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COMPANY REGISTRATION NUMBER: 03055369
Carbon Colour Company Limited
Filleted Unaudited Financial Statements
31 August 2024
Carbon Colour Company Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
117,616
97,978
Current assets
Stocks
143,693
103,332
Debtors
6
127,596
161,632
Cash at bank and in hand
217
652
---------
---------
271,506
265,616
Creditors: amounts falling due within one year
7
208,763
202,814
---------
---------
Net current assets
62,743
62,802
---------
---------
Total assets less current liabilities
180,359
160,780
Creditors: amounts falling due after more than one year
8
58,340
48,530
---------
---------
Net assets
122,019
112,250
---------
---------
Capital and reserves
Called up share capital
20
20
Profit and loss account
121,999
112,230
---------
---------
Shareholder funds
122,019
112,250
---------
---------
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 31 August 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Carbon Colour Company Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 15 May 2025 , and are signed on behalf of the board by:
Mr H N Allen
Director
Company registration number: 03055369
Carbon Colour Company Limited
Notes to the Financial Statements
Year ended 31 August 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 23-25 East Central, 127 Olympic Avenue, Milton Park, Abingdon, Oxon, OX14 4SA, England.
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.
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.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
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:
Leasehold Property
-
Straight line over the life of the lease
Plant and Machinery
-
10% straight line
Fixtures and Fittings
-
10% straight line
Motor Vehicles
-
25% reducing balance
Equipment
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2023: 13 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Sep 2023
7,155
153,903
23,219
66,250
71,918
322,445
Additions
46,744
3,664
50,408
Disposals
( 42,848)
( 1,034)
( 2,092)
( 45,974)
-------
---------
--------
--------
--------
---------
At 31 Aug 2024
7,155
157,799
22,185
66,250
73,490
326,879
-------
---------
--------
--------
--------
---------
Depreciation
At 1 Sep 2023
7,155
102,890
21,704
31,740
60,978
224,467
Charge for the year
10,983
281
8,628
3,625
23,517
Disposals
( 35,595)
( 1,034)
( 2,092)
( 38,721)
-------
---------
--------
--------
--------
---------
At 31 Aug 2024
7,155
78,278
20,951
40,368
62,511
209,263
-------
---------
--------
--------
--------
---------
Carrying amount
At 31 Aug 2024
79,521
1,234
25,882
10,979
117,616
-------
---------
--------
--------
--------
---------
At 31 Aug 2023
51,013
1,515
34,510
10,940
97,978
-------
---------
--------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
122,331
158,031
Other debtors
5,265
3,601
---------
---------
127,596
161,632
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
22,882
25,246
Trade creditors
79,534
85,230
Corporation tax
22,476
15,449
Social security and other taxes
50,146
49,620
Other creditors
33,725
27,269
---------
---------
208,763
202,814
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,645
19,913
Other creditors
48,695
28,617
--------
--------
58,340
48,530
--------
--------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
90,870
11,739
Later than 1 year and not later than 5 years
344,208
11,158
Later than 5 years
176,633
---------
--------
611,711
22,897
---------
--------