Registered Number:02443090 |
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2023
Typocolor Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Typocolor Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
571,769
616,168
2
571,769
616,168
576,840
594,794
3
Trade and other receivables |
797,446
648,464
4
43,104
Cash and cash equivalents |
36,756
1,280,014
1,417,390
Trade and other payables: amounts falling due within one |
year |
(1,219,995)
(1,108,468)
5
197,395
171,546
Net current assets
Total assets less current liabilities |
743,315
813,563
Trade and other payables: amounts falling due after more |
than one year |
(560,126)
(441,771)
6
(4,361)
(3,521)
Provisions for liabilities |
297,183
Net assets
249,916
100
100
297,083
249,816
297,183
249,916
Shareholders' funds
For the year ended 31 December 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
1 of 5
For the year ended 31 December 2023
Typocolor Limited
Statement of Financial Position Continued
These financial statements were approved and authorised for issue by the Board on 16 May 2024 and were signed by: |
The notes form part of these financial statements |
2 of 5
For the year ended 31 December 2023
Typocolor Limited
Notes to the Financial Statements
Statutory Information
Typocolor Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 02443090. |
5 Prospect Place
Skelmersdale
Lancashire
WN8 9QD
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The disclosure requirements of Section1A of FRS102 have been applied other than where the |
additional disclosure is required to show a true and fair view. The financial statements have been prepared under the |
historical costs convention as modified by the revaluation of certain assets. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Sale of goods Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
25% and 5% Reducing balance |
Furniture and Fittings
Inventories
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment, Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the profit and loss account. |
Deferred tax
Deferred tax liabilites are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilies or other future taxable profits. |
3 of 5
For the year ended 31 December 2023
Typocolor Limited
Notes to the Financial Statements Continued
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 at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease. |
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
2. Property, plant and equipment |
1,046,634
75,051
971,583
971,583
75,051
1,046,634
Provision for depreciation and impairment |
430,466
53,646
376,820
Charge for year
44,399
39,048
5,351
474,865
92,694
382,171
589,412
(17,643)
571,769
594,763
21,405
616,168
Included within the net book value of £571,769 is £520,808 relating to assets held under hire purchase agreements.
2022
2023
594,794
576,840
4 of 5
For the year ended 31 December 2023
Typocolor Limited
Notes to the Financial Statements Continued
4. Trade and other receivables |
2022
2023
636,026
759,630
12,438
37,816
797,446
648,464
5. Trade and other payables: amounts falling due within one year |
2022
2023
428,078
569,710
336,519
400,856
Amounts owed to group undertaking and undertaking in which the |
company has a participating interest |
120,088
57,292
Taxation and social security |
78,630
63,619
145,153
128,518
1,108,468
1,219,995
Obligations under bank loans totaling £428,078 are secured upon the asset to which they relate. Included within other creditors is a secured creditor amount of £108,322 ( £108,316 :2022). The loan is secured over the asset to which it relates. |
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
Bank loans and overdraft (secured) |
14,621
24,054
427,150
536,072
441,771
560,126
Included within other creditors is a secured creditor amount of £226,015 (£334,337 : 2022). The loan is secured upon the asset to which it relates. None of the amounts due after more than one year are due after more than 5 years. |
7. Average number of persons employed |
During the year the average number of employees was 41 (2022 : 42)
8. Parent-subsidiary relationship |
The company's immediate parent is J and A Group Limited, incorporated in England and Wales.
5 of 5