Caseware UK (AP4) 2023.0.135 2023.0.135 2024-11-302024-11-30true02023-11-01trueArtistic creationfalsefalse0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 15253512 2023-10-31 15253512 2023-11-01 2024-11-30 15253512 2022-11-01 2023-10-31 15253512 2024-11-30 15253512 c:Director1 2023-11-01 2024-11-30 15253512 d:FurnitureFittings 2023-11-01 2024-11-30 15253512 d:FurnitureFittings 2024-11-30 15253512 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-11-01 2024-11-30 15253512 d:PatentsTrademarksLicencesConcessionsSimilar 2024-11-30 15253512 d:CurrentFinancialInstruments 2024-11-30 15253512 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 15253512 d:ShareCapital 2024-11-30 15253512 d:RetainedEarningsAccumulatedLosses 2024-11-30 15253512 c:OrdinaryShareClass1 2023-11-01 2024-11-30 15253512 c:OrdinaryShareClass1 2024-11-30 15253512 c:FRS102 2023-11-01 2024-11-30 15253512 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-11-30 15253512 c:FullAccounts 2023-11-01 2024-11-30 15253512 c:PrivateLimitedCompanyLtd 2023-11-01 2024-11-30 15253512 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2023-11-01 2024-11-30 15253512 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-11-01 2024-11-30 15253512 e:PoundSterling 2023-11-01 2024-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 15253512









COLOUR WHEEL SALISBURY LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2024

 
COLOUR WHEEL SALISBURY LTD
REGISTERED NUMBER: 15253512

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
Note
£

Fixed assets
  

Intangible assets
 4 
16,200

Tangible assets
 5 
1,125

  
17,325

Current assets
  

Cash at bank and in hand
 6 
914

  
914

Creditors: amounts falling due within one year
 7 
(21,460)

Net current (liabilities)/assets
  
 
 
(20,546)

Total assets less current liabilities
  
(3,221)

  

Net (liabilities)/assets
  
(3,221)


Capital and reserves
  

Called up share capital 
 8 
10

Profit and loss account
  
(3,231)

  
(3,221)


Page 1

 
COLOUR WHEEL SALISBURY LTD
REGISTERED NUMBER: 15253512
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

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 period in question in accordance with section 476 of the Companies Act 2006.

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.

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 16 April 2025.




................................................
Camrin Schinkel
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
COLOUR WHEEL SALISBURY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales. The principal activity of the Company throughout the year was that of artistic creation. The Company was incorporated on 1st November 2023 and commenced trading on 15th July 2024.  

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 following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis. This assumes the continued support of the director which she has pledged for the foreseeable future. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
COLOUR WHEEL SALISBURY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%

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.

 
2.6

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. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration.

Page 4

 
COLOUR WHEEL SALISBURY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

4.


Intangible assets



Franchise Fee

£



Cost


Additions
18,000



At 30 November 2024

18,000



Amortisation


Charge for the period on owned assets
1,800



At 30 November 2024

1,800



Net book value



At 30 November 2024
16,200




5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


Additions
1,500



At 30 November 2024

1,500



Depreciation


Charge for the period on owned assets
375



At 30 November 2024

375



Net book value



At 30 November 2024
1,125

Page 5

 
COLOUR WHEEL SALISBURY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
914

914



7.


Creditors: Amounts falling due within one year

2024
£

Other creditors
20,605

Accruals and deferred income
855

21,460


Included in creditors is a director’s loan account balance of £20,605 in relation to Camrin Schinkel.


8.


Share capital

2024
£
Allotted, called up and fully paid


10 Ordinary shares of £1.00 each
10


Upon incorporation, 10 Ordinary £1 shares were issued at par.


9.


Controlling party

The Company is controlled by the director Camrin Schinkel, by virtue of her shareholding, as described in the directors’ report.

 
Page 6