Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-09-01falseNo description of principal activity1717truetruefalse 01224981 2023-09-01 2024-08-31 01224981 2022-09-01 2023-08-31 01224981 2024-08-31 01224981 2023-08-31 01224981 c:Director2 2023-09-01 2024-08-31 01224981 d:Buildings 2023-09-01 2024-08-31 01224981 d:Buildings 2024-08-31 01224981 d:Buildings 2023-08-31 01224981 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01224981 d:Buildings d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 01224981 d:PlantMachinery 2023-09-01 2024-08-31 01224981 d:PlantMachinery 2024-08-31 01224981 d:PlantMachinery 2023-08-31 01224981 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01224981 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 01224981 d:MotorVehicles 2023-09-01 2024-08-31 01224981 d:MotorVehicles 2024-08-31 01224981 d:MotorVehicles 2023-08-31 01224981 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01224981 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 01224981 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01224981 d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 01224981 d:CurrentFinancialInstruments 2024-08-31 01224981 d:CurrentFinancialInstruments 2023-08-31 01224981 d:Non-currentFinancialInstruments 2024-08-31 01224981 d:Non-currentFinancialInstruments 2023-08-31 01224981 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 01224981 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 01224981 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 01224981 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 01224981 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 01224981 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 01224981 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 01224981 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 01224981 d:ShareCapital 2024-08-31 01224981 d:ShareCapital 2023-08-31 01224981 d:OtherMiscellaneousReserve 2024-08-31 01224981 d:OtherMiscellaneousReserve 2023-08-31 01224981 d:RetainedEarningsAccumulatedLosses 2024-08-31 01224981 d:RetainedEarningsAccumulatedLosses 2023-08-31 01224981 c:OrdinaryShareClass1 2023-09-01 2024-08-31 01224981 c:OrdinaryShareClass1 2024-08-31 01224981 c:OrdinaryShareClass1 2023-08-31 01224981 c:FRS102 2023-09-01 2024-08-31 01224981 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 01224981 c:FullAccounts 2023-09-01 2024-08-31 01224981 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 01224981 2 2023-09-01 2024-08-31 01224981 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01224981










PRECOLOR SALES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
PRECOLOR SALES LIMITED
REGISTERED NUMBER: 01224981

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
117,580
96,664

  
117,580
96,664

Current assets
  

Stocks
  
106,204
87,718

Debtors: amounts falling due within one year
 5 
406,593
316,915

Cash at bank and in hand
 6 
5,890
43,328

  
518,687
447,961

Creditors: amounts falling due within one year
 7 
(470,034)
(385,079)

Net current assets
  
 
 
48,653
 
 
62,882

Total assets less current liabilities
  
166,233
159,546

Creditors: amounts falling due after more than one year
 8 
(34,897)
(33,371)

Provisions for liabilities
  

Deferred tax
  
(2,400)
-

  
 
 
(2,400)
 
 
-

Net assets
  
128,936
126,175


Capital and reserves
  

Called up share capital 
 10 
4,950
4,950

Other reserves
  
72,797
72,797

Profit and loss account
  
51,189
48,428

  
128,936
126,175


Page 1

 
PRECOLOR SALES LIMITED
REGISTERED NUMBER: 01224981
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 by: 




S Barker
Director

Date: 25 August 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PRECOLOR SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Precolor Sales Limited, is a private limited company limited by shares, incorporated in England andWales, with its registered office and princiapl place of business at Newport Road, Market Drayton,Shropshire, TF9 2AA.

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

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
PRECOLOR SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.3

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the 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 the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
PRECOLOR SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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 income 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.


 
2.9

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.

Page 5

 
PRECOLOR SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
Reducing balance
Plant and machinery
-
20%
Reducing balance
Motor vehicles
-
20%
Reducing balance

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.

 
2.10

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. Work in progress and finished goods include labour and attributable overheads.

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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
PRECOLOR SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 17).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 September 2023
135,111
134,003
25,740
294,854


Additions
-
10,067
27,662
37,729


Disposals
-
-
(1,667)
(1,667)



At 31 August 2024

135,111
144,070
51,735
330,916



Depreciation


At 1 September 2023
51,862
130,380
15,948
198,190


Charge for the year on owned assets
1,336
2,215
-
3,551


Charge for the year on financed assets
-
1,500
10,095
11,595



At 31 August 2024

53,198
134,095
26,043
213,336



Net book value



At 31 August 2024
81,913
9,975
25,692
117,580



At 31 August 2023
83,249
3,623
9,792
96,664

Page 7

 
PRECOLOR SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£


Trade debtors
245,285
166,830

Other debtors
154,344
142,753

Prepayments and accrued income
6,964
7,332

406,593
316,915



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
5,890
43,328

5,890
43,328



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
261,629
171,743

Taxation and social security
120,278
128,323

Obligations under finance lease and hire purchase contracts
12,801
8,122

Other creditors
57,451
63,441

Accruals and deferred income
7,875
3,450

470,034
385,079



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,500
17,502

Net obligations under finance leases and hire purchase contracts
27,397
15,869

34,897
33,371


Page 8

 
PRECOLOR SALES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
7,500
10,000


7,500
10,000

Amounts falling due 2-5 years

Bank loans
-
7,502


-
7,502


17,500
27,502



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



4,950 (2023 - 4,950) Ordinary shares of £1.00 each
4,950
4,950



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are heldseparately from those of the Company in an independently administered fund. The pension cost chargerepresents contributions payable by the Company to the fund and amounted to £15,088 (2023: £14,943). Contributions totalling £3,215 (2023: £6,671) were payable to the fund at the balance sheet date and areincluded in creditors.

 
Page 9