6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 17,509 58,631 76,140 13,454 1,831 15,285 60,855 4,055 xbrli:pure xbrli:shares iso4217:GBP 07419371 2023-05-01 2024-04-30 07419371 2024-04-30 07419371 2023-04-30 07419371 2022-05-01 2023-04-30 07419371 2023-04-30 07419371 2022-04-30 07419371 bus:Director2 2023-05-01 2024-04-30 07419371 core:WithinOneYear 2024-04-30 07419371 core:WithinOneYear 2023-04-30 07419371 core:AfterOneYear 2024-04-30 07419371 core:AfterOneYear 2023-04-30 07419371 core:ShareCapital 2024-04-30 07419371 core:ShareCapital 2023-04-30 07419371 core:RetainedEarningsAccumulatedLosses 2024-04-30 07419371 core:RetainedEarningsAccumulatedLosses 2023-04-30 07419371 bus:SmallEntities 2023-05-01 2024-04-30 07419371 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 07419371 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07419371 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07419371 bus:FullAccounts 2023-05-01 2024-04-30 07419371 core:OfficeEquipment 2023-05-01 2024-04-30 07419371 core:OfficeEquipment 2023-04-30 07419371 core:OfficeEquipment 2024-04-30
COMPANY REGISTRATION NUMBER: 07419371
Tricolor Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2024
Tricolor Limited
Statement of Financial Position
30 April 2024
2024
2023
(restated)
Note
£
£
£
£
Fixed assets
Tangible assets
5
60,855
4,055
Current assets
Debtors
6
357,597
320,545
Cash at bank and in hand
4,343
72,076
---------
---------
361,940
392,621
Creditors: amounts falling due within one year
7
310,716
243,508
---------
---------
Net current assets
51,224
149,113
---------
---------
Total assets less current liabilities
112,079
153,168
Creditors: amounts falling due after more than one year
8
27,708
52,755
Provisions
10,870
131
---------
---------
Net assets
73,501
100,282
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
73,401
100,182
--------
---------
Shareholders funds
73,501
100,282
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tricolor Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
S V Dowd
Director
Company registration number: 07419371
Tricolor Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ground Floor, 3 Wellbrook Court, Girton, Cambridge, CB3 0NA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 3 ).
5. Tangible assets
Equipment
£
Cost
At 1 May 2023 (as restated)
17,509
Additions
58,631
--------
At 30 April 2024
76,140
--------
Depreciation
At 1 May 2023
13,454
Charge for the year
1,831
--------
At 30 April 2024
15,285
--------
Carrying amount
At 30 April 2024
60,855
--------
At 30 April 2023
4,055
--------
6. Debtors
2024
2023
(restated)
£
£
Trade debtors
174,405
192,711
Other debtors
183,192
127,834
---------
---------
357,597
320,545
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
25,048
24,825
Trade creditors
74,396
56,531
Social security and other taxes
142,405
111,185
Other creditors
68,867
50,967
---------
---------
310,716
243,508
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
27,708
52,755
--------
--------
9. Prior period errors
During the year the directors have reviewed the classification of items of expenditure and concluded it was appropriate to reclassify certain expenditure lines between cost of sales and administrative expenses. The comparative information has been restated to reflect the revised classification resulting in cost of sales being reduced by £49,253 and a corresponding increase in administrative expenses. There has been no overall adjustment to profit in the prior year.
10. Directors' advances, credits and guarantees
During the year the company made advances to and received repayments from the directors. Interest has been charged at the official HMRC rate on any overdrawn loan account balances, there are no repayment terms.
2024 2023
£ £
Advances 99,094 72,625
Repayments 68,872 78,886
Balance due from directors 134,255 104,033