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REGISTERED NUMBER: 06529550 (England and Wales)














Unaudited Financial Statements for the Year Ended 30 June 2023

for

Vivid Finishes Ltd

Vivid Finishes Ltd (Registered number: 06529550)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vivid Finishes Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mr S G Cushing
Mr S Tigar





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: 06529550 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Vivid Finishes Ltd (Registered number: 06529550)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 30,226 43,022
30,226 43,022

CURRENT ASSETS
Stocks - 17,356
Debtors 6 3,270,881 2,402,931
Cash at bank and in hand 215,360 208,681
3,486,241 2,628,968
CREDITORS
Amounts falling due within one
year

7

2,957,356

2,113,966
NET CURRENT ASSETS 528,885 515,002
TOTAL ASSETS LESS CURRENT
LIABILITIES

559,111

558,024

CREDITORS
Amounts falling due after more
than one year

8

265,184

443,553
NET ASSETS 293,927 114,471

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 293,727 114,271
SHAREHOLDERS' FUNDS 293,927 114,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Vivid Finishes Ltd (Registered number: 06529550)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:




Mr S G Cushing - Director



Mr S Tigar - Director


Vivid Finishes Ltd (Registered number: 06529550)

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

1. STATUTORY INFORMATION

Vivid Finishes Ltd 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.

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
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
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

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.

Vivid Finishes Ltd (Registered number: 06529550)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Secured debt
Cynergy Business Finance Limited and Barclays Security Trustee Limited hold fixed and floating charges over the company's assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 16,000
AMORTISATION
At 1 July 2022
and 30 June 2023 16,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 18,841 79,553 39,319 137,713
Additions 425 - 2,466 2,891
Disposals - (40,774 ) - (40,774 )
At 30 June 2023 19,266 38,779 41,785 99,830
DEPRECIATION
At 1 July 2022 4,779 60,265 29,647 94,691
Charge for year 2,172 2,933 3,025 8,130
Eliminated on disposal - (33,217 ) - (33,217 )
At 30 June 2023 6,951 29,981 32,672 69,604
NET BOOK VALUE
At 30 June 2023 12,315 8,798 9,113 30,226
At 30 June 2022 14,062 19,288 9,672 43,022

Vivid Finishes Ltd (Registered number: 06529550)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. 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 July 2022 79,553
Disposals (40,774 )
At 30 June 2023 38,779
DEPRECIATION
At 1 July 2022 60,265
Charge for year 2,933
Eliminated on disposal (33,217 )
At 30 June 2023 29,981
NET BOOK VALUE
At 30 June 2023 8,798
At 30 June 2022 19,288

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 3,121,295 2,258,043
Other debtors 149,586 144,888
3,270,881 2,402,931

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 218,443 222,800
Hire purchase contracts 2,042 9,965
Trade creditors 962,750 876,214
Taxation and social security 181,213 146,936
Other creditors 1,592,908 858,051
2,957,356 2,113,966

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 265,184 422,840
Hire purchase contracts - 20,713
265,184 443,553

Vivid Finishes Ltd (Registered number: 06529550)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. RELATED PARTY DISCLOSURES

The Directors Mr S Cushing and Mr S Tigar are considered to be key management personnel.