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REGISTERED NUMBER: 03423532 (England and Wales)







Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Colourways Limited

Colourways Limited (Registered number: 03423532)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Colourways Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr I Holman
Mrs S Holman





REGISTERED OFFICE: The Tower
The Maltings
How Lane
Ware
Hertfordshire
SG12 9LR





REGISTERED NUMBER: 03423532 (England and Wales)





ACCOUNTANTS: DSCO
The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR

Colourways Limited (Registered number: 03423532)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,917 6,109
4,917 6,109

CURRENT ASSETS
Debtors 6 897,572 924,446
Cash at bank 67,733 66,960
965,305 991,406
CREDITORS
Amounts falling due within one year 7 50,966 63,211
NET CURRENT ASSETS 914,339 928,195
TOTAL ASSETS LESS CURRENT
LIABILITIES

919,256

934,304

CREDITORS
Amounts falling due after more than one
year

8

(70,000

)

(100,000

)

PROVISIONS FOR LIABILITIES 9 (1,189 ) (1,527 )
NET ASSETS 848,067 832,777

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 847,967 832,677
SHAREHOLDERS' FUNDS 848,067 832,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Colourways Limited (Registered number: 03423532)

Balance Sheet - continued
30 September 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:





Mr I Holman - Director


Colourways Limited (Registered number: 03423532)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Colourways Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Colourways Limited (Registered number: 03423532)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 October 2023
and 30 September 2024 27,799
AMORTISATION
At 1 October 2023
and 30 September 2024 27,799
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 October 2023 279,839
Additions 448
At 30 September 2024 280,287
DEPRECIATION
At 1 October 2023 273,730
Charge for year 1,640
At 30 September 2024 275,370
NET BOOK VALUE
At 30 September 2024 4,917
At 30 September 2023 6,109

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 4,428 19,836
Other debtors 893,144 904,610
897,572 924,446

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 6,079 12,669
Taxation and social security 12,276 14,366
Other creditors 32,611 36,176
50,966 63,211

Colourways Limited (Registered number: 03423532)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Other creditors 70,000 100,000

9. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 1,189 1,527

Deferred
tax
£   
Balance at 1 October 2023 1,527
Accelerated capital allowances (338 )
Balance at 30 September 2024 1,189

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY DISCLOSURES

Life In Cache Limited
During the year the company maintained an inter-company loan account with Life In Cache Limited. As at the year end, Life In Cache Limited owed Colourways Limited £119,978.

I.H.H.Q. Limited
During the year the company maintained an inter-company loan account with I.H.H.Q. Limited. As at the year end, I.H.H.Q. Limited owed Colourways Limited £475,023

The Bakehouse Hertford Limited
During the year the company maintained an inter-company loan account with The Bakehouse Hertford Limited. As at the year end, The Bakehouse Hertford Limited owed Colourways Limited £297,357

Jedi Capital Limited
During the year the company maintained an inter-company loan account with Jedi Capital Limited. As at the year end, Colourways Limited owed Jedi Capital Limited Ltd £11,600.