Registered number
06981574
WINNING COLOURS LIMITED
Filleted Accounts
31 August 2024
WINNING COLOURS LIMITED
Registered number: 06981574
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Current assets
Stocks 300 500
Debtors 4 - 46
Cash at bank and in hand 4,113 215
4,413 761
Creditors: amounts falling due within one year 5 (3,292) (1,380)
Net current assets/(liabilities) 1,121 (619)
Total assets less current liabilities 1,121 (619)
Creditors: amounts falling due after more than one year 6 (1,384) (3,225)
Net liabilities (263) (3,844)
Capital and reserves
Called up share capital 100 100
Profit and loss account (363) (3,944)
Shareholders' funds (263) (3,844)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mrs K Kincaid
Director
Approved by the board on 22 August 2025
WINNING COLOURS LIMITED
Notes to the Accounts
for the year ended 31 August 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. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer..
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:
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. . The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 9,904
At 31 August 2024 9,904
Depreciation
At 1 September 2023 9,904
At 31 August 2024 9,904
Net book value
At 31 August 2024 -
4 Debtors 2024 2023
£ £
Other debtors - 46
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,824 900
Trade creditors 510 480
Taxation and social security costs 106 -
Other creditors 852 -
3,292 1,380
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,384 3,225
7 Other information
WINNING COLOURS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Hempstalls Farm
Horsley Cross
Manningtree
Essex
CO11 2NZ
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