IRIS Accounts Production v25.1.4.42 09789422 director 1.10.23 30.9.24 30.9.24 false true false false true false Ordinary A 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh097894222023-09-30097894222024-09-30097894222023-10-012024-09-30097894222022-09-30097894222022-10-012023-09-30097894222023-09-3009789422ns15:EnglandWales2023-10-012024-09-3009789422ns14:PoundSterling2023-10-012024-09-3009789422ns10:Director12023-10-012024-09-3009789422ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3009789422ns10:SmallEntities2023-10-012024-09-3009789422ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3009789422ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3009789422ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3009789422ns10:FullAccounts2023-10-012024-09-3009789422ns10:OrdinaryShareClass12023-10-012024-09-3009789422ns5:CurrentFinancialInstruments2024-09-3009789422ns5:CurrentFinancialInstruments2023-09-3009789422ns5:Non-currentFinancialInstruments2024-09-3009789422ns5:Non-currentFinancialInstruments2023-09-3009789422ns5:ShareCapital2024-09-3009789422ns5:ShareCapital2023-09-3009789422ns5:RetainedEarningsAccumulatedLosses2024-09-3009789422ns5:RetainedEarningsAccumulatedLosses2023-09-3009789422ns5:LeaseholdImprovements2023-10-012024-09-3009789422ns5:PlantMachinery2023-10-012024-09-3009789422ns5:FurnitureFittings2023-10-012024-09-3009789422ns5:ComputerEquipment2023-10-012024-09-3009789422ns5:LeaseholdImprovements2023-09-3009789422ns5:PlantMachinery2023-09-3009789422ns5:FurnitureFittings2023-09-3009789422ns5:ComputerEquipment2023-09-3009789422ns5:LeaseholdImprovements2024-09-3009789422ns5:PlantMachinery2024-09-3009789422ns5:FurnitureFittings2024-09-3009789422ns5:ComputerEquipment2024-09-3009789422ns5:LeaseholdImprovements2023-09-3009789422ns5:PlantMachinery2023-09-3009789422ns5:FurnitureFittings2023-09-3009789422ns5:ComputerEquipment2023-09-3009789422ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3009789422ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3009789422ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-09-3009789422ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-09-3009789422ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-09-3009789422ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-09-3009789422ns10:OrdinaryShareClass12024-09-30
REGISTERED NUMBER: 09789422 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

VICTORY COLOURS PAINTS AND WALLCOVERINGS
LIMITED

VICTORY COLOURS PAINTS AND WALLCOVERINGS
LIMITED (REGISTERED NUMBER: 09789422)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Balance sheet 1

Notes to the financial statements 2


VICTORY COLOURS PAINTS AND WALLCOVERINGS
LIMITED (REGISTERED NUMBER: 09789422)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 8,411 4,931

Current assets
Stocks 10,000 13,500
Debtors 5 3,986 2,905
Cash at bank 1,149 1,312
15,135 17,717
Creditors
Amounts falling due within one year 6 57,409 46,392
Net current liabilities (42,274 ) (28,675 )
Total assets less current liabilities (33,863 ) (23,744 )

Creditors
Amounts falling due after more than one year 7 1,976 4,554
Net liabilities (35,839 ) (28,298 )

Capital and reserves
Called up share capital 8 100 100
Retained earnings (35,939 ) (28,398 )
Shareholders' funds (35,839 ) (28,298 )

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 director acknowledges her 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.

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 comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 June 2025 and were signed by:




Mrs V Yardley - Director


VICTORY COLOURS PAINTS AND WALLCOVERINGS
LIMITED (REGISTERED NUMBER: 09789422)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. Statutory information

Victory Colours Paints and Wallcoverings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09789422. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is Downley Cottage, Crichel Lane, Witchampton, Dorset, BH21 5AN.

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.

The company made a loss of £7,541 during the year and has a deficiency of assets at the year end of £35,839. The company is dependant upon the continued support of its director. The director has given their assurance that they will provide sufficient further finance as may prove necessary to meet the company's working capital requirements.

Turnover
Turnover represents the work of interior design and the selling of paints, net of VAT.

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

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value.

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 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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

VICTORY COLOURS PAINTS AND WALLCOVERINGS
LIMITED (REGISTERED NUMBER: 09789422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Tangible fixed assets
Fixtures
Tenant Plant and and Computer
improvements machinery fittings equipment Totals
£    £    £    £    £   
Cost
At 1 October 2023 - 10,958 500 1,333 12,791
Additions 5,870 - - 415 6,285
At 30 September 2024 5,870 10,958 500 1,748 19,076
Depreciation
At 1 October 2023 - 7,094 433 333 7,860
Charge for year 1,468 966 17 354 2,805
At 30 September 2024 1,468 8,060 450 687 10,665
Net book value
At 30 September 2024 4,402 2,898 50 1,061 8,411
At 30 September 2023 - 3,864 67 1,000 4,931

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 1,199 2,905
Other debtors 2,787 -
3,986 2,905

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 2,578 2,514
Trade creditors 13,003 16,424
VAT 681 1,500
Other creditors 54 56
Directors' current accounts 40,047 24,900
Accruals and deferred income 1,046 998
57,409 46,392

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 1,976 2,578
Bank loans - 2-5 years - 1,976
1,976 4,554

VICTORY COLOURS PAINTS AND WALLCOVERINGS
LIMITED (REGISTERED NUMBER: 09789422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100

9. Ultimate controlling party

The Director, Mrs V Yardley, controls the company by way of her 100% holding of the share capital of the company.