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31/12/2023
2023-12-31
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No description of principal activities is disclosed
2023-01-01
Sage Accounts Production 23.0 - FRS102_2021
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04321091
2023-01-01
2023-12-31
04321091
2023-12-31
04321091
2022-12-31
04321091
2022-01-01
2022-12-31
04321091
2022-12-31
04321091
2021-12-31
04321091
core:PlantMachinery
2023-01-01
2023-12-31
04321091
core:FurnitureFittingsToolsEquipment
2023-01-01
2023-12-31
04321091
core:MotorVehicles
2023-01-01
2023-12-31
04321091
bus:Director1
2023-01-01
2023-12-31
04321091
core:LandBuildings
core:ShortLeaseholdAssets
2022-12-31
04321091
core:PlantMachinery
2022-12-31
04321091
core:FurnitureFittingsToolsEquipment
2022-12-31
04321091
core:MotorVehicles
2022-12-31
04321091
core:LandBuildings
core:ShortLeaseholdAssets
2023-12-31
04321091
core:PlantMachinery
2023-12-31
04321091
core:FurnitureFittingsToolsEquipment
2023-12-31
04321091
core:MotorVehicles
2023-12-31
04321091
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2023-12-31
04321091
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2022-12-31
04321091
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2023-12-31
04321091
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2022-12-31
04321091
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core:ShortLeaseholdAssets
2023-01-01
2023-12-31
04321091
core:ShareCapital
2023-12-31
04321091
core:ShareCapital
2022-12-31
04321091
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2023-12-31
04321091
core:RetainedEarningsAccumulatedLosses
2022-12-31
04321091
core:LandBuildings
core:ShortLeaseholdAssets
2022-12-31
04321091
core:PlantMachinery
2022-12-31
04321091
core:FurnitureFittingsToolsEquipment
2022-12-31
04321091
core:MotorVehicles
2022-12-31
04321091
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2023-01-01
2023-12-31
04321091
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2023-01-01
2023-12-31
04321091
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2023-01-01
2023-12-31
04321091
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2023-01-01
2023-12-31
04321091
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2023-01-01
2023-12-31
04321091
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2023-01-01
2023-12-31
04321091
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2023-01-01
2023-12-31
Company registration number:
04321091
Colour Gro Limited
Unaudited financial statements
For the year ended
31 December 2023
Colour Gro Limited
Contents
Statement of financial position
Notes to the financial statements
Colour Gro Limited
Statement of financial position
31 December 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
3 |
445,171 |
|
|
|
333,399 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
445,171 |
|
|
|
333,399 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
573,580 |
|
|
|
540,809 |
|
|
Debtors |
|
4 |
135,553 |
|
|
|
123,643 |
|
|
Cash at bank and in hand |
|
|
16 |
|
|
|
43 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
709,149 |
|
|
|
664,495 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
5 |
(
427,952) |
|
|
|
(
489,863) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
281,197 |
|
|
|
174,632 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
726,368 |
|
|
|
508,031 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
6 |
|
|
(
455,551) |
|
|
|
(
228,595) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
|
|
|
|
|
Deferred taxation |
|
|
|
|
(
53,299) |
|
|
|
(
28,027) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
217,518 |
|
|
|
251,409 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
1,002 |
|
|
|
1,002 |
Profit and loss account |
|
|
|
|
216,516 |
|
|
|
250,407 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
217,518 |
|
|
|
251,409 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
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|
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
18 July 2024
, and are signed on behalf of the board by:
Mr D K Beadsmoore
Director
Company registration number:
04321091
Colour Gro Limited
Notes to the financial statements
Year ended 31 December 2023
1.
Accounting policies
Basis of preparation
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same financial statements.
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS 102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover
Turnover represents the amount derived from the provision of goods after the deduction of trade discounts and value added tax.
Tangible assets
Tangible fixed assets are included at cost less depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Short leasehold property |
- |
Straight line over the life of the lease or 20 years |
|
|
Plant and machinery |
- |
10 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
20 % |
reducing balance |
|
Motor vehicles |
- |
20 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost.
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in comprehensive income when due.
2.
Employee numbers
The average number of persons employed by the company during the year amounted to
35
(2022:
35
).
3.
Tangible assets
|
|
Short leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 January 2023 |
340,740 |
1,400,002 |
36,313 |
389,811 |
2,166,866 |
|
|
|
Additions |
- |
21,338 |
- |
179,450 |
200,788 |
|
|
|
Disposals |
- |
- |
- |
(
217,016) |
(217,016) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 December 2023 |
340,740 |
1,421,340 |
36,313 |
352,245 |
2,150,638 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 January 2023 |
208,816 |
1,287,762 |
27,128 |
309,762 |
1,833,468 |
|
|
|
Charge for the year |
10,541 |
13,354 |
1,837 |
49,055 |
74,787 |
|
|
|
Disposals |
- |
- |
- |
(
202,788) |
(202,788) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 December 2023 |
219,357 |
1,301,116 |
28,965 |
156,029 |
1,705,467 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 December 2023 |
121,383 |
120,224 |
7,348 |
196,216 |
445,171 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 December 2022 |
131,924 |
112,240 |
9,185 |
80,049 |
333,398
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
4.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
13,461 |
20,557 |
|
Other debtors |
|
122,092 |
103,086 |
|
|
|
_______ |
_______ |
|
|
|
135,553 |
123,643 |
|
|
|
_______ |
_______ |
|
|
|
|
|
5.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
208,820 |
192,237 |
|
Trade creditors |
|
121,770 |
209,758 |
|
Corporation tax |
|
- |
15,779 |
|
Taxation and social security |
|
28,478 |
14,059 |
|
Other creditors |
|
68,884 |
58,030 |
|
|
|
_______ |
_______ |
|
|
|
427,952 |
489,863 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank overdraft and loans are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.
6.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
365,798 |
202,549 |
|
Other creditors |
|
89,753 |
26,046 |
|
|
|
_______ |
_______ |
|
|
|
455,551 |
228,595 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The bank loans outstanding at the year end includes instalments due after more than five years of £85,133 (2021 - £113,491). These loans are secured by a fixed and floating charge on the assets of the company. The finance leases and hire purchase contracts are secured on the assets concerned.
7.
Pension commitments
The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held seperately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £1204 (2022 - £552) were due to the fund. They are included in other creditors.
8.
Directors advances, credits and guarantees
During the year the company made advances to
Mr D K Beadsmoore
, a director, totalling £20,009 (2022 - £Nil) No repayments were made by 31 December 2023 and so the balance outstanding at the year end, 31 December 2023 was £85,489 (2022 - £65,480). Where applicable, interest is charged on overdrawn loan accounts at the rate of 2% per annum to 5 April 2023 then 2.25% per annum thereafter, loans are repayable on demand.
9.
Related party transactions
Interest charged to directors and connected parties during the year ended 31 December 2023 amounted to £1,354 (2021- £1,822)