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REGISTERED NUMBER: 03987550 (England and Wales)








REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

COLOREND LIMITED

COLOREND LIMITED (REGISTERED NUMBER: 03987550)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Report of the Director 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 8


COLOREND LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTOR: Mr M Morris





SECRETARY: Mr M Morris





REGISTERED OFFICE: Unit 1 Guinness Road
Trafford Park
Manchester
Lancashire
M17 1SD





REGISTERED NUMBER: 03987550 (England and Wales)





ACCOUNTANTS: Cadishead Accountancy Services Limited
Britannic House
657 Liverpool Road
Irlam
Manchester
Lancashire
M44 5XD

COLOREND LIMITED (REGISTERED NUMBER: 03987550)

REPORT OF THE DIRECTOR
for the Year Ended 31 July 2023

The director presents his report with the financial statements of the company for the year ended 31 July 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of building finishing and rendering.

DIRECTOR
Mr M Morris held office during the whole of the period from 1 August 2022 to the date of this report.

His beneficial interest in the shares of the company, according to the register of directors' interests, was as follows:

31.7.23 1.8.22
Ordinary shares of £1 each - 51

He did not hold any non-beneficial interests in the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr M Morris - Director


20 November 2023

COLOREND LIMITED (REGISTERED NUMBER: 03987550)

BALANCE SHEET
31 July 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 173,806 191,368

CURRENT ASSETS
Stocks 133,613 77,726
Debtors 5 563,825 900,828
Cash at bank 88,458 186,532
785,896 1,165,086
CREDITORS
Amounts falling due within one year 6 (237,614 ) (243,183 )
NET CURRENT ASSETS 548,282 921,903
TOTAL ASSETS LESS CURRENT
LIABILITIES

722,088

1,113,271

CREDITORS
Amounts falling due after more than one
year

7

(76,723

)

(90,370

)

PROVISIONS FOR LIABILITIES (40,952 ) (34,460 )
NET ASSETS 604,413 988,441

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 604,313 988,341
SHAREHOLDERS' FUNDS 604,413 988,441

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

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

COLOREND LIMITED (REGISTERED NUMBER: 03987550)

BALANCE SHEET - continued
31 July 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 20 November 2023 and were signed by:





Mr M Morris - Director


COLOREND LIMITED (REGISTERED NUMBER: 03987550)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Colorend 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% 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 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.

COLOREND LIMITED (REGISTERED NUMBER: 03987550)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 August 2022 10,000 132,316 218,396 360,712
Additions - 2,824 28,125 30,949
Disposals - - (9,950 ) (9,950 )
At 31 July 2023 10,000 135,140 236,571 381,711
DEPRECIATION
At 1 August 2022 - 90,904 78,440 169,344
Charge for year - 6,473 38,890 45,363
Eliminated on disposal - - (6,802 ) (6,802 )
At 31 July 2023 - 97,377 110,528 207,905
NET BOOK VALUE
At 31 July 2023 10,000 37,763 126,043 173,806
At 31 July 2022 10,000 41,412 139,956 191,368

COLOREND LIMITED (REGISTERED NUMBER: 03987550)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022 180,729
Additions 28,125
Disposals (9,950 )
At 31 July 2023 198,904
DEPRECIATION
At 1 August 2022 46,419
Charge for year 37,478
Eliminated on disposal (6,802 )
At 31 July 2023 77,095
NET BOOK VALUE
At 31 July 2023 121,809
At 31 July 2022 134,310

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 448,343 432,295
Amounts owed by group undertakings 87,352 -
Amounts owed by participating interests - 453,731
Other debtors 28,130 14,802
563,825 900,828

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 3,450 23,782
Hire purchase contracts (see note 8) 38,693 40,893
Trade creditors 146,839 152,634
Amounts owed to group undertakings 536 -
Taxation and social security 29,660 19,766
Other creditors 18,436 6,108
237,614 243,183

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts (see note 8) 76,723 90,370

COLOREND LIMITED (REGISTERED NUMBER: 03987550)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.7.23 31.7.22
£    £   
Net obligations repayable:
Within one year 38,693 40,893
Between one and five years 76,723 90,370
115,416 131,263

Non-cancellable operating leases
31.7.23 31.7.22
£    £   
Within one year 28,840 20,692
Between one and five years 100,940 10,346
129,780 31,038

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Hire purchase contracts 115,416 131,263

Assets held on hire purchase are secured on the assets to which they relate.

10. ULTIMATE CONTROLLING PARTY

The controlling party is MLM (999) Ltd..