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REGISTERED NUMBER: 01797348 (England and Wales)







Unaudited Financial Statements

for the Year Ended

25 December 2023

for

Colour Ribbons Limited

Colour Ribbons Limited (Registered number: 01797348)






Contents of the Financial Statements
for the Year Ended 25 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Colour Ribbons Limited (Registered number: 01797348)

Balance Sheet
25 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,051 15,490
Investments 6 66,930 66,930
73,981 82,420

CURRENT ASSETS
Stocks 431,816 435,921
Debtors 7 58,725 62,924
Cash at bank 163,838 195,418
654,379 694,263
CREDITORS
Amounts falling due within one year 8 407,737 483,017
NET CURRENT ASSETS 246,642 211,246
TOTAL ASSETS LESS CURRENT
LIABILITIES

320,623

293,666

CAPITAL AND RESERVES
Called up share capital 9 21,000 21,000
Share premium 10,500 10,500
Capital redemption reserve 31,500 31,500
Retained earnings 257,623 230,666
SHAREHOLDERS' FUNDS 320,623 293,666

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 25 December 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.

Colour Ribbons Limited (Registered number: 01797348)

Balance Sheet - continued
25 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 June 2024 and were signed on its behalf by:





G L Hopps - Director


Colour Ribbons Limited (Registered number: 01797348)

Notes to the Financial Statements
for the Year Ended 25 December 2023

1. STATUTORY INFORMATION

Colour Ribbons Limited is a private company, limited by shares, registered in England and Wales. The
company's registered number is 01797348 and the registered office address is Holmfield House,
Holdsworth Road, Holmfield, Halifax, HX3 6SN.

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention.

The functional and presentational currency of the company is considered to be pounds sterling.

Turnover
Turnover represents the value of goods invoiced and despatched to customers during the year, less returns, exclusive of value added tax.

Intangible assets
Development and software expenditure is written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects and assets. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the company is expected to benefit. The has been assessed as being three years. Provision is made for any impairment.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, at rates calculated to write off the cost less estimated residual value of each asset on a straight line basis over its expected useful life.

Plant and machinery etc2 - 5 years

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The need for any fixed asset impairment write down is assessed by comparison of the carrying value of the assets against the higher of realisable value and value in use.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Investments in subsidiaries
Investments are stated at cost less provisions to reflect any permanent diminution in value.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.


Colour Ribbons Limited (Registered number: 01797348)

Notes to the Financial Statements - continued
for the Year Ended 25 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

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

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 recognised in the profit and loss account.

Pension costs
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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, cash and bank balance, inter-company balances (being repayable on demand), other creditors and trade creditors, and are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Colour Ribbons Limited (Registered number: 01797348)

Notes to the Financial Statements - continued
for the Year Ended 25 December 2023

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Software
£   
COST
At 26 December 2022
and 25 December 2023 12,339
AMORTISATION
At 26 December 2022
and 25 December 2023 12,339
NET BOOK VALUE
At 25 December 2023 -
At 25 December 2022 -

Colour Ribbons Limited (Registered number: 01797348)

Notes to the Financial Statements - continued
for the Year Ended 25 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 26 December 2022
and 25 December 2023 96,884
DEPRECIATION
At 26 December 2022 81,394
Charge for year 8,439
At 25 December 2023 89,833
NET BOOK VALUE
At 25 December 2023 7,051
At 25 December 2022 15,490

6. FIXED ASSET INVESTMENTS
Shares in
subsidiary Other
undertakings investments Totals
£    £    £   
COST
At 26 December 2022
and 25 December 2023 66,930 100 67,030
PROVISIONS
At 26 December 2022
and 25 December 2023 - 100 100
NET BOOK VALUE
At 25 December 2023 66,930 - 66,930
At 25 December 2022 66,930 - 66,930

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 24,121 41,280
Amounts owed by group company 5,186 4,443
Other debtors 24,418 17,201
53,725 62,924

Amounts falling due after more than one year:
Other debtors 5,000 -

Aggregate amounts 58,725 62,924

Colour Ribbons Limited (Registered number: 01797348)

Notes to the Financial Statements - continued
for the Year Ended 25 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 28,001 20,429
Amounts owed to group undertakings 349,514 436,614
Taxation and social security 22,421 21,353
Other creditors 7,801 4,621
407,737 483,017

The bank has provided a guarantee of £25,000 (2022 - £25,000) in favour of HM Revenue & Customs, secured by a debenture comprising a fixed and floating charge over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
21,000 Ordinary £1 21,000 21,000

10. RELATED PARTY DISCLOSURES

13K Limited
Parent company

2023 2022
£ £
Amounts due to related party at the balance sheet 349,514 436,614
No interest has been charged on this balance.

11. PARENT COMPANY

The parent company is 13K Limited, a company incorporated in England and Wales. The registered
office of 13K Limited is Holly House Follifoot Lane, Spofforth, Harrogate, North Yorkshire, HG3 1AY.