Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31falsefalse2024-01-01falseNo description of principal activity1413true 06974735 2024-01-01 2024-12-31 06974735 2023-01-01 2023-12-31 06974735 2024-12-31 06974735 2023-12-31 06974735 c:Director1 2024-01-01 2024-12-31 06974735 d:MotorVehicles 2024-01-01 2024-12-31 06974735 d:MotorVehicles 2024-12-31 06974735 d:MotorVehicles 2023-12-31 06974735 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06974735 d:FurnitureFittings 2024-01-01 2024-12-31 06974735 d:FurnitureFittings 2024-12-31 06974735 d:FurnitureFittings 2023-12-31 06974735 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06974735 d:OfficeEquipment 2024-01-01 2024-12-31 06974735 d:OfficeEquipment 2024-12-31 06974735 d:OfficeEquipment 2023-12-31 06974735 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06974735 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06974735 d:CurrentFinancialInstruments 2024-12-31 06974735 d:CurrentFinancialInstruments 2023-12-31 06974735 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 06974735 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06974735 d:ShareCapital 2024-12-31 06974735 d:ShareCapital 2023-12-31 06974735 d:RetainedEarningsAccumulatedLosses 2024-12-31 06974735 d:RetainedEarningsAccumulatedLosses 2023-12-31 06974735 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 06974735 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06974735 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 06974735 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 06974735 c:OrdinaryShareClass1 2024-01-01 2024-12-31 06974735 c:OrdinaryShareClass1 2024-12-31 06974735 c:OrdinaryShareClass1 2023-12-31 06974735 c:FRS102 2024-01-01 2024-12-31 06974735 c:Audited 2024-01-01 2024-12-31 06974735 c:FullAccounts 2024-01-01 2024-12-31 06974735 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06974735 d:WithinOneYear 2024-12-31 06974735 d:WithinOneYear 2023-12-31 06974735 d:BetweenOneFiveYears 2024-12-31 06974735 d:BetweenOneFiveYears 2023-12-31 06974735 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06974735 2 2024-01-01 2024-12-31 06974735 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 06974735









GMG COLOR LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
GMG COLOR LIMITED
REGISTERED NUMBER: 06974735

BALANCE SHEET
AS AT 31 DECEMBER 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
124,712
128,981

  
124,712
128,981

Current assets
  

Stocks
 5 
446,219
346,717

Debtors: amounts falling due within one year
 6 
1,619,152
1,376,609

Cash at bank and in hand
  
1,113,175
1,229,471

  
3,178,546
2,952,797

Creditors: amounts falling due within one year
 7 
(1,884,278)
(1,925,165)

Net current assets
  
 
 
1,294,268
 
 
1,027,632

Total assets less current liabilities
  
1,418,980
1,156,613

Provisions for liabilities
  

Deferred tax
 8 
-
(10,875)

  
 
 
-
 
 
(10,875)

Net assets
  
1,418,980
1,145,738


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
1,418,880
1,145,638

  
1,418,980
1,145,738


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 August 2025.

................................................
R Weihing
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
GMG COLOR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

GMG Color Limited is a private company, limited by shares, incorporated in England and Wales, registration number 06974735. The registered office is Anglia House, 6 Central Avenue, St Andrew's Business Park, Thorpe St Andrew, Norwich, NR7 0HR.
The principal activity of the company in the year under review was that of providing software, equipment and consumables to the print industry.
The financial statements are rounded to the nearest pound.
The following principal accounting policies have been applied in the preparation of these financial statements. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The director is continually assessing the impact of the current economic climate. They have not encountered any major adverse impacts and are continuing to trade in line with expectations. 
Current management information shows that the company still has significant cash and reserves and this has enabled the director to confirm the going concern basis of accounting remains appropriate. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 2

 
GMG COLOR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Sale of Subscriptions, Support and Plug In's
Revenue from subscription services is recognised on a straight-line basis over the term of the subscription, which reflects the pattern in which the performance obligations are satisfied. The subscription typically includes access to updates and customer support, delivered continuously throughout the subscription period. Amounts received in advance of the service period are recorded as deferred income in the balance sheet.
Media and Consumables
Media and consumables are recognised at point of despatch.
Software
Software, which represents the sale of a dongle, is recognised at point of despatch. 

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
GMG COLOR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
GMG COLOR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Fixtures and fittings
-
25%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
GMG COLOR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees during the year was 14 (2023 - 13).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
121,662
18,403
63,796
203,861


Additions
39,551
7,600
47,116
94,267


Disposals
(81,667)
-
-
(81,667)



At 31 December 2024

79,546
26,003
110,912
216,461



Depreciation


At 1 January 2024
33,276
6,307
35,297
74,880


Charge for the year on owned assets
25,975
5,616
23,763
55,354


Disposals
(38,485)
-
-
(38,485)



At 31 December 2024

20,766
11,923
59,060
91,749



Net book value



At 31 December 2024
58,780
14,080
51,852
124,712



At 31 December 2023
88,386
12,096
28,499
128,981

Page 6

 
GMG COLOR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
446,219
346,717



6.


Debtors

As restated
2024
2023
£
£


Trade debtors
1,067,273
1,023,568

Other debtors
117,005
6,375

Prepayments and accrued income
434,597
346,666

Deferred taxation
277
-

1,619,152
1,376,609



7.


Creditors: Amounts falling due within one year

As restated
2024
2023
£
£

Trade creditors
215,396
205,607

Amounts owed to group undertakings
448,361
446,247

Corporation tax
-
42,005

Other taxation and social security
185,104
178,249

Other creditors
1,035,417
1,053,057

1,884,278
1,925,165



8.


Deferred taxation




2024


£






At beginning of year
10,875


Charged to profit or loss
(11,152)



At end of year
(277)

Page 7

 
GMG COLOR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
8.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
12,086
10,875

Tax losses carried forward
(12,363)
-

(277)
10,875


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Prior year adjustment

During the period income and related costs were identified which should have been deferred, which also impacted the comparative figures in these financial statements is follows: 
ole44aa.png
Additionally, it was noted that customer payments in advance totalling £130,766 were incorrectly classified to trade creditors in 2023. These have been reclassified to other creditors. 


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £29,888 (2023 - £20,253). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
GMG COLOR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
54,177
32,012

Later than 1 year and not later than 5 years
55,390
34,935

109,567
66,947


13.


Related party transactions

During the year, the company made purchases from fellow group undertakings totalling £2,225,311 (2023: £2,634,676). At the year end £448,361 was owed to group undertakings (2023: £446,247).


14.


Controlling party

The parent company and controlling party is GMG Weihing GmbH, registered office Moempelgrader Weg 10, 72072 Tuebingen, Germany.


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 19 August 2025 by Stephan Schmitt ACA (Senior Statutory Auditor) on behalf of Price Bailey LLP.


Page 9