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REGISTERED NUMBER: 07223534 (England and Wales)















Colourcraft Autos Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2024






Colourcraft Autos Ltd (Registered number: 07223534)

Contents of the Financial Statements
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Colourcraft Autos Ltd

Company Information
for the year ended 30 April 2024







Director: J N Merritt





Registered office: Unit 3
New England Estate
Gascoine Road
Barking
Essex
IG11 7NZ





Registered number: 07223534 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Colourcraft Autos Ltd (Registered number: 07223534)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 304,742 382,977
304,742 382,977

Current assets
Stocks 46,410 130,983
Debtors 6 835,440 795,144
Cash at bank and in hand 87,978 107,749
969,828 1,033,876
Creditors
Amounts falling due within one year 7 818,914 818,853
Net current assets 150,914 215,023
Total assets less current liabilities 455,656 598,000

Creditors
Amounts falling due after more than one
year

8

(97,222

)

(141,385

)

Provisions for liabilities 10 (20,516 ) (30,199 )
Net assets 337,918 426,416

Capital and reserves
Called up share capital 11 100 100
Retained earnings 12 337,818 426,316
Shareholders' funds 337,918 426,416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Colourcraft Autos Ltd (Registered number: 07223534)

Balance Sheet - continued
30 April 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 31 March 2025 and were signed by:





J N Merritt - Director


Colourcraft Autos Ltd (Registered number: 07223534)

Notes to the Financial Statements
for the year ended 30 April 2024


1. Statutory information

Colourcraft Autos Ltd 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 comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over the life of the lease
Plant and machinery - 20% on reducing balance
Office equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

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.

Colourcraft Autos Ltd (Registered number: 07223534)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


3. Employees and directors

The average number of employees during the year was 19 (2023 - 19 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023
and 30 April 2024 69,000
Amortisation
At 1 May 2023
and 30 April 2024 69,000
Net book value
At 30 April 2024 -
At 30 April 2023 -

5. Tangible fixed assets
Short Plant and Motor Office
leasehold machinery vehicles equipment Totals
£ £ £ £ £
Cost
At 1 May 2023
and 30 April 2024 57,273 609,087 41,250 5,854 713,464
Depreciation
At 1 May 2023 38,144 269,989 8,250 14,104 330,487
Charge for year 2,165 67,820 8,250 - 78,235
At 30 April 2024 40,309 337,809 16,500 14,104 408,722
Net book value
At 30 April 2024 16,964 271,278 24,750 (8,250 ) 304,742
At 30 April 2023 19,129 339,098 33,000 (8,250 ) 382,977

6. Debtors
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 264,435 297,293
Other debtors 478,652 405,498
743,087 702,791

Colourcraft Autos Ltd (Registered number: 07223534)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


6. Debtors - continued
2024 2023
£ £
Amounts falling due after more than one year:
Other debtors 92,353 92,353

Aggregate amounts 835,440 795,144

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts (see note 9) 33,333 33,333
Trade creditors 298,360 328,006
Taxation and social security 418,537 391,556
Other creditors 68,684 65,958
818,914 818,853

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans (see note 9) 97,222 141,385

9. Loans

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 33,333 33,333

Amounts falling due between one and two years:
Bank loans - 1-2 years 66,666 66,666

Amounts falling due between two and five years:
Bank loans - 2-5 years 30,556 74,719

10. Provisions for liabilities
2024 2023
£ £
Deferred tax
Accelerated capital allowances 20,516 30,199

Colourcraft Autos Ltd (Registered number: 07223534)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


10. Provisions for liabilities - continued

Deferred tax
£
Balance at 1 May 2023 30,199
Credit to Income Statement during year (9,683 )
Balance at 30 April 2024 20,516

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

12. Reserves
Retained
earnings
£

At 1 May 2023 426,316
Deficit for the year (35,498 )
Dividends (53,000 )
At 30 April 2024 337,818

13. Ultimate controlling party

The ultimate controlling party is J N Merritt.