Company registration number 00364476 (England and Wales)
MARTIN COLOUR COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MARTIN COLOUR COMPANY LIMITED
CONTENTS
Page
Directors' responsibilities statement
1
Balance sheet
2
Notes to the financial statements
3 - 8
MARTIN COLOUR COMPANY LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 1 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

MARTIN COLOUR COMPANY LIMITED
BALANCE SHEET
AS AT
29 DECEMBER 2024
29 December 2024
- 2 -
29 December 2024
31 December 2023
Notes
£
£
£
£
Current assets
Stocks
3
36,762
23,845
Debtors
4
30,534
103,627
Cash at bank and in hand
50,346
26,929
117,642
154,401
Creditors: amounts falling due within one year
5
(31,387)
(70,154)
Net current assets
86,255
84,247
Capital and reserves
Called up share capital
6
16,264
16,264
Capital redemption reserve
6,936
6,936
Profit and loss reserves
63,055
61,047
Total equity
86,255
84,247

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 July 2025 and are signed on its behalf by:
JMA Fendek
MK Jones
Director
Director
Company registration number 00364476 (England and Wales)
MARTIN COLOUR COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Martin Colour Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fountain Street, Fenton, Stoke on Trent, Staffordshire, ST4 2HB.

1.1
Reporting period

The financial statements have been prepared for the period of 364 days, from 1 January 2024 to 29 December 2024. The comparative figures relate to the preceding accounting period of 364 days, from 2 January 2022 to 31 December 2023.

 

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.3
Going concern

Forecasts are prepared up to 31 July 2025 taking account of possible changes in trading performance. The directors, having assessed the forecasts and information available have determined it appropriate to adopt the going concern basis of accounting in preparing the annual financial statements. If in the event of any potential decrease in trade, the Company, can utilise group funds to manage cashflows. As a result, the directors have obtained support letters from the parent company to confirm this support will be provided. true

It is noted that the Group facilities are monitored by the parent of the group, James Kent (Consolidated) Limited, who act as a treasury function to the Company. The group meets its day-to-day working capital requirements through an invoice discounting facility together with its existing cash reserves and banking facilities including an available overdraft which is renewed annually in July. Management do not foresee any reason the overdraft would not be renewed going forward. The company is able to utilise these Group facilities for support as required.

1.4
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 net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Sale of colours, oxides and materials

Turnover is recognised when it and the associated costs can be measured reliably, future economic benefits are probable, and the risks and rewards of ownership have been transferred to the customer. Sales ofcolours, oxides and materials are recognised when goods are delivered and legal title has passed and the Company has no continuing managerial involvement associated with ownership or effective control of thegoods sold. This is generally when goods have been checked and accepted by the customer.

 

MARTIN COLOUR COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

MARTIN COLOUR COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12

Profit and loss reserve

The cumulative profit and loss net of distributions to owners.

1.13

Capital redemption reserve

The nominal value of shares repurchased and still held at the end of the reporting period.

1.14

Dividends

Dividends are recognised as liabilities once they are no longer at the discretion of the company.

MARTIN COLOUR COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 6 -
2
Employees

The number of directors employed by the Company in the year was 6 (1 January 2023:6). The directors were remunerated from other group companies. The employees utilised by the company during the period were employed under contract by James Kent (Ceramic Materials) Limited and the cost of these employees were recharged to the Company during the period.

The full time equivalent number of persons recharged during the period was as follows:

2024
2023
Number
Number
Total
6
6
3
Stocks
2024
2023
£
£
Raw materials and consumables
18,308
20,793
Work in progress
9,919
230
Finished goods and goods for resale
8,535
2,822
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
28,950
28,840
Amounts owed by group undertakings
1,584
74,787
30,534
103,627
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
329
1,366
Amounts owed to group undertakings
16,809
55,679
Corporation tax
8,668
5,240
Other taxation and social security
5,559
7,605
Other creditors
22
264
31,387
70,154
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
16,264
16,264
16,264
16,264
MARTIN COLOUR COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 7 -
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Karen Staley FCA BSc (Hons)
Statutory Auditor:
Geens Limited
Date of audit report:
18 July 2025
8
Financial commitments, guarantees and contingent liabilities

All group companies are members of a VAT group. At 29 December 2024 the VAT exposure of the VAT group excluding that of the Company was £nil 31 December 2023: £74,157).

The Company has a signed unlimited multilateral guarantee dated 22 June 2011 and a legal assignment over contract monies dated 14 November 2023. These are given by James Kent (Ceramic Materials) Limited, Martin Colour Company Limited, Cera Dynamics Limited, James Kent Consolidated Limited, James Kent Group Limited, P.E. Hines Limited and KMCI Limited with HSBC Bank plc.

HSBC Bank plc hold a debenture dated 23 June 2011 over the assets of the Company and a charge over contact monies.

HSBC Invoice Finance hold a fixed and floating charge over all current and future assets of the Company.

The Company also entered into a cross guarantee for National Westminster Bank Plc in respect of James Kent (Ceramic Materials) Limited, KMCI Limited, Cera Dynamics Limited, James Kent Consolidated Limited, P.E. Hines Limited and James Kent Group Limited.

The National Westminster Bank Plc holds an unscheduled mortgage debenture dated from 13 September 2012 incorporating a fixed and floating charge over all current and future assets of the Company.

The total exposure of the company to the charges and guarantees is £640,750 (31 December 2023: £701,547)

9
Parent company

The Company is a wholly owned subsidiary of James Kent Consolidated Limited, a Company incorporated in the United Kingdom. Its registered address is Fountain Street, Fenton, Stoke-onTrent, Staffordshire, ST4 2HB.

MARTIN COLOUR COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
9
Parent company
(Continued)
- 8 -

James Kent Consolidated Limited is the ultimate parent undertaking and is the largest and smallest group for which consolidated accounts, including Martin Colour Company Limited, are prepared.

 

The consolidated financial statements of James Kent Consolidated Limited are available to the public from Companies House, Mandy, Cardiff, CF12 3UZ.

 

There is no ultimate controlling party.

2024-12-292024-01-01falsefalsefalse18 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMrs A FendekMr J FendekMrs M JonesMr M JonesMrs D MayerSimon NashJMA Fendek003644762024-01-012024-12-29003644762024-12-29003644762023-12-3100364476core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-2900364476core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3100364476core:ShareCapital2024-12-2900364476core:ShareCapital2023-12-3100364476core:CapitalRedemptionReserve2024-12-2900364476core:CapitalRedemptionReserve2023-12-3100364476core:RetainedEarningsAccumulatedLosses2024-12-2900364476core:RetainedEarningsAccumulatedLosses2023-12-3100364476core:ShareCapitalOrdinaryShareClass12024-12-2900364476core:ShareCapitalOrdinaryShareClass12023-12-3100364476bus:CompanySecretaryDirector12024-01-012024-12-2900364476bus:Director32024-01-012024-12-29003644762023-01-022023-12-3100364476core:CurrentFinancialInstruments2024-12-2900364476core:CurrentFinancialInstruments2023-12-3100364476bus:OrdinaryShareClass12024-01-012024-12-2900364476bus:OrdinaryShareClass12024-12-2900364476bus:OrdinaryShareClass12023-12-3100364476bus:PrivateLimitedCompanyLtd2024-01-012024-12-2900364476bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-2900364476bus:FRS1022024-01-012024-12-2900364476bus:Audited2024-01-012024-12-2900364476bus:Director12024-01-012024-12-2900364476bus:Director22024-01-012024-12-2900364476bus:Director42024-01-012024-12-2900364476bus:Director52024-01-012024-12-2900364476bus:Director62024-01-012024-12-2900364476bus:CompanySecretary12024-01-012024-12-2900364476bus:FullAccounts2024-01-012024-12-29xbrli:purexbrli:sharesiso4217:GBP