United Colour Limited 04806296 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is manufacture of dyes and pigments Digita Accounts Production Advanced 6.30.9574.0 true 04806296 2022-07-01 2023-06-30 04806296 2023-06-30 04806296 bus:CompanySecretaryDirector1 1 2023-06-30 04806296 bus:OrdinaryShareClass1 bus:OtherShareType 2023-06-30 04806296 core:RetainedEarningsAccumulatedLosses 2023-06-30 04806296 core:ShareCapital 2023-06-30 04806296 core:CurrentFinancialInstruments 2023-06-30 04806296 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 04806296 core:Non-currentFinancialInstruments 2023-06-30 04806296 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 04806296 core:FurnitureFittingsToolsEquipment 2023-06-30 04806296 core:LandBuildings 2023-06-30 04806296 core:MotorVehicles 2023-06-30 04806296 core:OtherPropertyPlantEquipment 2023-06-30 04806296 bus:SmallEntities 2022-07-01 2023-06-30 04806296 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 04806296 bus:FullAccounts 2022-07-01 2023-06-30 04806296 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 04806296 bus:RegisteredOffice 2022-07-01 2023-06-30 04806296 bus:CompanySecretaryDirector1 2022-07-01 2023-06-30 04806296 bus:CompanySecretaryDirector1 1 2022-07-01 2023-06-30 04806296 bus:Director2 2022-07-01 2023-06-30 04806296 bus:OrdinaryShareClass1 bus:OtherShareType 2022-07-01 2023-06-30 04806296 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04806296 core:Buildings 2022-07-01 2023-06-30 04806296 core:ComputerEquipment 2022-07-01 2023-06-30 04806296 core:FurnitureFittings 2022-07-01 2023-06-30 04806296 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 04806296 core:LandBuildings 2022-07-01 2023-06-30 04806296 core:MotorVehicles 2022-07-01 2023-06-30 04806296 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 04806296 core:PlantMachinery 2022-07-01 2023-06-30 04806296 countries:England 2022-07-01 2023-06-30 04806296 2022-06-30 04806296 bus:CompanySecretaryDirector1 1 2022-06-30 04806296 core:FurnitureFittingsToolsEquipment 2022-06-30 04806296 core:LandBuildings 2022-06-30 04806296 core:MotorVehicles 2022-06-30 04806296 core:OtherPropertyPlantEquipment 2022-06-30 04806296 2021-07-01 2022-06-30 04806296 2022-06-30 04806296 bus:OrdinaryShareClass1 bus:OtherShareType 2022-06-30 04806296 core:RetainedEarningsAccumulatedLosses 2022-06-30 04806296 core:ShareCapital 2022-06-30 04806296 core:CurrentFinancialInstruments 2022-06-30 04806296 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 04806296 core:Non-currentFinancialInstruments 2022-06-30 04806296 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 04806296 core:FurnitureFittingsToolsEquipment 2022-06-30 04806296 core:LandBuildings 2022-06-30 04806296 core:MotorVehicles 2022-06-30 04806296 core:OtherPropertyPlantEquipment 2022-06-30 04806296 1 2022-06-30 04806296 1 2021-07-01 2022-06-30 04806296 1 2021-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04806296

United Colour Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

United Colour Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

United Colour Limited

Company Information

Directors

Mr M Yates

Mrs Teresa Yates

Company secretary

Mr M Yates

Registered office

Edensor Works
Greendock Street
Longton
Stoke On Trent
Staffordshire
ST3 2NA

Accountants

Winton Bath Group Limited
Chartered Accountants
First Floor
6 Ferranti Court
Staffordshire Technology Park
Stafford
Staffordshire
ST18 0LQ

 

United Colour Limited

(Registration number: 04806296)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fiixed assets

 

Tangible assets

4

273,912

283,053

Current assets

 

Stocks

5

79,276

62,007

Debtors

6

34,633

21,654

Cash at bank and in hand

 

315

7,971

 

114,224

91,632

Creditors: Amounts falling due within one year

7

(141,446)

(84,375)

Net current (liabilities)/assets

 

(27,222)

7,257

Total assets less current liabilities

 

246,690

290,310

Creditors: Amounts falling due after more than one year

7

(139,009)

(156,446)

Provisions for liabilities

(7,603)

(8,569)

Net assets

 

100,078

125,295

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

99,978

125,195

Shareholders' funds

 

100,078

125,295

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

United Colour Limited

(Registration number: 04806296)
Balance Sheet as at 30 June 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 March 2024 and signed on its behalf by:
 

.........................................
Mr M Yates
Company secretary and director

 

United Colour Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Edensor Works
Greendock Street
Longton
Stoke On Trent
Staffordshire
ST3 2NA

These financial statements were authorised for issue by the Board on 20 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

United Colour Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

1% on cost

Heavy plant and machinery

15% reducing balance

Laboratory, plant and machinery

15% on cost

Fixtures and fittings

15% on cost

Computer equipment

33% on cost

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

United Colour Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. The share capital disclosed on the balance sheet is allotted, called up and fully paid.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

United Colour Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

United Colour Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Laboratory, Plant & Machinery
£

Heavy Plant & Machinery
£

Total
£

Cost or valuation

At 1 July 2022

241,750

41,223

94,492

176,298

553,763

Additions

-

624

-

-

624

At 30 June 2023

241,750

41,847

94,492

176,298

554,387

Depreciation

At 1 July 2022

8,136

39,863

89,317

133,394

270,710

Charge for the year

1,162

986

1,182

6,435

9,765

At 30 June 2023

9,298

40,849

90,499

139,829

280,475

Carrying amount

At 30 June 2023

232,452

998

3,993

36,469

273,912

At 30 June 2022

233,614

1,360

5,175

42,904

283,053

Included within the net book value of land and buildings above is £232,452 (2022 - £233,614) in respect of freehold land and buildings.
 

 

United Colour Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Stocks

2023
£

2022
£

Other inventories

79,276

62,007

6

Debtors

Current

2023
£

2022
£

Trade debtors

17,202

12,875

Prepayments

16,433

8,779

Other debtors

998

-

 

34,633

21,654

 

United Colour Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

90,382

24,644

Trade creditors

 

30,120

35,980

Taxation and social security

 

12,532

13,185

Accruals and deferred income

 

3,298

2,897

Other creditors

 

5,114

7,669

 

141,446

84,375

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

139,009

156,446

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

139,009

156,446

 

United Colour Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

23,647

24,644

Bank overdrafts

66,735

-

90,382

24,644

The bank loan is secured by a charge over the freehold land and buildings Edensor Works, Greendock Street, Longton, ST3 2NA

10

Related party transactions

Transactions with directors

During the year an interest free loan was made to the director, Mr M Yates, the amount outstanding was as follows

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Mr M Yates

Directors loan account

(3,774)

44,055

(40,500)

(219)

         
       

 

2022

At 1 July 2021
£

Advances to director
£

Repayments by director
£

At 30 June 2022
£

Directors loan account

(6,320)

47,097

(44,551)

(3,774)