Westcolour Limited 08009796 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is print, mailing and fulfilment services. Digita Accounts Production Advanced 6.30.9574.0 true 08009796 2023-06-01 2024-05-31 08009796 2024-05-31 08009796 core:RetainedEarningsAccumulatedLosses 2024-05-31 08009796 core:ShareCapital 2024-05-31 08009796 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 08009796 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 08009796 bus:SmallEntities 2023-06-01 2024-05-31 08009796 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08009796 bus:FullAccounts 2023-06-01 2024-05-31 08009796 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08009796 bus:RegisteredOffice 2023-06-01 2024-05-31 08009796 bus:Director2 2023-06-01 2024-05-31 08009796 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08009796 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 08009796 core:MotorVehicles 2023-06-01 2024-05-31 08009796 core:PlantMachinery 2023-06-01 2024-05-31 08009796 6 2023-06-01 2024-05-31 08009796 countries:EnglandWales 2023-06-01 2024-05-31 08009796 2023-05-31 08009796 2022-06-01 2023-05-31 08009796 2023-05-31 08009796 core:RetainedEarningsAccumulatedLosses 2023-05-31 08009796 core:ShareCapital 2023-05-31 08009796 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 08009796 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 08009796

Westcolour Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

Westcolour Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

Westcolour Limited

(Registration number: 08009796)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,755,772

1,763,478

Current assets

 

Stocks

5

167,772

209,819

Debtors

2,562,615

2,403,070

Cash at bank and in hand

 

717,865

294,307

 

3,448,252

2,907,196

Creditors: Amounts falling due within one year

(3,022,669)

(3,057,604)

Net current assets/(liabilities)

 

425,583

(150,408)

Total assets less current liabilities

 

2,181,355

1,613,070

Creditors: Amounts falling due after more than one year

(377,772)

(712,288)

Provisions for liabilities

(631,763)

(79,000)

Net assets

 

1,171,820

821,782

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

1,171,720

821,682

Total equity

 

1,171,820

821,782

For the financial year ending 31 May 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 of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

Mr James Lewis Ward

Director

 

Westcolour Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Victoria Business Park
Roche
St Austell
Cornwall
PL26 8LX

These financial statements were authorised for issue by the Board on 19 November 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Other grants

Income received in relation to grants are classified either as relating to revenue or to assets.
Grants relating to revenue are recognised in other income on a systematic basis over the periods in which the entity
recognises the related costs for which the grant is intended to compensate. Where a timing difference arises, the income is
held on the balance sheet. When received in arrears the expected income is recognises as a debtor so long as the relevant
conditions have been satisfied. When received in advance of costs, the income is held as deferred income and
systematically released to the profit and loss in the periods the cost is incurred.
Grants relating to assets are recognised initially as deferred income and released to other income on a systematic basis
over the expected useful life of the asset.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Westcolour Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

20% - Reducing Balance

Fixtures and Fittings

20% - Reducing Balance

Machinery

15 years - Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress 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, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Provisions

Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 4).

4

Tangible assets

Total
£

Cost or valuation

At 1 June 2023

2,357,536

Additions

198,000

Disposals

(82,772)

At 31 May 2024

2,472,764

Depreciation

At 1 June 2023

594,058

Charge for the year

162,380

Eliminated on disposal

(39,446)

At 31 May 2024

716,992

Carrying amount

At 31 May 2024

1,755,772

At 31 May 2023

1,763,478

5

Stocks

     

2024
£

2023
£

Stock

167,772

209,819