COMPANY REGISTRATION NUMBER:
12281062
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 October 2024
Current assets
Debtors |
4 |
12,050 |
12,050 |
Cash at bank and in hand |
77 |
335 |
|
-------- |
-------- |
|
12,127 |
12,385 |
|
|
|
|
Creditors: amounts falling due within one year |
5 |
186,320 |
93,198 |
|
--------- |
-------- |
Net current liabilities |
174,193 |
80,813 |
|
--------- |
-------- |
Total assets less current liabilities |
(
174,193) |
(
80,813) |
|
--------- |
-------- |
Net liabilities |
(
174,193) |
(
80,813) |
|
--------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
6 |
12,000 |
12,000 |
Profit and loss account |
(
186,193) |
(
92,813) |
|
--------- |
-------- |
Shareholders deficit |
(
174,193) |
(
80,813) |
|
--------- |
-------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
7 January 2025
, and are signed on behalf of the board by:
Company registration number:
12281062
Notes to the Financial Statements |
|
Year ended 31 October 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 124 City Road, London, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
(a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
12,050 |
12,050 |
|
-------- |
-------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Other creditors |
186,320 |
93,198 |
|
--------- |
-------- |
|
|
|
6.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
12,000 |
12,000 |
12,000 |
12,000 |
|
-------- |
-------- |
-------- |
-------- |
|
|
|
|
|
7.
Related party transactions
During the year, the company was under the control of Mr John Quail as director.
Mr Quail
is also the director of Claims.co.uk Limited as well as Colour Investments Limited and Colour Ventures Limited. During the year, the company received net loans of £18,000 to Claims.co.uk Limited (2023: £12,500 repaid to Claims.co.uk). The amount outstanding to Claims.co.uk Limited at the balance sheet date is £216,070 (2023: £198,070). During the year, the company paid net loans of £2,000 to Colour Investments Limited (2023: £31,500 received from Colour Investments Limited). The amount outstanding from Colour Investments Limited at the balance sheet date is £31,250 (2023: £29,250 owed to Colour Investments Limited). During the year, the company received net loans to Colour Ventures Limited of £77,122 (2023: £7,000 paid). The amount outstanding to Colour Ventures Limited at the balance sheet date is £NIL (2023: £77,122).