Paint IT Orange Ltd - Accounts

Paint IT Orange Ltd - Accounts

PAINT IT ORANGE LTD - Company Information

Print Friendly Version

2020-09-01 2021-08-29 false Capium Accounts Production 1.1 10312761 bus:AbridgedAccounts 2020-09-01 2021-08-29 10312761 bus:FRS102 2020-09-01 2021-08-29 10312761 bus:AuditExemptWithAccountantsReport 2020-09-01 2021-08-29 10312761 bus:SmallCompaniesRegimeForAccounts 2020-09-01 2021-08-29 10312761 bus:PrivateLimitedCompanyLtd 2020-09-01 2021-08-29 10312761 2020-09-01 2021-08-29 10312761 2021-08-29 10312761 bus:RegisteredOffice 2020-09-01 2021-08-29 10312761 core:WithinOneYear 2021-08-29 10312761 core:AfterOneYear 2021-08-29 10312761 bus:Director1 2020-09-01 2021-08-29 10312761 bus:Director1 2021-08-29 10312761 bus:Director1 2019-09-01 2020-08-31 10312761 2019-09-01 10312761 bus:CompanySecretary1 2020-09-01 2021-08-29 10312761 bus:LeadAgentIfApplicable 2020-09-01 2021-08-29 10312761 2019-09-01 2020-08-31 10312761 2020-08-31 10312761 core:WithinOneYear 2020-08-31 10312761 core:AfterOneYear 2020-08-31 10312761 bus:EntityAccountantsOrAuditors 2019-09-01 2020-08-31 10312761 bus:OrdinaryShareClass1 2020-09-01 2021-08-29 10312761 bus:OrdinaryShareClass1 2021-08-29 10312761 bus:OrdinaryShareClass1 2019-09-01 2020-08-31 10312761 bus:OrdinaryShareClass1 2020-08-31 10312761 core:CostValuation core:Non-currentFinancialInstruments 2021-08-29 10312761 core:CostValuation core:Non-currentFinancialInstruments 2020-08-31 10312761 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2021-08-29 10312761 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2021-08-29 10312761 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2021-08-29 10312761 core:Non-currentFinancialInstruments 2021-08-29 10312761 core:Non-currentFinancialInstruments 2020-08-31 10312761 core:ShareCapital 2021-08-29 10312761 core:ShareCapital 2020-08-31 10312761 core:RetainedEarningsAccumulatedLosses 2021-08-29 10312761 core:RetainedEarningsAccumulatedLosses 2020-08-31 10312761 dpl:Item1 2020-09-01 10312761 dpl:Item1 2021-08-29 10312761 dpl:Item1 2019-09-01 10312761 dpl:Item1 2020-08-31 iso4217:GBP xbrli:shares xbrli:pure
Reports Dated : 12/09/2022 Registered Number: 10312761
England and Wales

 

 

 

PAINT IT ORANGE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 September 2020

End date: 29 August 2021

Paint IT Orange Ltd
Contents Page
For the period ended 29 August 2021
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Paint IT Orange Ltd for the year ended 29 August 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Paint IT Orange Ltd for the year ended 29 August 2021 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Paint IT Orange Ltd , as a body, in accordance with the terms of our engagement letter dated 23 August 2022. Our work has been undertaken solely to prepare for your approval the accounts of Paint IT Orange Ltd and state those matters that we have agreed to state to the Board of Directors of Paint IT Orange Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paint IT Orange Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Paint IT Orange Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Paint IT Orange Ltd . You consider that Paint IT Orange Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Paint IT Orange Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
29 August 2021



....................................................
FD Chartered Accountants
16 Saberton Close
Redbourn
St. Albans
AL3 7DS
12 September 2022
1
 
 		 Notes
 		 29/08/2021
£		   31/08/2020
£
Current assets      
Debtors 1,348    1,348 
Cash at bank and in hand 19    109 
1,367    1,457 
Creditors: amount falling due within one year (53,559)   (52,700)
Net current liabilities (52,192)   (51,243)
 
Total assets less current liabilities (52,192)   (51,243)
Creditors: amount falling due after more than one year (18,057)   0 
Net liabilities (70,249)   (51,243)
 

Capital and reserves 		     
Called up share capital 1    1 
Profit and loss account (70,250)   (51,244)
Shareholder's funds (70,249)   (51,243)
 


For the period ended 29 August 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 12 September 2022 and were signed by:


--------------------------------
Jale Demirchi
Director
2
General Information
Paint IT Orange Ltd is a private company, limited by shares, registered in England and Wales, registration number 10312761, registration address C/O Fdca-Office 2 Bennet's House, 21 Leyton Road, Harpenden, AL5 2HU

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
2.

Average number of employees

Average number of employees during the period was 0 (2020 : 0).
3.

Share Capital

Authorised
1 Class A share of £1.00 each
Allotted, called up and fully paid
29/08/2021
£		   31/08/2020
£
1 Class A share of £1.00 each 1    1 
1    1 

3