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REGISTERED NUMBER: 07223534 (England and Wales)















Colourcraft Autos Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2023






Colourcraft Autos Ltd (Registered number: 07223534)

Contents of the Financial Statements
for the year ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Colourcraft Autos Ltd

Company Information
for the year ended 30 April 2023







Director: J N Merritt





Registered office: Unit 3
New England Estate
Gascoine Road
Barking
Essex
IG11 7NZ





Registered number: 07223534 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Colourcraft Autos Ltd (Registered number: 07223534)

Balance Sheet
30 April 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 382,977 383,804
382,977 383,804

Current assets
Stocks 130,983 193,401
Debtors 6 795,144 628,081
Cash at bank and in hand 107,749 238,829
1,033,876 1,060,311
Creditors
Amounts falling due within one year 7 818,853 749,281
Net current assets 215,023 311,030
Total assets less current liabilities 598,000 694,834

Creditors
Amounts falling due after more than one
year

8

(141,385

)

(163,889

)

Provisions for liabilities 10 (30,199 ) (31,282 )
Net assets 426,416 499,663

Capital and reserves
Called up share capital 11 100 100
Retained earnings 12 426,316 499,563
Shareholders' funds 426,416 499,663

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Colourcraft Autos Ltd (Registered number: 07223534)

Balance Sheet - continued
30 April 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 director and authorised for issue on 5 September 2024 and were signed by:





J N Merritt - Director


Colourcraft Autos Ltd (Registered number: 07223534)

Notes to the Financial Statements
for the year ended 30 April 2023


1. Statutory information

Colourcraft Autos 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 comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over the life of the lease
Plant and machinery - 20% on reducing balance
Office equipment - 33% on cost

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

Going concern
Following the emergence and spread of the coronavirus (COVID-19) as well as its financial effects on business's worldwide the director has considered its effects on the business of the company and believe there are sufficient funds available for the business to continue.

3. Employees and directors

The average number of employees during the year was 19 (2022 - 16 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022
and 30 April 2023 69,000
Amortisation
At 1 May 2022
and 30 April 2023 69,000
Net book value
At 30 April 2023 -
At 30 April 2022 -

Colourcraft Autos Ltd (Registered number: 07223534)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


5. Tangible fixed assets
Short Plant and Motor Office
leasehold machinery vehicles equipment Totals
£ £ £ £ £
Cost
At 1 May 2022 57,273 471,698 41,250 5,854 576,075
Additions - 137,389 - - 137,389
At 30 April 2023 57,273 609,087 41,250 5,854 713,464
Depreciation
At 1 May 2022 35,979 142,188 8,250 5,854 192,271
Charge for year 2,165 127,801 - 8,250 138,216
At 30 April 2023 38,144 269,989 8,250 14,104 330,487
Net book value
At 30 April 2023 19,129 339,098 33,000 (8,250 ) 382,977
At 30 April 2022 21,294 329,510 33,000 - 383,804

6. Debtors
2023 2022
£ £
Amounts falling due within one year:
Trade debtors 297,293 364,151
Other debtors 405,498 171,577
702,791 535,728

Amounts falling due after more than one year:
Other debtors 92,353 92,353

Aggregate amounts 795,144 628,081

7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts (see note 9) 33,333 33,333
Trade creditors 328,006 195,758
Taxation and social security 391,556 428,726
Other creditors 65,958 91,464
818,853 749,281

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans (see note 9) 141,385 163,889

Colourcraft Autos Ltd (Registered number: 07223534)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


9. Loans

An analysis of the maturity of loans is given below:

2023 2022
£ £
Amounts falling due within one year or on demand:
Bank loans 33,333 33,333

Amounts falling due between one and two years:
Bank loans - 1-2 years 66,666 66,666

Amounts falling due between two and five years:
Bank loans - 2-5 years 74,719 97,223

10. Provisions for liabilities
2023 2022
£ £
Deferred tax
Accelerated capital allowances 30,199 31,282

Deferred tax
£
Balance at 1 May 2022 31,282
Utilised during year (1,083 )
Balance at 30 April 2023 30,199

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

12. Reserves
Retained
earnings
£

At 1 May 2022 499,563
Deficit for the year (43,247 )
Dividends (30,000 )
At 30 April 2023 426,316

Colourcraft Autos Ltd (Registered number: 07223534)

Notes to the Financial Statements - continued
for the year ended 30 April 2023


13. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£ £
J N Merritt
Balance outstanding at start of year 19,690 38,922
Amounts advanced 12,643 19,690
Amounts repaid (32,795 ) (38,922 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (462 ) 19,690

14. Ultimate controlling party

The ultimate controlling party is J N Merritt.