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Company No: 08399968 (England and Wales)

COLOUR DISTRIBUTION LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

COLOUR DISTRIBUTION LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

COLOUR DISTRIBUTION LIMITED

BALANCE SHEET

As at 30 April 2024
COLOUR DISTRIBUTION LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,812,712 983,280
Investments 4 481,088 948,464
2,293,800 1,931,744
Current assets
Stocks 5 128,593 150,602
Debtors 6 213,492 186,449
Cash at bank and in hand 600,835 598,871
942,920 935,922
Creditors: amounts falling due within one year 7 ( 437,712) ( 333,625)
Net current assets 505,208 602,297
Total assets less current liabilities 2,799,008 2,534,041
Creditors: amounts falling due after more than one year 8 ( 11,712) ( 21,667)
Provision for liabilities ( 14,559) ( 2,205)
Net assets 2,772,737 2,510,169
Capital and reserves
Called-up share capital 9 1 1
Profit and loss account 2,772,736 2,510,168
Total shareholders' funds 2,772,737 2,510,169

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Colour Distribution Limited (registered number: 08399968) were approved and authorised for issue by the Director on 18 December 2024. They were signed on its behalf by:

Mr J M Taylor
Director
COLOUR DISTRIBUTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
COLOUR DISTRIBUTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Colour Distribution Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Prince Albert House Quimperle Way, Liskeard Business Park, Liskeard, PL14 3US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Land and buildings Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 May 2023 1,015,478 12,792 30,630 1,058,900
Additions 852,454 0 8,246 860,700
At 30 April 2024 1,867,932 12,792 38,876 1,919,600
Accumulated depreciation
At 01 May 2023 37,357 12,792 25,471 75,620
Charge for the financial year 25,442 0 5,826 31,268
At 30 April 2024 62,799 12,792 31,297 106,888
Net book value
At 30 April 2024 1,805,133 0 7,579 1,812,712
At 30 April 2023 978,121 0 5,159 983,280

4. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 May 2023 948,464 948,464
Disposals ( 487,056) ( 487,056)
Movement in fair value 19,680 19,680
Others 0 0
At 30 April 2024 481,088 481,088
Carrying value at 30 April 2024 481,088 481,088
Carrying value at 30 April 2023 948,464 948,464

5. Stocks

2024 2023
£ £
Stocks 128,593 150,602

6. Debtors

2024 2023
£ £
Trade debtors 98,489 70,880
Amounts owed by director 3,926 23,409
Prepayments 1,913 1,454
VAT recoverable 0 12,726
Other debtors 109,164 77,980
213,492 186,449

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 236,295 237,655
Taxation and social security 188,011 77,155
Other creditors 3,406 8,815
437,712 333,625

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 11,712 21,667

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
96 Ordinary shares of £ 0.01 each 0.96 0.96
2 Ordinary A shares of £ 0.01 each 0.02 0.02
2 Ordinary B shares of £ 0.01 each 0.02 0.02
1.00 1.00

10. Related party transactions

Transactions with the entity's director

2024 2023
£ £
As at 1 May 23,409 9,019
Advances to director 16,191 28,828
Repayments by director (35,675) (14,438)
0 0
As at 30 April 3,926 23,409
0 0
0 0

Interest of 2.25% is charged on the above director's loan account.