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REGISTERED NUMBER: 04951639 (England and Wales)











Financial Statements

for the Year Ended 31st August 2023

for

COLORXPRESS LIMITED
TRADING AS
IPRINT

COLORXPRESS LIMITED (REGISTERED NUMBER: 04951639)
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Contents of the Financial Statements
for the year ended 31st August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COLORXPRESS LIMITED
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Company Information
for the year ended 31st August 2023







DIRECTOR: R K Smith





SECRETARY: D P Wheeler





REGISTERED OFFICE: Redhill Chambers
2d High Street
Redhill
Surrey
RH1 1RJ





REGISTERED NUMBER: 04951639 (England and Wales)





ACCOUNTANTS: Cheeld Wheeler & Co
Chartered Certified Accountants
Redhill Chambers
2d High Street
Redhill
Surrey
RH1 1RJ

COLORXPRESS LIMITED (REGISTERED NUMBER: 04951639)
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Balance Sheet
31st August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 5,000

CURRENT ASSETS
Debtors 5 4,432 11,349
Cash at bank 17,903 39,554
22,335 50,903
CREDITORS
Amounts falling due within one year 6 4,086 24,985
NET CURRENT ASSETS 18,249 25,918
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,249

30,918

PROVISIONS FOR LIABILITIES - 950
NET ASSETS 18,249 29,968

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 18,248 29,967
SHAREHOLDERS' FUNDS 18,249 29,968

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

COLORXPRESS LIMITED (REGISTERED NUMBER: 04951639)
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Balance Sheet - continued
31st August 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th October 2023 and were signed by:





R K Smith - Director


COLORXPRESS LIMITED (REGISTERED NUMBER: 04951639)
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Notes to the Financial Statements
for the year ended 31st August 2023

1. STATUTORY INFORMATION

ColorXpress 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 represents revenue recognised in the financial statements. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services and excludes value added tax.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating lease commitments
Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

COLORXPRESS LIMITED (REGISTERED NUMBER: 04951639)
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Notes to the Financial Statements - continued
for the year ended 31st August 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st September 2022 53,711 1,137 54,848
Disposals (53,711 ) (1,137 ) (54,848 )
At 31st August 2023 - - -
DEPRECIATION
At 1st September 2022 48,711 1,137 49,848
Eliminated on disposal (48,711 ) (1,137 ) (49,848 )
At 31st August 2023 - - -
NET BOOK VALUE
At 31st August 2023 - - -
At 31st August 2022 5,000 - 5,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 666 8,856
Other debtors 47 -
Tax 1,799 -
VAT 1,920 -
Prepayments - 2,493
4,432 11,349

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 236
Trade creditors - 9,724
Tax - 5,463
Social security and other taxes 259 69
VAT - 906
Directors' current accounts 1,627 1,834
Accrued expenses 2,200 6,753
4,086 24,985

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R K Smith, the director who holds the share in issue.