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REGISTERED NUMBER: 10361925 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Cars & Colours Ltd

Cars & Colours Ltd (Registered number: 10361925)






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


Cars & Colours Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: M L Zabicki
D A Zabicki





REGISTERED OFFICE: Unit 2a, Abbey Gate
Leicester
LE4 0AA





REGISTERED NUMBER: 10361925 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Cars & Colours Ltd (Registered number: 10361925)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 48,937 34,284

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 5 722,561 361,931
Cash at bank and in hand 69,187 139,558
801,748 511,489
CREDITORS
Amounts falling due within one year 6 (567,872 ) (396,891 )
NET CURRENT ASSETS 233,876 114,598
TOTAL ASSETS LESS CURRENT
LIABILITIES

282,813

148,882

CREDITORS
Amounts falling due after more than one
year

7

(7,032

)

(17,358

)

PROVISIONS FOR LIABILITIES (94 ) (308 )
NET ASSETS 275,687 131,216

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 275,387 130,916
275,687 131,216

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.

Cars & Colours Ltd (Registered number: 10361925)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 June 2025 and were signed on its behalf by:





D A Zabicki - Director


Cars & Colours Ltd (Registered number: 10361925)

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

1. STATUTORY INFORMATION

Cars & Colours Ltd 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.

These financial statements for the year ended 30 September 2024 are the first to be prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105. The date of transition to FRS 102 Section 1A is 1 October 2022.

The transition to FRS 102 Section 1A had the following effect on the financial statements:
- Retained earnings as at 30 September 2023 decreased by £308;
- Retained earnings as at 1 October 2022 decreased by £786;
- The profit for the year ended 30 September 2023 increased by £478.

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

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 cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Cars & Colours Ltd (Registered number: 10361925)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 20,981 308 34,748 56,037
Additions - 7,182 19,000 26,182
At 30 September 2024 20,981 7,490 53,748 82,219
DEPRECIATION
At 1 October 2023 14,720 83 6,950 21,753
Charge for year 3,036 1,345 7,148 11,529
At 30 September 2024 17,756 1,428 14,098 33,282
NET BOOK VALUE
At 30 September 2024 3,225 6,062 39,650 48,937
At 30 September 2023 6,261 225 27,798 34,284

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 717,305 354,453
Other debtors 5,256 7,478
722,561 361,931

Other debtors include prepayments and accrued income of £5,256 (2023: £3,678).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 10,326 10,067
Trade creditors 53,192 65,504
Taxation and social security 389,256 243,467
Other creditors 115,098 77,853
567,872 396,891

Other creditors include accruals and deferred income of £92,264 (2023: £26,234).

Cars & Colours Ltd (Registered number: 10361925)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 7,032 17,358

8. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £14,290 (2023: £2,841).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
M L Zabicki
Balance outstanding at start of year - -
Amounts advanced 37,970 -
Amounts repaid (37,970 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan was repayable on demand. Interest has been charged at HMRC's official rate of interest.