,258 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
198 Ordinary shares of £1 each
198 
198 
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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