Caseware UK (AP4) 2024.0.164 2024.0.164 1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-08-01falseConstruction work1truetruefalse 05503558 2023-08-01 2024-07-31 05503558 2022-08-01 2023-07-31 05503558 2024-07-31 05503558 2023-07-31 05503558 c:CompanySecretary1 2023-08-01 2024-07-31 05503558 c:Director1 2023-08-01 2024-07-31 05503558 c:RegisteredOffice 2023-08-01 2024-07-31 05503558 d:OfficeEquipment 2023-08-01 2024-07-31 05503558 d:OfficeEquipment 2024-07-31 05503558 d:OfficeEquipment 2023-07-31 05503558 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 05503558 d:CurrentFinancialInstruments 2024-07-31 05503558 d:CurrentFinancialInstruments 2023-07-31 05503558 d:Non-currentFinancialInstruments 2024-07-31 05503558 d:Non-currentFinancialInstruments 2023-07-31 05503558 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 05503558 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 05503558 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 05503558 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 05503558 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-31 05503558 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 05503558 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-07-31 05503558 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 05503558 d:ShareCapital 2024-07-31 05503558 d:ShareCapital 2023-07-31 05503558 d:RetainedEarningsAccumulatedLosses 2024-07-31 05503558 d:RetainedEarningsAccumulatedLosses 2023-07-31 05503558 c:OrdinaryShareClass1 2023-08-01 2024-07-31 05503558 c:OrdinaryShareClass1 2024-07-31 05503558 c:OrdinaryShareClass1 2023-07-31 05503558 c:FRS102 2023-08-01 2024-07-31 05503558 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 05503558 c:AbridgedAccounts 2023-08-01 2024-07-31 05503558 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05503558 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 05503558 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 05503558 e:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05503558










Croma Decorations Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 July 2024

 
Croma Decorations Ltd
 

Company Information


Director
Mr J Rudd-Cowl 




Company secretary
Mr J Rudd-Cowl



Registered number
05503558



Registered office
4A Thornhill Crescent
Islington

London

N1 1BL




Accountants
Kreston Reeves LLP
Chartered Accountants

2nd Floor

168 Shoreditch High Street

London

E1 6RA





 
Croma Decorations Ltd
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Croma Decorations Ltd for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Croma Decorations Ltd for the year ended 31 July 2024 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the director of Croma Decorations Ltd in accordance with the terms of our engagement letter dated 28 January 2025Our work has been undertaken solely to prepare for your approval the financial statements of Croma Decorations Ltd and state those matters that we have agreed to state to the director of Croma Decorations Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Croma Decorations Ltd and its director for our work or for this report. 

It is your duty to ensure that Croma Decorations 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 Croma Decorations Ltd. You consider that Croma Decorations Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Croma Decorations 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.

  



Kreston Reeves LLP
 
Chartered Accountants
  
2nd Floor
168 Shoreditch High Street
London
E1 6RA
17 March 2025
Page 1

 
Croma Decorations Ltd
Registered number: 05503558

Balance sheet
As at 31 July 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
-
505

  
-
505

Current assets
  

Stocks
  
13,638
19,325

Debtors
  
19,489
10,218

Cash at bank and in hand
  
27,860
27,327

  
60,987
56,870

Creditors: amounts falling due within one year
 8 
(22,024)
(30,696)

Net current assets
  
 
 
38,963
 
 
26,174

Total assets less current liabilities
  
38,963
26,679

Creditors: amounts falling due after more than one year
  
(3,254)
(5,914)

Provisions for liabilities
  
-
(96)

Net assets
  
35,709
20,669


Capital and reserves
  

Called up share capital 
 12 
40
40

Profit and loss account
  
35,669
20,629

  
35,709
20,669


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2025.




Mr J Rudd-Cowl
Director
Page 2

 
Croma Decorations Ltd
Registered number: 05503558

Balance sheet (continued)
As at 31 July 2024


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Croma Decorations Ltd
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

1.


General information

The company is registered as a private company limited by shares, incorporated and domiciled in England & Wales. The company's registered office is at 4A Thornhill Crescent, Islington, London, N1 1BL.
The company's principle activity during the period was that of painting and decorating contractors.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied
during the year, exclusive of Value Added Tax and trade discounts.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
Croma Decorations Ltd
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
Croma Decorations Ltd
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

4.


Director's remuneration

2024
2023
£
£

Director's emoluments
41,300
35,900

41,300
35,900



5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 August 2023
2,670


Disposals
(2,316)



At 31 July 2024

354



Depreciation


At 1 August 2023
2,165


Charge for the year
88


Disposals
(1,899)



At 31 July 2024

354



Net book value



At 31 July 2024
-



At 31 July 2023
505

Page 6

 
Croma Decorations Ltd
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

6.


Debtors

2024
2023
£
£


Trade debtors
19,008
9,673

Prepayments and accrued income
481
545

19,489
10,218



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
27,860
27,327

27,860
27,327



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,000
3,307

Other loans
3,000
3,000

Corporation tax
4,094
5,142

Other taxation and social security
7,822
15,936

Other creditors
1,543
806

Accruals and deferred income
2,565
2,505

22,024
30,696



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,254
5,914

3,254
5,914


Page 7

 
Croma Decorations Ltd
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
3,000
3,307

Other loans
3,000
3,000


6,000
6,307

Amounts falling due 1-2 years

Bank loans
3,254
3,052


3,254
3,052

Amounts falling due 2-5 years

Bank loans
-
2,862


-
2,862


9,254
12,221



11.


Deferred taxation




2024


£






At beginning of year
(96)


Utilised in year
96



At end of year
-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
(96)

-
(96)

Page 8

 
Croma Decorations Ltd
 

 
Notes to the financial statements
For the Year Ended 31 July 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



40 (2023 - 40) Ordinary shares of £1 each
40
40



13.


Related party transactions

During the year the company paid dividends to the director, Mr J Rudd Cowl, £850 (2023- £5,880). As at 31 July 2024 the company owed £806 (2023 - £806) to Mr J Rudd-Cowl. 


14.


Controlling party

The company is controlled by the director, Mr J Rudd-Cowl. 


Page 9