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REGISTERED NUMBER: 04215917 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

CHROMA VISION LIMITED

CHROMA VISION LIMITED (REGISTERED NUMBER: 04215917)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CHROMA VISION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mrs P L Baldwin
R A Aisthorpe
M C Kale
C Wood





REGISTERED OFFICE: John Baldwin House
Acorn Close
Five Oak Green
TONBRIDGE
Kent
TN12 6RH





REGISTERED NUMBER: 04215917 (England and Wales)





ACCOUNTANTS: Wells Associates
Ground Floor Oakhurst House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS

CHROMA VISION LIMITED (REGISTERED NUMBER: 04215917)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 233,549 128,620

CURRENT ASSETS
Stocks 129,248 88,830
Debtors 5 372,981 551,967
Cash at bank 1,110,984 894,244
1,613,213 1,535,041
CREDITORS
Amounts falling due within one year 6 (750,731 ) (803,523 )
NET CURRENT ASSETS 862,482 731,518
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,096,031

860,138

PROVISIONS FOR LIABILITIES (32,671 ) (12,116 )
NET ASSETS 1,063,360 848,022

CAPITAL AND RESERVES
Called up share capital 80 80
Other reserves 20 20
Retained earnings 1,063,260 847,922
SHAREHOLDERS' FUNDS 1,063,360 848,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by:





Mrs P L Baldwin - Director


CHROMA VISION LIMITED (REGISTERED NUMBER: 04215917)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Chroma Vision Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 41 ) .

CHROMA VISION LIMITED (REGISTERED NUMBER: 04215917)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 277,532 464,542 83,309 825,383
Additions 70,361 104,032 6,647 181,040
Disposals (50,898 ) (148,444 ) - (199,342 )
At 31 May 2024 296,995 420,130 89,956 807,081
DEPRECIATION
At 1 June 2023 237,619 412,863 46,281 696,763
Charge for year 20,725 37,991 6,882 65,598
Eliminated on disposal (44,132 ) (144,697 ) - (188,829 )
At 31 May 2024 214,212 306,157 53,163 573,532
NET BOOK VALUE
At 31 May 2024 82,783 113,973 36,793 233,549
At 31 May 2023 39,913 51,679 37,028 128,620

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 284,528 495,685
Other debtors 88,453 56,282
372,981 551,967

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 255,793 361,241
Taxation and social security 279,719 351,124
Other creditors 215,219 91,158
750,731 803,523