Bed couch with draws, shared room, space saver. this could go in bedroom area. like the shelves idea, too. can add a light wooden dining table and a few comfy folding chairs to make cool dining area in bedrm space, if bed moves to living room area.
Sometimes when choosing a colour scheme for a kids room, be it a bedroom, playroom or nursery, multicoloured is the only way to go - this room works well with it's multicolours because of it's super crisp white background.