IRIS Accounts Production v24.2.0.383 02658661 Board of Directors 1.12.22 30.11.23 30.11.23 the manufacture and distribution of industrial colouring agents. true true false true true false false false true false Ordinary 1.00000 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REGISTERED NUMBER: 02658661 (England and Wales)


















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

PRISMA COLOUR LIMITED

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 11

Notes to the Financial Statements 12


PRISMA COLOUR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: T W Johnson
A G Johnson
M Wood
Mrs H Collinson
R Heap
D Philpot
I Carroll
Miss S Furlong





SECRETARY: T W Johnson





REGISTERED OFFICE: Unit B
Thornsett Trading Estate
Birch Vale
High Peak
SK22 1AH





REGISTERED NUMBER: 02658661 (England and Wales)





AUDITORS: A.Allen & Son Limited
Chartered Accountants
& Statutory Auditors
45 Union Road
New Mills
High Peak
SK22 3EL

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023

Company Information
Prisma Colour Ltd is a private company limited by shares in England & Wales. The registered office is Unit B, Thornsett Trading Estate, Birch Vale, High Peak, SK22 1AH.

Principle Activities
Prisma Colour Ltd is a leading supplier of colour and additive concentrates for the plastic, rubber and packaging film industry. Additionally, we are a manufacturer of polymer powders for the rotational moulding industry.

Business Review
Our aim to present a balanced and comprehensive review of our business's development and performance throughout the year and at year-end.

Business Overview
The company prepares an annual budget and this becomes the key document against which the performance of the year is monitored. A combination of factors impacted profitability in the financial year. A shift in product mix and new business assisted in an improved revenue mix. This was assisted by the relentless cost control we continually focus on. Singularly we had renegotiated our energy purchasing arrangement which has had a strong impact year on year but with much more future flexibility to control. The business has a cost policy to both keep a high level of competitiveness and de-risk through internal efforts to ensure second and third sources of materials. Our commitment to addressing cost challenges, coupled with our sustained high level of customer retention, acquisition of new business, establishes a positive and promising outlook for the upcoming financial year.

The company recorded a pre-tax profit for the financial period of £3,063,286, compared to £1,896,191 in 2022. We continue to be financially strong and are managed in a prudent manner.

Turnover
2023 2022 2021
£23,587,802 £23,275,881 £18,700,237

The company continues to operate ISO 9001 and passed this year's assessment without any non-conformances.

Employees
Year ended 2023 total number of employees 94
Year ended 2022 total number of employees 86
Year ended 2021 total number of employees 88

The company continues to recruit skilled employees, along with investment in training for all areas of human resource in the business. Apprenticeship schemes are taken on wherever possible.

Key Performance Indicators
The key performance indicators which the company focus on are:
Revenue
Volume
Value Added Margin
Working Capital
Operating Cash Flow.
The company met all its expected KPI's during the year and will continue to do so by ensuring it remains our priority to ensure the growth of Prisma Colour sales into new and existing markets. This will be achieved by continuing our investment in skilled employees, equipment & manufacturing processes to meet the needs of the business.

Research and Development
The company continues to invest in our internal expertise, allowing for the required detailed research and development into new products and processes. This has enabled us to continue to explore new diverse opportunities within the global market.






PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023




Environmental Policy
The company continues to recognise the importance of its environmental responsibilities and attempts to minimize its impact on the environment. We continue to work towards being a more sustainable business, including safe recycling & the use where possible of recycled plastics. All company sites were moved during the year to the use of 100% green renewable electric. We remain compliant with all other current legislation.

ON BEHALF OF THE BOARD:





T W Johnson - Director


21 August 2024

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 NOVEMBER 2023

The directors present their report with the financial statements of the company for the year ended 30 November 2023.

DIVIDENDS
The total distribution of dividends for the year ended 30th November 2021 will be £1,209,408 (2022 - £715,609)

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2022 to the date of this report.

T W Johnson
A G Johnson
M Wood
Mrs H Collinson
R Heap
D Philpot
I Carroll
Miss S Furlong

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, A.Allen & Son Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





T W Johnson - Director


21 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PRISMA COLOUR LIMITED

Opinion
We have audited the financial statements of Prisma Colour Limited (the 'company') for the year ended 30 November 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 November 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PRISMA COLOUR LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PRISMA COLOUR LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our audit procedures were designed to respond to those identified risks, including non compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our Audit procedures include but are not limited to:


discussing with the directors and management their policies and procedures regarding compliance with laws
and regulations:


communicating identified laws and regulations throughout our engagement team and remaining alert to any
indications on non compliance throughout our audit.

Our audit procedures in relation to fraud included but were not limited to:


marking enquires of the directors and management on whether they had knowledge of any actual, suspected or
alleged fraud:

gaining an understanding of the internal controls established to mitigate risks related to fraud:

discussing amongst the engagement team the risk of fraud; and

addressing the risk of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentation or override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Darren Cooper BA (Hons) FCA CTA (Senior Statutory Auditor)
for and on behalf of A.Allen & Son Limited
Chartered Accountants
& Statutory Auditors
45 Union Road
New Mills
High Peak
SK22 3EL

21 August 2024

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2023

30/11/23 30/11/22
Notes £    £   

TURNOVER 3 23,587,802 23,275,881

Cost of sales 18,307,069 19,290,554
GROSS PROFIT 5,280,733 3,985,327

Administrative expenses 2,418,734 2,152,668
2,861,999 1,832,659

Other operating income 215,000 93,500
OPERATING PROFIT 5 3,076,999 1,926,159

Interest receivable and similar income 31,837 2,034
3,108,836 1,928,193

Interest payable and similar expenses 6 45,550 32,002
PROFIT BEFORE TAXATION 3,063,286 1,896,191

Tax on profit 7 590,208 330,621
PROFIT FOR THE FINANCIAL YEAR 2,473,078 1,565,570

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,473,078

1,565,570

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

BALANCE SHEET
30 NOVEMBER 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - 20,080
Tangible assets 10 1,530,345 1,552,055
Investments 11 876,960 876,960
2,407,305 2,449,095

CURRENT ASSETS
Stocks 12 2,372,337 3,240,885
Debtors 13 7,571,443 8,015,794
Cash at bank and in hand 4,878,566 3,010,603
14,822,346 14,267,282
CREDITORS
Amounts falling due within one year 14 5,373,865 5,779,732
NET CURRENT ASSETS 9,448,481 8,487,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,855,786

10,936,645

CREDITORS
Amounts falling due after more than one
year

15

(342,619

)

(628,126

)

PROVISIONS FOR LIABILITIES 19 (349,024 ) (358,018 )
NET ASSETS 11,164,143 9,950,501

CAPITAL AND RESERVES
Called up share capital 20 10,000 10,000
Capital redemption reserve 21 15,000 15,000
Retained earnings 21 11,139,143 9,925,501
SHAREHOLDERS' FUNDS 11,164,143 9,950,501

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

BALANCE SHEET - continued
30 NOVEMBER 2023


The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





T W Johnson - Director


PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 December 2021 10,000 9,075,540 15,000 9,100,540

Changes in equity
Dividends - (715,609 ) - (715,609 )
Total comprehensive income - 1,565,570 - 1,565,570
Balance at 30 November 2022 10,000 9,925,501 15,000 9,950,501

Changes in equity
Dividends - (1,259,436 ) - (1,259,436 )
Total comprehensive income - 2,473,078 - 2,473,078
Balance at 30 November 2023 10,000 11,139,143 15,000 11,164,143

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Prisma Colour 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Turnover
Turnover represents net invoiced sale of goods, excluding value added tax. Turnover is recognised when the goods have been dispatched, and confirmation of delivery has been obtained.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is now fully amortised.

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.
Freehold property - 2% on cost
Electrical installation and distribution - 20% on reducing balance
Improvements to property - 10% on cost and 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Investments in subsidiaries
Investments in subsidiaries are accounted for at cost less impairment in the individual financial statements.

The company is exempt from preparing consolidated accounts as it is itself a wholly owned subsidiary of Prisma Colour (Holdings) Limited.

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 Statement of Comprehensive Income, 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.

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

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


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

30/11/23 30/11/22
£    £   
United Kingdom 20,285,510 20,166,906
Europe 1,839,848 1,825,386
Rest of the world 1,462,444 1,283,589
23,587,802 23,275,881

4. EMPLOYEES AND DIRECTORS
30/11/23 30/11/22
£    £   
Wages and salaries 2,933,633 2,831,692
Social security costs 276,572 295,499
Other pension costs 152,561 158,841
3,362,766 3,286,032

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
30/11/23 30/11/22

Average number of employees 94 86

30/11/23 30/11/22
£    £   
Directors' remuneration 490,399 483,152
Directors' pension contributions to money purchase schemes 91,101 98,102

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 7 7

Information regarding the highest paid director is as follows:
30/11/23 30/11/22
£    £   
Emoluments etc 104,629 101,625
Pension contributions to money purchase schemes 25,460 42,460

5. OPERATING PROFIT

The operating profit is stated after charging:

30/11/23 30/11/22
£    £   
Hire of plant and machinery 4,186 5,200
Other operating leases 99,136 92,379
Depreciation - owned assets 362,210 375,802
Goodwill amortisation 20,080 20,080
Auditors' remuneration 14,750 16,041

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30/11/23 30/11/22
£    £   
Bank loan interest 45,550 32,002

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30/11/23 30/11/22
£    £   
Current tax:
UK corporation tax 599,203 241,726

Deferred tax (8,995 ) 88,895
Tax on profit 590,208 330,621

UK corporation tax has been charged at 25% (2022 - 19%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30/11/23 30/11/22
£    £   
Profit before tax 3,063,286 1,896,191
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

765,822

360,276

Effects of:
Expenses not deductible for tax purposes 28,597 12,090
Depreciation in excess of capital allowances 10,802 75,789
R & D enhanced deduction (162,500 ) (113,990 )
Tax rate change (51,795 ) -
Fixed asset additions none FYA (12,555 ) -
Pensions paid 12,250 (3,230 )
Buildings and structures allowance (413 ) (314 )
Total tax charge 590,208 330,621

8. DIVIDENDS
30/11/23 30/11/22
£    £   
Ordinary shares of £1 each
Ordinary - paid 1,259,436 715,609

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 100,400
AMORTISATION
At 1 December 2022 80,320
Amortisation for year 20,080
At 30 November 2023 100,400
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 20,080

10. TANGIBLE FIXED ASSETS
Electrical
installation Improvements
Freehold and to Plant and
property distribution property machinery
£    £    £    £   
COST
At 1 December 2022 15,606 533,227 80,300 2,614,565
Additions - 17,825 30,000 281,804
At 30 November 2023 15,606 551,052 110,300 2,896,369
DEPRECIATION
At 1 December 2022 4,995 287,367 12,180 1,475,898
Charge for year 312 52,737 2,235 284,757
At 30 November 2023 5,307 340,104 14,415 1,760,655
NET BOOK VALUE
At 30 November 2023 10,299 210,948 95,885 1,135,714
At 30 November 2022 10,611 245,860 68,120 1,138,667

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

10. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 179,561 53,770 82,872 3,559,901
Additions 9,464 - 1,407 340,500
At 30 November 2023 189,025 53,770 84,279 3,900,401
DEPRECIATION
At 1 December 2022 116,949 31,683 78,774 2,007,846
Charge for year 14,415 4,418 3,336 362,210
At 30 November 2023 131,364 36,101 82,110 2,370,056
NET BOOK VALUE
At 30 November 2023 57,661 17,669 2,169 1,530,345
At 30 November 2022 62,612 22,087 4,098 1,552,055

11. FIXED ASSET INVESTMENTS
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 100 876,860 876,960
NET BOOK VALUE
At 30 November 2023 100 876,860 876,960
At 30 November 2022 100 876,860 876,960

The company's investments at the Balance Sheet date in the share capital of companies include the following:


Prisma Rubber Additives Limited
Registered office: United Kingdom
Nature of business: Manufacture of rubber chemicals.
%
Class of shares: holding
Ordinary 100.00
30/11/23 30/11/22
£    £   
Aggregate capital and reserves 1,251,699 990,093
Profit for the year 261,606 256,223

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

12. STOCKS
30/11/23 30/11/22
£    £   
Stocks 2,372,337 3,240,885

Stock recognised in cost of sales during the year as an expense was £2,372,337 (2022 - £3,240,885)

13. DEBTORS
30/11/23 30/11/22
£    £   
Amounts falling due within one year:
Trade debtors 3,939,334 4,319,600
Maine Commercial Property
Limited - 61,608
Other debtors 1,054,632 904,600
Prepayments and accrued income 74,977 84,670
5,068,943 5,370,478

Amounts falling due after more than one year:
Amounts owed by group undertakings 2,502,500 2,645,316

Aggregate amounts 7,571,443 8,015,794

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Bank loans and overdrafts (see note 16) 285,507 282,776
Trade creditors 3,513,093 4,456,720
Tax 428,009 178,807
Social security and other taxes 61,229 61,423
Pension & attachment creditor 19,210 16,735
VAT 389,179 246,728
Other creditors 273,852 337,545
Directors' loan accounts - 630
Accrued expenses 403,786 198,368
5,373,865 5,779,732

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/11/23 30/11/22
£    £   
Bank loans (see note 16) 225,952 285,507
Other loans (see note 16) 116,667 342,619
342,619 628,126

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

16. LOANS

An analysis of the maturity of loans is given below:

30/11/23 30/11/22
£    £   
Amounts falling due within one year or on demand:
Lombard loan < 1 year 85,507 82,776
CBIL < 1 year 200,000 200,000
285,507 282,776

Amounts falling due between one and two years:
CBIL 1 - 2 years 200,000 200,000
Lombard loan 1 - 2 years 25,952 85,507
225,952 285,507

Amounts falling due between two and five years:
Lombard loan 2 - 5 years - 25,952
Nat West CBIL 2 - 5 years 116,667 316,667
116,667 342,619

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30/11/23 30/11/22
£    £   
Within one year 72,112 53,106
Between one and five years 80,832 61,614
In more than five years 294,996 203,456
447,940 318,176

18. SECURED DEBTS

The bank holds a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, plant and machinery.

19. PROVISIONS FOR LIABILITIES
30/11/23 30/11/22
£    £   
Deferred tax
Capital allowances in excess of depreciation 349,024 358,018

Deferred
tax
£   
Balance at 1 December 2022 358,018
Movement in the year (8,994 )
Balance at 30 November 2023 349,024

PRISMA COLOUR LIMITED (REGISTERED NUMBER: 02658661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/11/23 30/11/22
value: £    £   
10,000 Ordinary £1 10,000 10,000

21. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 December 2022 9,925,501 15,000 9,940,501
Profit for the year 2,473,078 2,473,078
Dividends (1,259,436 ) (1,259,436 )
At 30 November 2023 11,139,143 15,000 11,154,143

22. RELATED PARTY DISCLOSURES

Prisma Colour Holdings Limited
Owns 100% of the share capital in Prisma Colour Limited.

During the year Prisma Colour Limited paid dividends of £1,259,436 (2022 - £715,609) to Prisma Colour Holdings Limited.
The amount due to the related party at the balance sheet date was £2,502,500 (2022 - £2,502,500).


Related party transactions
During the year the company made sales to related parties on normal trading terms of £693,489 (2022 - £484,717).
During the year the company purchased goods and services from related parties on normal trading terms of
£877,387 (2022 - £898,965).
The amount due to the related parties at the year end was £10,002 (2021 - £614,856).


Loans
During the year the company made loans to related parties of £266,814 (2022 - £163,000).
The amount due from the related parties at the balance sheet date was £488164 (2022 - £221,350)

23. ULTIMATE CONTROLLING PARTY

Prisma Colour is a wholly owned subsidiary of Prisma Colour (Holdings) Limited.
Tim Johnson, together with his wife, owns 82% of the shareholding in Prisma Colour (Holdings) Limited is the ultimate controlling party.