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REGISTERED NUMBER: 10816661 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

COLOURS ELECTRICAL WHOLESALE LIMITED

COLOURS ELECTRICAL WHOLESALE LIMITED (REGISTERED NUMBER: 10816661)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

COLOURS ELECTRICAL WHOLESALE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: D T Ferguson





SECRETARY: A C Ferguson





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 10816661 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

COLOURS ELECTRICAL WHOLESALE LIMITED (REGISTERED NUMBER: 10816661)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 82,371 27,620

CURRENT ASSETS
Stocks 120,000 122,800
Debtors 5 249,246 392,688
Cash at bank and in hand 32,556 77,334
401,802 592,822
CREDITORS
Amounts falling due within one year 6 391,883 435,921
NET CURRENT ASSETS 9,919 156,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,290

184,521

CREDITORS
Amounts falling due after more than one
year

7

(11,695

)

(21,656

)

PROVISIONS FOR LIABILITIES (3,099 ) (4,763 )
NET ASSETS 77,496 158,102

CAPITAL AND RESERVES
Called up share capital 10 103 103
Retained earnings 77,393 157,999
SHAREHOLDERS' FUNDS 77,496 158,102

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 27 August 2024 and were signed by:




D T Ferguson - Director


COLOURS ELECTRICAL WHOLESALE LIMITED (REGISTERED NUMBER: 10816661)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Colours Electrical Wholesale 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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.

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 8 (2023 - 8 ) .

COLOURS ELECTRICAL WHOLESALE LIMITED (REGISTERED NUMBER: 10816661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2023 14,083 7,002 6,595
Additions - 77,834 1,577
Disposals - (6,500 ) -
At 31 March 2024 14,083 78,336 8,172
DEPRECIATION
At 1 April 2023 14,083 951 4,780
Charge for year - 7,423 547
Eliminated on disposal - (812 ) -
At 31 March 2024 14,083 7,562 5,327
NET BOOK VALUE
At 31 March 2024 - 70,774 2,845
At 31 March 2023 - 6,051 1,815

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 45,645 7,167 80,492
Additions 1 - 79,412
Disposals (18,034 ) - (24,534 )
At 31 March 2024 27,612 7,167 135,370
DEPRECIATION
At 1 April 2023 26,389 6,669 52,872
Charge for year 2,912 483 11,365
Eliminated on disposal (10,426 ) - (11,238 )
At 31 March 2024 18,875 7,152 52,999
NET BOOK VALUE
At 31 March 2024 8,737 15 82,371
At 31 March 2023 19,256 498 27,620

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 242,021 365,847
Other debtors 7,225 26,841
249,246 392,688

COLOURS ELECTRICAL WHOLESALE LIMITED (REGISTERED NUMBER: 10816661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 361,987 366,125
Taxation and social security 15,969 50,272
Other creditors 13,927 19,524
391,883 435,921

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 11,695 21,656

8. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Other loans 11,471 17,511

Amounts falling due between two and five years:
Other loans - 2-5 years 11,695 21,656

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 54,250 54,000

Colours Decorating Limited, of which Mr P C Ferguson is a director, is a guarantor on the leasehold premises the business trades from.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary A 1 100 100
2 Ordinary B 1 2 2
1 Ordinary C 1 1 1
103 103

11. RELATED PARTY DISCLOSURES

At the year end, the director, Mr D T Ferguson, owed the company £Nil (2023: £18,389). This loan is interest free and repayable on demand.

At the year end, the company owed the director, Mr D T Ferguson £312 (2023: £Nil). This loan is interest free and repayable on demand.

At the year end, the company owed Colours Decorating Limited £1,500 (2023: £7,500) of which former director, Mr P C Ferguson, is a director. This loan is interest free and repayable when funds are available.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
COLOURS ELECTRICAL WHOLESALE LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Colours Electrical Wholesale Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Colours Electrical Wholesale Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Colours Electrical Wholesale Limited and state those matters that we have agreed to state to the director of Colours Electrical Wholesale Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Colours Electrical Wholesale Limited and its director for our work or for this report.

It is your duty to ensure that Colours Electrical Wholesale Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Colours Electrical Wholesale Limited. You consider that Colours Electrical Wholesale Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Colours Electrical Wholesale Limited. 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 statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


28 August 2024