IRIS Accounts Production v23.4.0.336 06317948 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063179482022-12-31063179482023-12-31063179482023-01-012023-12-31063179482021-12-31063179482022-01-012022-12-31063179482022-12-3106317948ns15:EnglandWales2023-01-012023-12-3106317948ns14:PoundSterling2023-01-012023-12-3106317948ns10:Director12023-01-012023-12-3106317948ns10:Director22023-01-012023-12-3106317948ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106317948ns10:SmallEntities2023-01-012023-12-3106317948ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3106317948ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106317948ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106317948ns10:FullAccounts2023-01-012023-12-310631794812023-01-012023-12-3106317948ns10:Director42023-01-012023-12-3106317948ns10:Director52023-01-012023-12-3106317948ns10:CompanySecretary12023-01-012023-12-3106317948ns10:RegisteredOffice2023-01-012023-12-3106317948ns5:CurrentFinancialInstruments2023-12-3106317948ns5:CurrentFinancialInstruments2022-12-3106317948ns5:ShareCapital2023-12-3106317948ns5:ShareCapital2022-12-3106317948ns5:CapitalRedemptionReserve2023-12-3106317948ns5:CapitalRedemptionReserve2022-12-3106317948ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-3106317948ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3106317948ns5:RetainedEarningsAccumulatedLosses2023-12-3106317948ns5:RetainedEarningsAccumulatedLosses2022-12-3106317948ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3106317948ns5:NetGoodwill2022-12-3106317948ns5:NetGoodwill2023-01-012023-12-3106317948ns5:NetGoodwill2023-12-3106317948ns5:NetGoodwill2022-12-3106317948ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-3106317948ns5:FurnitureFittings2022-12-3106317948ns5:MotorVehicles2022-12-3106317948ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3106317948ns5:FurnitureFittings2023-01-012023-12-3106317948ns5:MotorVehicles2023-01-012023-12-3106317948ns5:ShortLeaseholdAssetsns5:LandBuildings2023-12-3106317948ns5:FurnitureFittings2023-12-3106317948ns5:MotorVehicles2023-12-3106317948ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-3106317948ns5:FurnitureFittings2022-12-3106317948ns5:MotorVehicles2022-12-3106317948ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3106317948ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 06317948 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COLTON PACKAGING LIMITED

COLTON PACKAGING LIMITED (REGISTERED NUMBER: 06317948)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COLTON PACKAGING LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mrs L E Colton-Smith
Mr A G Wilkinson
Mr R J Colton
Mr D Smith





SECRETARY: Mr R J Colton





REGISTERED OFFICE: 1 Hockey Close
Loughborough
Leicestershire
LE11 5GX





REGISTERED NUMBER: 06317948 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2
Charnwood Edge Business Park
Syston Road
Leicester
LE7 4UZ

COLTON PACKAGING LIMITED (REGISTERED NUMBER: 06317948)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 460,551 435,359
Investment property 6 1,418,257 1,418,257
1,878,808 1,853,616

CURRENT ASSETS
Stocks 636,831 732,119
Debtors 7 1,792,678 1,841,884
Cash at bank and in hand 1,192,550 790,516
3,622,059 3,364,519
CREDITORS
Amounts falling due within one year 8 (1,468,239 ) (1,409,287 )
NET CURRENT ASSETS 2,153,820 1,955,232
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,032,628

3,808,848

PROVISIONS FOR LIABILITIES (103,098 ) (94,157 )
NET ASSETS 3,929,530 3,714,691

CAPITAL AND RESERVES
Called up share capital 10,202 10,202
Capital redemption reserve 147,511 147,511
Fair value reserve 412,891 412,891
Retained earnings 3,358,926 3,144,087
3,929,530 3,714,691

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

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

COLTON PACKAGING LIMITED (REGISTERED NUMBER: 06317948)

BALANCE SHEET - continued
31 December 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 Board of Directors and authorised for issue on 21 March 2024 and were signed on its behalf by:




Mrs L E Colton-Smith - Director



Mr R J Colton - Director


COLTON PACKAGING LIMITED (REGISTERED NUMBER: 06317948)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Colton Packaging Limited is a limited company, limited by shares, registered in England and Wales. Its registered office address is 1 Hockey Close, Loughborough, Leicestershire, LE11 5GX and the registered number is 06317948.

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 amounts receivable for goods and services net of VAT and trade discounts and sales
commissions received on the sale of footwear as freight on board agents.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings short leaseholdOver the period of the lease
Fixtures and fittings15% reducing balance and 50% straight line
Motor vehicles25% reducing balance


The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks
over its estimated selling price is recognised as an impairment loss in profit or loss. Reversals of impairment
losses are also recognised in profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

COLTON PACKAGING LIMITED (REGISTERED NUMBER: 06317948)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related
parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments 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 26 (2022 - 24 ) .

COLTON PACKAGING LIMITED (REGISTERED NUMBER: 06317948)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 2,029,893
Disposals (2,029,893 )
At 31 December 2023 -
AMORTISATION
At 1 January 2023 2,029,893
Eliminated on disposal (2,029,893 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Short
leasehold Fixtures
land & and Motor
buildings fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 26,711 800,856 347,676 1,175,243
Additions - 26,064 96,100 122,164
At 31 December 2023 26,711 826,920 443,776 1,297,407
DEPRECIATION
At 1 January 2023 26,710 437,515 275,659 739,884
Charge for year - 76,708 20,264 96,972
At 31 December 2023 26,710 514,223 295,923 836,856
NET BOOK VALUE
At 31 December 2023 1 312,697 147,853 460,551
At 31 December 2022 1 363,341 72,017 435,359

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,418,257
NET BOOK VALUE
At 31 December 2023 1,418,257
At 31 December 2022 1,418,257

The investment property was valued on an open market basis on by the directors.

COLTON PACKAGING LIMITED (REGISTERED NUMBER: 06317948)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,443,234 1,756,351
Other debtors 310,000 60,000
Prepayments and accrued income 39,444 25,533
1,792,678 1,841,884

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,943 -
Trade creditors 945,931 1,023,762
Tax 289,184 192,121
Social security and other taxes 26,479 18,874
VAT 121,327 141,210
Accruals and deferred income 79,375 33,320
1,468,239 1,409,287