The Colourful Consultancy Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 11062366 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

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

8 Deben Mill Business Centre

Old Maltings Approach

Woodbridge

Suffolk

IP12 1BL

FIXED ASSETS

Tangible assets

4

-

44,932

CURRENT ASSETS

Stocks

-

13,956

Debtors

56,541

330,253

Cash at bank

418,005

211,753

474,546

555,962

CREDITORS

Amounts falling due within one year

184,959

250,383

NET CURRENT ASSETS

289,587

305,579

TOTAL ASSETS LESS CURRENT LIABILITIES

289,587

350,511

PROVISIONS FOR LIABILITIES

5

-

3,068

NET ASSETS

289,587

347,443

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

289,487

347,343

SHAREHOLDERS' FUNDS

289,587

347,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 2023 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 25 July 2023 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

Work in progress is valued at the lower of cost and net realisable value.

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 4 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

103,298

Disposals

(103,298

)

At 31 March 2023

-

DEPRECIATION

At 1 April 2022

58,366

Charge for year

9,335

Eliminated on disposal

(67,701

)

At 31 March 2023

-

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

44,932

5.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

-

3,068

Deferred

tax

£

Balance at 1 April 2022

3,068

Credit to Statement of Income and Retained Earnings during year

(3,068

)

Balance at 31 March 2023

-

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

100

Ordinary

£1

100

100

7.	SUMMARY OF TRANSACTIONS WITH DIRECTORS

The following advances by and repayments to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23

31.3.22

£

£

B T Faulkner and G Faulkner

Balance outstanding at start of year

231,847

173,445

Amounts advanced

100,000

59,130

Amounts repaid

(171,038

)

(728

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

160,809

231,847

8.	RELATED PARTY DISCLOSURES

At the balance sheet date related parties were owed £3,137 and the company owed related parties £46,830.

Interest of £6,727 (2022: £4,055) was received in the year from related parties.

During the year related parties were invoiced £81,048 by related parties and raised invoices to related parties for £50,369.