Registered number
06785977
Direct Colour (UK) Limited
Filleted Accounts
31 December 2023
Direct Colour (UK) Limited
Registered number: 06785977
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 74,420 88,452
Investments 4 24,200 -
98,620 88,452
Current assets
Stocks 64,975 57,475
Debtors 5 60,686 100,533
Cash at bank and in hand 293,918 289,914
419,579 447,922
Creditors: amounts falling due within one year 6 (91,846) (90,803)
Net current assets 327,733 357,119
Total assets less current liabilities 426,353 445,571
Creditors: amounts falling due after more than one year 7 (27,137) (32,289)
Net assets 399,216 413,282
Capital and reserves
Called up share capital 8 8
Profit and loss account 399,208 413,274
Shareholders' funds 399,216 413,282
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
John Ledsom
Director
Approved by the board on 31 January 2024
Direct Colour (UK) Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 148,758 64,749 213,507
At 31 December 2023 148,758 64,749 213,507
Depreciation
At 1 January 2023 91,305 33,750 125,055
Charge for the year 6,282 7,750 14,032
At 31 December 2023 97,587 41,500 139,087
Net book value
At 31 December 2023 51,171 23,249 74,420
At 31 December 2022 57,453 30,999 88,452
4 Investments
Other
investments
£
Cost
Additions 24,200
At 31 December 2023 24,200
5 Debtors 2023 2022
£ £
Trade debtors 52,336 92,183
Other debtors 8,350 8,350
60,686 100,533
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,350 5,244
Trade creditors 44,625 42,582
Corporation tax 12,701 10,585
Other taxes and social security costs 11,013 15,705
Other creditors 18,157 16,687
91,846 90,803
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 6,812 12,162
Other creditors 20,325 20,127
27,137 32,289
8 Other information
Direct Colour (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite H The Old Dutch Barn
Westend Offices
Stonehouse
Glos.
GL10 3GE
Direct Colour (UK) Limited 06785977 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts July 2024 John Ledsom No description of principal activity 06785977 2022-01-01 2022-12-31 06785977 core:WithinOneYear 2022-12-31 06785977 core:AfterOneYear 2022-12-31 06785977 core:ShareCapital 2022-12-31 06785977 core:RetainedEarningsAccumulatedLosses 2022-12-31 06785977 2023-01-01 2023-12-31 06785977 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06785977 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06785977 bus:Director40 2023-01-01 2023-12-31 06785977 1 2023-01-01 2023-12-31 06785977 2 2023-01-01 2023-12-31 06785977 core:PlantMachinery 2023-01-01 2023-12-31 06785977 core:Vehicles 2023-01-01 2023-12-31 06785977 countries:England 2023-01-01 2023-12-31 06785977 bus:FRS102 2023-01-01 2023-12-31 06785977 bus:FilletedAccounts 2023-01-01 2023-12-31 06785977 2023-12-31 06785977 core:WithinOneYear 2023-12-31 06785977 core:AfterOneYear 2023-12-31 06785977 core:ShareCapital 2023-12-31 06785977 core:RetainedEarningsAccumulatedLosses 2023-12-31 06785977 core:PlantMachinery 2023-12-31 06785977 core:Vehicles 2023-12-31 06785977 core:AdditionsToInvestments 2023-12-31 06785977 2022-12-31 06785977 core:PlantMachinery 2022-12-31 06785977 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure