Registration number:
IBA Colourview Limited
for the Year Ended 31 May 2024
IBA Colourview Limited
(Registration number: 01210894)
Balance Sheet as at 31 May 2024
Note |
2024 |
2023 |
|
Current assets |
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Debtors |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net assets |
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|
|
Capital and reserves |
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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 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
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IBA Colourview Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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
Taxation |
2024 |
2023 |
||
£ |
£ |
||
Corporation tax |
385 |
- |
|
Deferred tax |
- |
- |
|
385 |
- |
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
Current |
Note |
2024 |
2023 |
Amounts owed by related parties |
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|
|
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
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Taxation and social security |
|
- |
Other creditors |
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IBA Colourview Limited
Notes to the Financial Statements for the Year Ended 31 May 2024
Related party transactions |
Transactions with directors |
2024 |
At 1 June 2023 |
At 31 May 2024 |
Mr Andrew Hamilton |
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Had a loan with the company |
( |
( |
Mr Guy Hamilton |
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Had a loan with the company |
( |
( |
Mr Stephen Frederick Ord |
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Had a loan with the company |
( |
( |
Summary of transactions with other related parties
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).
Parent and ultimate parent undertaking |
The company's immediate parent is