REGISTERED NUMBER: |
Unicolour Limited |
Unaudited Financial Statements |
for the Year Ended 31st July 2024 |
REGISTERED NUMBER: |
Unicolour Limited |
Unaudited Financial Statements |
for the Year Ended 31st July 2024 |
Unicolour Limited (Registered number: 01802229) |
Contents of the Financial Statements |
for the Year Ended 31st July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Unicolour Limited |
Company Information |
for the Year Ended 31st July 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Unicolour Limited (Registered number: 01802229) |
Balance Sheet |
31st July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Unicolour Limited (Registered number: 01802229) |
Balance Sheet - continued |
31st July 2024 |
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 |
Unicolour Limited (Registered number: 01802229) |
Notes to the Financial Statements |
for the Year Ended 31st July 2024 |
1. | STATUTORY INFORMATION |
Unicolour Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown after trade discounts, other sales taxes and net of value added tax. Turnover is recognised on the delivery of goods to the customer. |
Revenue from the sale of goods is recognised when all the following conditions are satisfied: |
- | the company has transferred significant risks and rewards of ownership to the buyer; |
- | the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |
- | the amount of revenue can be measured reliably; |
- | it is probable that the company will receive consideration due under the transaction; and |
- | the costs incurred in respect of the transaction can be measured reliably. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation net of depreciation and any impairment losses. |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the income statement. |
Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. |
Unicolour Limited (Registered number: 01802229) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. |
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 the profit and loss account in the period to which they relate. |
Leasing commitments |
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st August 2023 |
and 31st July 2024 |
DEPRECIATION |
At 1st August 2023 |
Charge for year |
At 31st July 2024 |
NET BOOK VALUE |
At 31st July 2024 |
At 31st July 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Other debtors |
Unicolour Limited (Registered number: 01802229) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | SECURED DEBTS |
Bank facilities are secured by a debenture in favour of Lloyds Bank plc dated 1 October 1998 over the whole of the undertakings, property and assets of the company. At 31 July 2024 and 31 July 2023, there were no amounts outstanding owed to Lloyds Bank plc. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 31.7.23 |
value: | £ | £ |
Ordinary | £1 | 50,000 | 50,000 |
The ordinary shares are non-redeemable and have equal voting, dividend and capital rights. |
9. | CONTINGENT LIABILITIES |
The company has provided HM Revenue & Customs a guarantee of £318,000 in respect of the company's deferment of duty. |
10. | RELATED PARTY DISCLOSURES |
During the year, sales were made to an associated company totalling £216,982 (2023 - £468,924). No amounts amounts were outstanding at they year end (2023 - £133,629). |
During the year, or last year, Unicolour Limited purchased no goods and services from an associated company. No amounts were outstanding at the year end. |
During the year, the company paid a market rent totalling £28,000 (2023 - £27,100) to the Unicolour Limited Directors Special Pension Scheme. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is E M F Gleason. |