The Colourful Consultancy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11062366 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

The Colourful Consultancy Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Faulkner

B T Faulkner

REGISTERED OFFICE:

Hacheston Lodge

The Street

Hacheston

Woodbridge

Suffolk

IP13 0DL

REGISTERED NUMBER:

11062366 (England and Wales)

ACCOUNTANTS:

Pinfold & Co

Chartered Accountants

8 Deben Mill Business Centre

Old Maltings Approach

Woodbridge

Suffolk

IP12 1BL

FIXED ASSETS

Tangible assets

4

65,754

52,808

CURRENT ASSETS

Stocks

3,876

-

Debtors

135,528

158,716

Cash at bank

228,903

162,733

368,307

321,449

CREDITORS

Amounts falling due within one year

147,752

157,107

NET CURRENT ASSETS

220,555

164,342

TOTAL ASSETS LESS CURRENT LIABILITIES

286,309

217,150

PROVISIONS FOR LIABILITIES

5

4,301

3,513

NET ASSETS

282,008

213,637

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

281,908

213,537

SHAREHOLDERS' FUNDS

282,008

213,637

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 January 2021 and were signed on its behalf by:

G Faulkner - Director

1.	STATUTORY INFORMATION

The Colourful Consultancy 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

The turnover represents net invoiced sales of services, excluding value added tax, arising from management consultancy.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

70,411

Additions

46,389

Disposals

(20,000

)

At 31 March 2020

96,800

DEPRECIATION

At 1 April 2019

17,603

Charge for year

18,443

Eliminated on disposal

(5,000

)

At 31 March 2020

31,046

NET BOOK VALUE

At 31 March 2020

65,754

At 31 March 2019

52,808

5.	PROVISIONS FOR LIABILITIES

31.3.20

31.3.19

£

£

Deferred tax

4,301

3,513

Deferred

tax

£

Balance at 1 April 2019

3,513

Charge to Statement of Income and Retained Earnings during year

788

Balance at 31 March 2020

4,301

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

100

Ordinary

£1

100

100

7.	SUMMARY OF TRANSACTIONS WITH DIRECTORS

The following advances by and repayments to directors subsisted during the year ended 31 March 2020 and the period ended 31 March 2019:

31.3.20

31.3.19

£

£

B T Faulkner and G Faulkner

Balance outstanding at start of year

90,251

-

Amounts advanced

44,995

110,000

Amounts repaid

(31,640

)

(19,749

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

103,606

90,251

8.	RELATED PARTY DISCLOSURES

Southwest Vet Care Limited t/as Yatton Vets

A company in which Mrs Faulkner is a director.

Mr & Mrs Faulkner jointly own 25% of the company.

31.3.20

31.3.19

£

£

Amount due from related party at the balance sheet date

117,621

115,400

Colourful CPD Limited

A company in which Mr Faulkner is a director.

Mr & Mrs Faulkner jointly own 50% of the company.

31.3.20

31.3.19

£

£

Amount due from related party at the balance sheet date

1,321

1,055

Aldeburgh Vets Limited

A company in which Mr & Mrs Faulkner are director.

The company is owned 80% by Mr & Mrs Faulkner.

31.3.20

31.3.19

£

£

Amount due from related party at the balance sheet date

594

-