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Registered Number: 11771750
England and Wales

 

 

 

LIVING COLOUR AUTOMOTIVE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Report to the directors on the preparation of the unaudited statutory accounts of LIVING COLOUR AUTOMOTIVE LTD for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LIVING COLOUR AUTOMOTIVE LTD for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of LIVING COLOUR AUTOMOTIVE LTD, as a body, in accordance with the terms of our engagement letter dated 12 March 2024 . Our work has been undertaken solely to prepare for your approval the accounts of LIVING COLOUR AUTOMOTIVE LTD and state those matters that we have agreed to state to the Board of Directors of LIVING COLOUR AUTOMOTIVE LTD, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LIVING COLOUR AUTOMOTIVE LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that LIVING COLOUR AUTOMOTIVE LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of LIVING COLOUR AUTOMOTIVE LTD.You consider that LIVING COLOUR AUTOMOTIVE LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of LIVING COLOUR AUTOMOTIVE LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 January 2024.



....................................................
Pro Accounting Office Ltd


12 March 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4   200 
  200 
Current assets      
Cash at bank and in hand 100    100 
Creditors: amount falling due within one year (45)   (80)
Net current assets 55    20 
 
Total assets less current liabilities 55    220 
Creditors: amount falling due after more than one year (12,647)   (12,054)
Net liabilities (12,592)   (11,834)
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account (12,692)   (11,934)
Shareholder's funds (12,592)   (11,834)
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 12 March 2024 and were signed by:


-------------------------------
Radoslaw Bednarski
Director
2
General Information
LIVING COLOUR AUTOMOTIVE LTD is a private company, limited by shares, registered in England and Wales, registration number 11771750, registration address 19 Portman Road, Scunthorpe, DN15 8PD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 4 Straight Line
2.

Staff Costs

2024
£
  2023
£
Wages and salaries   3,582 
  3,582 
 
Average number of employees during the year Number   Number
Administration 1    1 
Sales 1    1 
 
,

3.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 February 2023 400    400 
Additions  
Disposals (400)   (400)
At 31 January 2024  
Depreciation
At 01 February 2023 200    200 
Charge for year 200    200 
On disposals (400)   (400)
At 31 January 2024  
Net book values
Closing balance as at 31 January 2024  
Opening balance as at 01 February 2023 200    200 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3