Registered number
10970884
Living Colour Lady Decorators Limited
Unaudited Filleted Accounts
30 September 2024
Living Colour Lady Decorators Limited
Registered number: 10970884
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,335 13,084
Current assets
Debtors 4 - 1,082
Cash at bank and in hand 5,714 9,590
5,714 10,672
Creditors: amounts falling due within one year 5 (18,529) (22,232)
Net current liabilities (12,815) (11,560)
Total assets less current liabilities (1,480) 1,524
Provisions for liabilities (394) (394)
Net (liabilities)/assets (1,874) 1,130
Capital and reserves
Called up share capital 1 1
Profit and loss account (1,875) 1,129
Shareholder's funds (1,874) 1,130
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
AS Henson
Director
Approved by the board on 21 May 2025
Living Colour Lady Decorators Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Grants
Government grants are recognised when there is reasonable assurance that the conditions associated with the grants have been complied with and the grants will be received. Grants are recognised using the Accrual Model (FRS 102 Paragraph 24.4). Grants relating to revenue are recognised on a systematic basis over periods in which the company recognises the related costs or benefits. Grant revenues are presented within other operating income.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% Reducing balance
Fixtures, fittings, tools and equipment 15% Reducing balance
Buildings 10% Straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 470 7,048 14,067 21,585
Additions - 499 5,000 5,499
Disposals - - (9,978) (9,978)
At 30 September 2024 470 7,547 9,089 17,106
Depreciation
At 1 October 2023 94 3,043 5,364 8,501
Charge for the year 47 801 1,786 2,634
On disposals - - (5,364) (5,364)
At 30 September 2024 141 3,844 1,786 5,771
Net book value
At 30 September 2024 329 3,703 7,303 11,335
At 30 September 2023 376 4,005 8,703 13,084
4 Debtors 2024 2023
£ £
Other debtors - 1,082
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 347 705
Other creditors 18,182 21,527
18,529 22,232
6 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
AS Henson
Loan 1 21,527 - (3,345) 18,182
21,527 - (3,345) 18,182
7 Controlling party
The company is controlled by Mrs AS Henson who owns 100% of the share capital
8 Other information
Living Colour Lady Decorators Limited is a private company limited by shares and incorporated in England. Its registered office is:
14 Rectory Close
Crewe
Cheshire
CW2 8HG
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