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REGISTERED NUMBER: 04215917 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022

FOR

CHROMA VISION LIMITED

CHROMA VISION LIMITED (REGISTERED NUMBER: 04215917)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CHROMA VISION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2022







DIRECTORS: Mrs P L Baldwin
R A Aisthorpe
M C Kale
C Wood





REGISTERED OFFICE: John Baldwin House
Acorn Close
Five Oak Green
TONBRIDGE
Kent
TN12 6RH





REGISTERED NUMBER: 04215917 (England and Wales)





ACCOUNTANTS: Wells Associates
10 Lonsdale Gardens
Tunbridge Wells
Kent
TN1 1NU

CHROMA VISION LIMITED (REGISTERED NUMBER: 04215917)

STATEMENT OF FINANCIAL POSITION
31 MAY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 164,945 223,232

CURRENT ASSETS
Stocks 146,582 248,095
Debtors 5 491,110 595,383
Cash at bank 1,082,323 803,156
1,720,015 1,646,634
CREDITORS
Amounts falling due within one year 6 1,153,710 1,300,347
NET CURRENT ASSETS 566,305 346,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

731,250

569,519

PROVISIONS FOR LIABILITIES 14,134 17,312
NET ASSETS 717,116 552,207

CAPITAL AND RESERVES
Called up share capital 80 80
Other reserves 20 20
Retained earnings 717,016 552,107
SHAREHOLDERS' FUNDS 717,116 552,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:





Mrs P L Baldwin - Director


CHROMA VISION LIMITED (REGISTERED NUMBER: 04215917)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

1. STATUTORY INFORMATION

Chroma Vision 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% 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 Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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 42 (2021 - 42 ) .

CHROMA VISION LIMITED (REGISTERED NUMBER: 04215917)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2021 320,176 559,361 72,408 951,945
Additions 1,155 - 3,778 4,933
Disposals (20,500 ) (68,719 ) - (89,219 )
At 31 May 2022 300,831 490,642 76,186 867,659
DEPRECIATION
At 1 June 2021 253,624 441,890 33,199 728,713
Charge for year 13,096 29,064 6,448 48,608
Eliminated on disposal (18,299 ) (56,308 ) - (74,607 )
At 31 May 2022 248,421 414,646 39,647 702,714
NET BOOK VALUE
At 31 May 2022 52,410 75,996 36,539 164,945
At 31 May 2021 66,552 117,471 39,209 223,232

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 448,545 573,507
Other debtors 42,565 21,876
491,110 595,383

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 342,669 659,369
Taxation and social security 482,558 552,085
Other creditors 328,483 88,893
1,153,710 1,300,347