Company Registration No. 09968751 (England and Wales)
Colourfast Renders Limited
Unaudited accounts
for the year ended 31 January 2024
Colourfast Renders Limited
Unaudited accounts
Contents
Colourfast Renders Limited
Company Information
for the year ended 31 January 2024
Company Number
09968751 (England and Wales)
Registered Office
Unit 19a Alston Road
Hellesdon Park
Norwich
NR6 5DS
Accountants
Accountancy Plus & Payroll People Ltd
9 Langley Street
Langley
Norwich
Norfolk
NR14 6DE
Colourfast Renders Limited
Statement of financial position
as at 31 January 2024
Tangible assets
36,765
42,804
Cash at bank and in hand
24,660
26,375
Creditors: amounts falling due within one year
(38,729)
(42,751)
Net current assets
12,902
31,398
Called up share capital
1
1
Profit and loss account
49,666
74,201
Shareholders' funds
49,667
74,202
For the year ending 31 January 2024 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 October 2024 and were signed on its behalf by
J Curson
Director
Company Registration No. 09968751
Colourfast Renders Limited
Notes to the Accounts
for the year ended 31 January 2024
Colourfast Renders Limited is a private company, limited by shares, registered in England and Wales, registration number 09968751. The registered office is Unit 19a Alston Road, Hellesdon Park, Norwich, NR6 5DS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The Directors have considered the Company's position at the time of signing of the financial statements, and based on this, the Directors have concluded that they have a reasonable expectation the Company will have adequate resources to continue in operation existence for the foreseeable future and there therefore continue to adopt the going concern basis of the accounting in preparing thee financial statements.
The company only enters into basic financial instrument transactions that result in recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18% reducing balance
Motor vehicles
18% reducing balance
Fixtures & fittings
18% reducing balance
Computer equipment
33% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Colourfast Renders Limited
Notes to the Accounts
for the year ended 31 January 2024
The Directors have considered the Company's position at the time of signing of the financial statements, and based on this, the Directors have concluded that they have a reasonable expectation the Company will have adequate resources to continue in operation existence for the foreseeable future and there therefore continue to adopt the going concern basis of the accounting in preparing thee financial statements.
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transactions costs, and are measure subsequently at amortised cost using the effective interest method.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2023
42,953
43,595
1,061
1,916
89,525
Additions
-
7,938
-
-
7,938
At 31 January 2024
42,953
51,533
1,061
1,916
97,463
At 1 February 2023
20,101
24,413
738
1,469
46,721
Charge for the year
5,713
7,858
81
325
13,977
At 31 January 2024
25,814
32,271
819
1,794
60,698
At 31 January 2024
17,139
19,262
242
122
36,765
At 31 January 2023
22,852
19,182
323
447
42,804
Amounts falling due within one year
Trade debtors
10,170
26,572
Colourfast Renders Limited
Notes to the Accounts
for the year ended 31 January 2024
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
19,824
1,844
Amounts owed to group undertakings and other participating interests
10,350
20,326
Taxes and social security
4,205
16,411
Other creditors
1,850
1,670
Loans from directors
2,500
2,500
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost share represents contributions payable by the Company the fund and amounted to £333 (2023: £Nil).
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Transactions with related parties
The company has taken advantage of the exemption in Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions with wholly owned companies within the group.
The ultimate parent undertaking is Colourfast Properties Limited, a company incorporated in the United Kingdom, whose registered office is Unit 19a Alston Road, Hellesdon Park, Norwich, NR6 5DS.
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Average number of employees
During the year the average number of employees was 3 (2023: 2).