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REGISTERED NUMBER: 11899377 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Colorare Limited

Colorare Limited (Registered number: 11899377)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Colorare Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S J Thorne





REGISTERED OFFICE: Bank House
Southwick Square
Southwick
West Sussex
BN42 4FN





REGISTERED NUMBER: 11899377 (England and Wales)





ACCOUNTANTS: Style and Silver
Bank House
Southwick Square
Southwick
West Sussex
BN42 4FN

Colorare Limited (Registered number: 11899377)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,305 94,184

CURRENT ASSETS
Debtors 5 125,855 164,537
Cash at bank and in hand 626 2,468
126,481 167,005
CREDITORS
Amounts falling due within one year 6 109,548 152,042
NET CURRENT ASSETS 16,933 14,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,238

109,147

CREDITORS
Amounts falling due after more than one
year

7

29,750

65,508
NET ASSETS 40,488 43,639

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 40,486 43,637
SHAREHOLDERS' FUNDS 40,488 43,639

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Colorare Limited (Registered number: 11899377)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 28 February 2025 and were signed by:





S J Thorne - Director


Colorare Limited (Registered number: 11899377)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Colorare 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Colorare Limited (Registered number: 11899377)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 177,530
Additions 2,435
Disposals (47,450 )
At 31 March 2024 132,515
DEPRECIATION
At 1 April 2023 83,346
Charge for year 22,967
Eliminated on disposal (27,103 )
At 31 March 2024 79,210
NET BOOK VALUE
At 31 March 2024 53,305
At 31 March 2023 94,184

Colorare Limited (Registered number: 11899377)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 145,193
Disposals (47,450 )
At 31 March 2024 97,743
DEPRECIATION
At 1 April 2023 66,078
Charge for year 17,391
Eliminated on disposal (27,103 )
At 31 March 2024 56,366
NET BOOK VALUE
At 31 March 2024 41,377
At 31 March 2023 79,115

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 70,715 112,047
Other debtors 55,140 52,490
125,855 164,537

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 4,000 4,000
Hire purchase contracts 21,412 27,759
Trade creditors 50,488 62,677
Taxation and social security 23,199 13,878
Other creditors 10,449 43,728
109,548 152,042

Colorare Limited (Registered number: 11899377)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 6,333 10,333
Hire purchase contracts 23,417 55,175
29,750 65,508