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REGISTERED NUMBER: 08098244 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

COLOURS TIMBER LTD

COLOURS TIMBER LTD (REGISTERED NUMBER: 08098244)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

COLOURS TIMBER LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: T A Ferguson
D G Ferguson





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





REGISTERED NUMBER: 08098244 (England and Wales)





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

COLOURS TIMBER LTD (REGISTERED NUMBER: 08098244)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,952 25,630

CURRENT ASSETS
Stocks 5 35,000 40,000
Debtors 6 136,526 102,951
Cash at bank and in hand 29,228 47,750
200,754 190,701
CREDITORS
Amounts falling due within one year 7 177,860 173,976
NET CURRENT ASSETS 22,894 16,725
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,846

42,355

CREDITORS
Amounts falling due after more than one
year

8

(60,453

)

(36,445

)

PROVISIONS FOR LIABILITIES 9 (5,488 ) (4,870 )
NET (LIABILITIES)/ASSETS (21,095 ) 1,040

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (21,097 ) 1,038
SHAREHOLDERS' FUNDS (21,095 ) 1,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

COLOURS TIMBER LTD (REGISTERED NUMBER: 08098244)

BALANCE SHEET - continued
30 JUNE 2024


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 Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:




D G Ferguson - Director



T A Ferguson - Director


COLOURS TIMBER LTD (REGISTERED NUMBER: 08098244)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Colours Timber Ltd 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% 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 3 (2023 - 3 ) .

COLOURS TIMBER LTD (REGISTERED NUMBER: 08098244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 59,609 408 4,136 64,153
Additions - - 433 433
At 30 June 2024 59,609 408 4,569 64,586
DEPRECIATION
At 1 July 2023 34,936 195 3,392 38,523
Charge for year 3,701 32 378 4,111
At 30 June 2024 38,637 227 3,770 42,634
NET BOOK VALUE
At 30 June 2024 20,972 181 799 21,952
At 30 June 2023 24,673 213 744 25,630

5. STOCKS
30.6.24 30.6.23
£    £   
Stocks 35,000 40,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 100,571 84,781
Other debtors less 1yr 4,657 4,657
Other debtors 2-5 years 30,000 12,621
VAT 101 -
Prepayments 1,197 892
136,526 102,951

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 158,484 130,612
Tax 7,700 13,268
Social security and other taxes - (244 )
VAT - 5,130
Directors' current accounts 176 1,830
Accrued expenses 1,500 13,380
177,860 173,976

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Other creditors less 1 yr 4,657 4,657
Other creditors 2-5 yrs 46,629 12,621
Bank loans 9,167 19,167
60,453 36,445

COLOURS TIMBER LTD (REGISTERED NUMBER: 08098244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax
Accelerated capital allowances 5,488 4,870

Deferred
tax
£   
Balance at 1 July 2023 4,870
Provided during year 618
Accelerated capital allowances
Balance at 30 June 2024 5,488

10. RELATED PARTY DISCLOSURES

At the year end, the company owed the directors £176 (2023: £1,830). This is interest free and repayable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
COLOURS TIMBER LTD

The following reproduces the text of the report prepared for the directors 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 Directors 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 Timber Ltd for the year ended 30 June 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 Board of Directors of Colours Timber Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Colours Timber Ltd and state those matters that we have agreed to state to the Board of Directors of Colours Timber Ltd, as a body, 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 Timber Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Colours Timber Ltd 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 profit of Colours Timber Ltd. You consider that Colours Timber Ltd 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 Timber 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 statutory financial statements.






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


4 November 2024