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Colwith Interiors Limited

Registered Number
01649895
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

Colwith Interiors Limited
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

BOWNESS, Philip
BOWNESS, Susan

Company Secretary

BOWNESS, Susan

Registered Address

Low Colwith
Little Langdale
Ambleside
LA22 9NU

Registered Number

01649895 (England and Wales)
Colwith Interiors Limited
Statement of Financial Position
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets329,92833,595
29,92833,595
Current assets
Stocks489,90778,495
Debtors5190,303583,513
Cash at bank and on hand477,458268,913
757,668930,921
Creditors amounts falling due within one year6(194,245)(230,359)
Net current assets (liabilities)563,423700,562
Total assets less current liabilities593,351734,157
Provisions for liabilities7-(3,500)
Net assets593,351730,657
Capital and reserves
Called up share capital100100
Profit and loss account593,251730,557
Shareholders' funds593,351730,657
The financial statements were approved and authorised for issue by the Board of Directors on 26 August 2025, and are signed on its behalf by:
BOWNESS, Philip
Director
BOWNESS, Susan
Director

Registered Company No. 01649895
Colwith Interiors Limited
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or the rendering of services. 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-2
Plant and machinery-20
Vehicles25-
Office Equipment-20
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of financial position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Statement of Earnings.
Trade and other 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.
Trade and other 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.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year77
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 September 2351,138236,61068,0873,754359,589
At 31 August 2451,138236,61068,0873,754359,589
Depreciation and impairment
At 01 September 2327,951234,71659,5743,753325,994
Charge for year1,0235152,129-3,667
At 31 August 2428,974235,23161,7033,753329,661
Net book value
At 31 August 2422,1641,3796,384129,928
At 31 August 2323,1871,8948,513133,595
4.Stocks

2024

2023

££
Raw materials and consumables5,8007,350
Work in progress84,10771,145
Total89,90778,495
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables89,185533,197
Other debtors90,44535,898
Prepayments and accrued income10,67314,418
Total190,303583,513
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,94033,112
Taxation and social security2,9664,832
Other creditors183,728184,120
Accrued liabilities and deferred income4,6118,295
Total194,245230,359
7.Provisions for liabilities
The deferred tax asset of £23,100 is included within Other Debtors.

2024

2023

££
Net deferred tax liability (asset)-3,500
Total-3,500
8.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £5,201 (2023 - £4,888).
9.Related party transactions
On 1 September 2023 the company owed the Directors £180,294. During the period the directors made further advances of £24,719 and made repayments of £22,500. At 31 August 2024 the company owed the Directors £182,513. No interest was charged on this loan and the loan is repayable on demand.