2023-01-01 02443090 2023-12-31 02443090 2023-01-01 2023-12-31 02443090 2022-12-31 02443090 2022-01-01 2022-12-31 02443090 uk-core:WithinOneYear 2022-12-31 02443090 uk-core:WithinOneYear 2023-12-31 02443090 uk-core:AfterOneYear 2022-12-31 02443090 uk-core:AfterOneYear 2023-12-31 02443090 uk-core:ShareCapital 2023-12-31 02443090 uk-core:ShareCapital 2022-12-31 02443090 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 02443090 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 02443090 uk-bus:Director1 2023-01-01 2023-12-31 02443090 uk-core:PlantMachinery 2023-01-01 2023-12-31 02443090 uk-core:FurnitureFittings 2023-01-01 2023-12-31 02443090 uk-core:FurnitureFittings 2022-12-31 02443090 uk-core:PlantMachinery 2022-12-31 02443090 uk-core:PlantMachinery 2023-12-31 02443090 uk-core:FurnitureFittings 2023-12-31 02443090 uk-core:WithinOneYear 2023-12-31 02443090 uk-core:WithinOneYear 2022-12-31 02443090 uk-core:WithinOneYear 2023-01-01 2023-12-31 02443090 uk-core:AfterOneYear 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure 02443090 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02443090 uk-bus:FRS102 2023-01-01 2023-12-31 02443090 uk-bus:FilletedAccounts 2023-01-01 2023-12-31 02443090 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Typocolor Limited
Registered Number:02443090
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2023
Typocolor Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
02443090
As at 31 December 2023
Typocolor Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
571,769
616,168
2
571,769
616,168
Current assets
Inventories
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
Capital and reserves
Called up share capital
100
100
Retained earnings
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.
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4
Registered Number :
02443090
For the year ended 31 December 2023
Typocolor Limited
Statement of Financial Position Continued
Andrew Holcroft Director
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
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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.
Registered address:
5 Prospect Place
Skelmersdale
Lancashire
WN8 9QD
The presentation currency is £ sterling.
1. Accounting policies
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
25% 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.
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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
Total
Furniture and
Fittings
Plant and
Machinery
£
£
£
Cost or
valuation
At 01 January 2023
1,046,634
75,051
971,583
At 31 December 2023
971,583
75,051
1,046,634
Provision for depreciation and impairment
At 01 January 2023
430,466
53,646
376,820
Charge for year
44,399
39,048
5,351
At 31 December 2023
474,865
92,694
382,171
At 31 December 2023
Net book value
589,412
(17,643)
571,769
At 31 December 2022
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.
3. Inventories
2022
2023
£
£
Stocks
594,794
576,840
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For the year ended 31 December 2023
Typocolor Limited
Notes to the Financial Statements Continued
4. Trade and other receivables
2022
2023
£
£
Trade debtors
636,026
759,630
Other debtors
12,438
37,816
797,446
648,464
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
428,078
569,710
Trade creditors
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
Other creditors
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
Other creditors
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.
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