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Registration number: 01210894

IBA Colourview Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

IBA Colourview Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 4

 

IBA Colourview Limited

(Registration number: 01210894)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

21,778

29,918

Creditors: Amounts falling due within one year

6

(8,055)

(7,670)

Net assets

 

13,723

22,248

Capital and reserves

 

Called up share capital

101

101

Retained earnings

13,622

22,147

Shareholders' funds

 

13,723

22,248

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
Mr Charles Atholl Dew-Jones
Director

 

IBA Colourview Limited

Notes to the Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 8 The Woodford Centre
Lysander Way
Old Sarum
Salisbury
Wiltshire
SP4 6BU
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents amounts chargeable in respect of graphic reproduction services to customers.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Leases

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

IBA Colourview Limited

Notes to the Financial Statements for the Year Ended 31 May 2024

3

Taxation

2024

2023

£

£

Corporation tax

385

-

Deferred tax

-

-

385

-

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 5).

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

7

21,778

29,918

   

21,778

29,918

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

385

-

Other creditors

7,670

7,670

8,055

7,670

 

IBA Colourview Limited

Notes to the Financial Statements for the Year Ended 31 May 2024

7

Related party transactions

Transactions with directors

2024

At 1 June 2023
£

At 31 May 2024
£

Mr Andrew Hamilton

Had a loan with the company

(1,925)

(1,925)

Mr Guy Hamilton

Had a loan with the company

(1,896)

(1,896)

Mr Stephen Frederick Ord

Had a loan with the company

(1,989)

(1,989)

Summary of transactions with other related parties

Colourview Holdings Ltd, the parent company, had transactions totalling £0. At the balance sheet date the amount due to Colourview Holdings Ltd was £35,767 (2023: £35,767).

Sarum Colourview Limited (a group company) made payments on behalf of IBA Colourview Limited totalling £7,093 (2023: £19,040). Sarum Colourview Limited received £15,232 in the year on behalf of IBA colourview Limited. IBA Colourview Limited made sales of £76,457 (2023: £149,485), earned commission of £51,555 (2023: £69,028) and incurred costs of £120,919 (2023: £195,928) which were recorded within Sarum Colourview Limited and have been transferred to IBA Colourview Limited via the inter-company account. At the balance sheet date the amount due from Sarum Colourview Limited was £57,546 (2023: £65,658).

 

8

Parent and ultimate parent undertaking

The company is controlled by Colourview Holdings Limited (the parent company) by virtue of its holding of 50.5% of share capital with voting rights.

 The company's immediate parent is Colourview Holdings Limited, incorporated in England & Wales.