Company registration number 13459104 (England and Wales)
URBAN COLOUR SCHEME LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
URBAN COLOUR SCHEME LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
URBAN COLOUR SCHEME LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
973,464
981,285
Current assets
Cash at bank and in hand
13,001
5,507
Creditors: amounts falling due within one year
4
(1,002,085)
(997,642)
Net current liabilities
(989,084)
(992,135)
Net liabilities
(15,620)
(10,850)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(15,621)
(10,851)
Total equity
(15,620)
(10,850)

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 28 February 2025
Mrs P  Fairfax
Director
Company registration number 13459104 (England and Wales)
URBAN COLOUR SCHEME LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Urban Colour Scheme Limited is a private company limited by shares incorporated in England and Wales. The registered office is Celtic House Caxton Place,, Pentwyn, Cardiff, CF23 8HA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No Depreciation
Plant and equipment
25% Reducing Balance
Fixtures and fittings
25% Reducing Balance
Motor vehicles
25% Reducing Balance
URBAN COLOUR SCHEME LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
950,000
47,430
997,430
Depreciation and impairment
At 1 July 2023
-
0
16,145
16,145
Depreciation charged in the year
-
0
7,821
7,821
At 30 June 2024
-
0
23,966
23,966
Carrying amount
At 30 June 2024
950,000
23,464
973,464
At 30 June 2023
950,000
31,285
981,285
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,002,085
997,642
URBAN COLOUR SCHEME LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
5
Directors' transactions

Dividends totalling £0 (2023 - £0) were paid in the year in respect of shares held by the company's directors.

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
DLA
-
(996,187)
3,301
(6,956)
(999,842)
(996,187)
3,301
(6,956)
(999,842)
6
Parent company

The company's ultimate controlling party is Phyllis Fat Yin Fairfax by virtue of her ownership of 100% of the issued share capital in the company.

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