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Registered Number: 12248673
England and Wales

 

 

 

S73 COLOUR SPECIALIST LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Director Vanessa Cleary
Registered Number 12248673
Registered Office Unit 1-3 The Fairground
Weyhill
Andover
Hampshire
SP11 0QN
Accountants River View Tax & Accountancy Ltd
5 Beresford Gate
South Way
Andover
SP10 5BN
1
In order to assist you fulfil your duties under the Companies Act 2006, and in accordance with your instructions, we have prepared the accounts which comprise 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 accounting records of the company and on the basis of information and explanations you have given to us.

This report is made solely to the Board of Directors of S73 Colour Specialist Ltd, as a body, in accordance with the terms of our letter of engagement. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S73 Colour Specialist Ltd and its Board of Directors as a body, for our work or for this report.

You consider that the company is exempt from an audit for the year ended 31 October 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

We have not carried out an audit or any other review of the accounts, and consequently 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 these accounts.

River View Tax & Accountancy Ltd
31 October 2023



....................................................
River View Tax & Accountancy Ltd
5 Beresford Gate
South Way
Andover
SP10 5BN
29 July 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 12,091    2,902 
12,091    2,902 
Current assets      
Debtors 4 4,830    3,752 
Cash at bank and in hand 21,939    39,248 
26,769    43,000 
Creditors: amount falling due within one year 5 (10,480)   (21,468)
Net current assets 16,289    21,532 
 
Total assets less current liabilities 28,380    24,434 
Provisions for liabilities 6 (2,039)   (237)
Net assets 26,341    24,197 
 

Capital and reserves
     
Called up share capital 7 100    100 
Share premium account 8 380    380 
Profit and loss account 25,861    23,717 
Shareholders' funds 26,341    24,197 
 


For the year ended 31 October 2023 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 financial statements were approved by the director on 29 July 2024 and were signed by:


-------------------------------
Vanessa Cleary
Director
3
General Information
S73 Colour Specialist Ltd is a private company, limited by shares, registered in England and Wales, registration number 12248673, registration address Unit 1-3 The Fairground, Weyhill, Andover, Hampshire, SP11 0QN.

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.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
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:
Plant and machinery etc 3-4 years
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 November 2022 9,158    9,158 
Additions 14,448    14,448 
Disposals  
At 31 October 2023 23,606    23,606 
Depreciation
At 01 November 2022 6,255    6,255 
Charge for year 5,260    5,260 
On disposals  
At 31 October 2023 11,515    11,515 
Net book values
Closing balance as at 31 October 2023 12,091    12,091 
Opening balance as at 01 November 2022 2,902    2,902 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors 4,830    3,752 
4,830    3,752 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 1,767    4,419 
Bank Loans & Overdrafts   4,917 
Taxation and Social Security 7,586    10,955 
Other Creditors 1,127    1,177 
10,480    21,468 

6.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 238    693 
Charged to Profit & Loss 1,801    (456)
2,039    237 

7.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

8.

Share premium account

2023
£
  2022
£
Equity Share Premium b/fwd 380    380 
380    380 

4