Registration number:
for the
Period from 13 November 2024 to 31 December 2025
Ashford Colour Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Ashford Colour Limited
Company Information
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Directors |
M W Handford B D Smith B M Tucker |
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Registered office |
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Bankers |
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Auditors |
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Ashford Colour Limited
Strategic Report for the Period from 13 November 2024 to 31 December 2025
The directors present their strategic report for the period from 13 November 2024 to 31 December 2025, being the Company's first reporting period following its incorporation and integration into the wider East Sussex Press Group.
Principal activity
The principal activity of the company is the provision of customised book printing services within the e-commerce sector together with the supply of technology-enabled print and fulfilment solutions to the publishing industry.
Strategic Overview
2025 represented a significant and transformational year for Ashford Colour Limited. Following its incorporation into the wider Pureprint Group, the business successfully completed a period of integration whilst maintaining high levels of customer service, retaining key talent and continuing to support customers across the UK educational publishing and specialist print sectors.
The Company's established reputation for quality, flexibility and innovation, combined with the operational strength and resources of the wider Group, has created a strong platform for future growth. Throughout the period, management remained focused on customer retention, operational excellence and investment in production capability, ensuring that the business was well positioned to meet the evolving needs of customers.
Integration into the wider Group has strengthened operational support, increased manufacturing capability, enhanced supply chain resilience and improved governance and reporting processes. Customers now benefit from the combination of Ashford's specialist publishing expertise and the additional scale, investment capacity and infrastructure available through a larger multi-site manufacturing organisation.
Financial Performance
For the period ended 31 December 2025, the Company generated turnover of £10.94 million(2024: £nil, being the first reporting period).
Operating loss before exceptional items amounted to £255,338 (2024: £nil), while EBITDA was a loss of £226,432 (2024: £nil).
The reported result reflects a year of transition and integration, together with strategic investment in people, systems, production assets and operational enhancements designed to support future growth and efficiency. The Directors consider the financial performance achieved during this first reporting period to be encouraging and reflective of the underlying strength of the business.
At 31 December 2025, the Company reported net assets of £1,002,157 (2024: £nil). A recent independent asset revaluation report valued the equity in the assets above book value at between £5m and £8m depending on the valuation method. The Directors believe the balance sheet, while lower than the true value to comply with the group’s accounting policies, remains robust and provides a solid foundation from which the Company can continue to invest in its operations, customer proposition and long-term growth strategy.
Business development and Future Outlook
Ashford Colour Limited became part of the Pureprint Group after many years of successful collaboration. The integration process was completed smoothly, with customer relationships maintained and strengthened throughout the period. Importantly, all employees transferred to the business were retained, preserving valuable knowledge, expertise and customer continuity.
During 2025, the business demonstrated resilience and growth as operations stabilised following integration. Increased collaboration across the Group generated opportunities to improve customer service, enhance production flexibility and maximise operational efficiencies through shared resources and expertise.
The Company continued to invest in its manufacturing platform during the year. Investment included the retention and enhancement of its HP Inkjet production capability together with the addition of two HP Indigo 7900 digital presses, providing increased capacity, flexibility and responsiveness to customer demand. The high-speed inkjet presses continue to provide extensive capacity, whilst quality enhancements have also been made, with improvements in both HDNA and HDK printing. Reel-to-reel printing serves the automated bindery perfectly, limiting the touch points throughout the production process.
The Company also retained the Muller Martini automated binding equipment, adding an additional Horizon binder to expand both capacity and flexibility. Cross functional collaboration within the Group has also unlocked production flow efficiencies, keeping WIP and lead times low throughout the year, and enabling expansion of shift patterns to flex with customer demand.
Ashford Colour Limited
Strategic Report for the Period from 13 November 2024 to 31 December 2025
Operational improvements were also delivered through increased automation, workflow enhancements and reporting capabilities, contributing to improved efficiency during peak trading periods and supporting the Company's commitment to delivering high-quality products and service. Continued investment in digital manufacturing technologies and customer-facing reporting tools positions the business strongly to support increasingly agile publishing supply chains, shorter production runs and replenishment-led manufacturing models.
A key benefit of operating within the wider Group is the increased resilience available through shared manufacturing infrastructure, technical expertise, procurement support and operational resources. The business is able to leverage scalable production capability, cross-site operational support and structured business continuity arrangements, reducing dependency on any single production location and strengthening service continuity for customers
Looking forward, the Directors remain confident in the Company's prospects. Planned investment over the next twelve months will focus on further productivity improvements, automation initiatives, workflow optimisation and technology upgrades designed to enhance quality, efficiency and customer responsiveness.
The Directors believe the business is well positioned to benefit from increasing demand for flexible, technology-enabled and sustainable print manufacturing solutions. Supported by the scale, resources and investment capability of the wider Group, the Company remains focused on delivering operational excellence, continuous improvement and long-term sustainable growth.
Sustainability and Accreditation
Sustainability remains a key strategic priority for the Company and the wider Group.
During the period, the Company achieved Carbon Neutral status as part of the Group's commitment to responsible and sustainable business practices. The business also successfully completed the transfer and maintenance of key industry accreditations, including ISO 27001 certification and an EcoVadis Silver Rating, demonstrating its ongoing commitment to quality, information security, sustainability and responsible business conduct.
As part of the wider Group, the Company also benefits from a comprehensive sustainability framework incorporating recognised environmental, quality and information security standards, including ISO 14001 Environmental Management, ISO 9001 Quality Management, FSC® Chain of Custody certification and ISO 12647 colour quality standards. The Group has further committed to independently validated Science Based Targets aligned with achieving Net Zero emissions by 2045, supporting the long-term reduction of environmental impact across its operations.
Principal Risks and Uncertainties
The Company's business model is subject to a number of risks and uncertainties, including competition within the print and publishing sectors, changing market conditions and fluctuations in customer demand.
The Directors seek to mitigate these risks through continued investment in customer service, technology, operational efficiency and employee development. The Company also benefits from the operational resilience provided by the wider Group structure, including scalable manufacturing capability, contingency production arrangements, cross-trained teams, proactive capacity planning and established business continuity procedures. These measures strengthen the Company's ability to maintain high service levels and operational continuity during periods of peak demand or unforeseen disruption.
Ashford Colour Limited
Strategic Report for the Period from 13 November 2024 to 31 December 2025
Financial instruments and Risk Management
The Company does not actively utilise complex financial instruments as part of its treasury management activities.
The principal financial risks faced by the Company are credit risk, liquidity risk and cash flow risk arising from normal trading activities. These risks are managed through established credit control procedures, the use of trade credit insurance where appropriate and ongoing monitoring of working capital requirements.
Going Concern
The Directors have carefully reviewed the financial position of the Company together with forecasts and cash flow projections covering a period of at least twelve months from the date of approval of these financial statements.
Following this review, the Directors are satisfied that the Company has adequate financial resources and support available to continue its operations and meet its obligations as they fall due. Accordingly, the financial statements have been prepared on the going concern basis.
Approved by the
Director
Ashford Colour Limited
Directors' Report for the Period from 13 November 2024 to 31 December 2025
The directors present their report and the financial statements for the period from 13 November 2024 to 31 December 2025.
Incorporation
The company was incorporated on
Directors of the company
The directors who held office during the period were as follows:
Future developments
The external commercial environment is expected to remain competitive going forwards, however, the directors remain confident that the company will continue to improve its current level of performance in the future and will continue to trade as a going concern.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Appointment of auditors
Hazlewoods LLP were appointed as auditors during the period and have expressed their willingness to continue in office.
Approved by the
Director
Ashford Colour Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities 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:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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enter new text here |
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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Ashford Colour Limited
Independent Auditor's Report to the Members of Ashford Colour Limited
Opinion
We have audited the financial statements of Ashford Colour Limited (the 'company') for the period from 13 November 2024 to 31 December 2025, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the period then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Ashford Colour Limited
Independent Auditor's Report to the Members of Ashford Colour Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 6, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We considered the nature of the company’s industry and its control environment and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.
We obtained an understanding of the legal and regulatory framework that the company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
Ashford Colour Limited
Independent Auditor's Report to the Members of Ashford Colour Limited
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
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reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
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reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
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enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and |
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reading minutes of meetings of those charged with governance. |
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of this report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Windsor House
Bayshill Road
GL50 3AT
Ashford Colour Limited
Profit and Loss Account for the Period from 13 November 2024 to 31 December 2025
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Note |
For the period 13 November 2024 to 31 December |
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Turnover |
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Cost of sales |
( |
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Gross profit |
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Distribution costs |
( |
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Administrative expenses |
( |
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Operating loss |
(272,269) |
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Interest payable and similar expenses |
( |
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Loss before tax |
( |
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Tax on loss |
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Loss for the financial period |
( |
The above results were derived from continuing operations.
The company has no other comprehensive income for the period other than the results above.
Ashford Colour Limited
(Registration number: 16078295)
Balance Sheet as at 31 December 2025
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Note |
2025 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Provisions for liabilities |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
100 |
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Profit and loss account |
(337,089) |
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Shareholders' deficit |
(336,989) |
Approved and authorised by the
Director
Ashford Colour Limited
Statement of Changes in Equity for the Period from 13 November 2024 to 31 December 2025
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Share capital |
Profit and loss account |
Total |
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Loss for the period |
- |
( |
( |
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New share capital subscribed |
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- |
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At 31 December 2025 |
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( |
( |
Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Summary of disclosure exemptions
The company has not presented a cash flow statement on the grounds that the company is a wholly owned subsidiary and a group cash flow statement is included in the financial statements of the parent company.
Name of parent of group
These financial statements are consolidated in the financial statements of East Sussex Press Limited.
The financial statements of East Sussex Press Limited may be obtained from Companies House.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
Significant judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.
These financial statements only contain significant estimates in relation to depreciation.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
10% - 33% straight line |
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Fixtures, fittings and equipment |
10% - 50% straight line |
Intangible assets
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.
Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.
Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
Straight line over 5-10 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
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 measure at 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
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Revenue |
The analysis of the company's Turnover for the period by market is as follows:
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For the period 13 November 2024 to 31 December |
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UK |
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United Stated of America |
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Operating profit |
Arrived at after charging/(crediting)
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For the period 13 November 2024 to 31 December |
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Depreciation expense |
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Amortisation expense |
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Operating lease expense - property |
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Interest payable and similar expenses |
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For the period 13 November 2024 to 31 December |
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Interest on obligations under finance leases and hire purchase contracts |
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Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
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For the period 13 November 2024 to 31 December |
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Wages and salaries |
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Social security costs |
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Pension costs, defined contribution scheme |
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The average number of persons employed by the company (including directors) during the period, analysed by category was as follows:
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For the period 13 November 2024 to 31 December |
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Production |
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Administration and support |
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Directors' remuneration |
Directors remuneration has been borne by a related party.
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Auditors' remuneration |
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For the period 13 November 2024 to 31 December |
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Audit of the financial statements |
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Other fees to auditors |
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All other non-audit services |
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Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
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Taxation |
Tax credited in the profit and loss account
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For the period 13 November 2024 to 31 December |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
( |
The tax on profit before tax for the period is lower than the standard rate of corporation tax in the UK of
The differences are reconciled below:
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For the period 13 November 2024 to 31 December |
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Loss before tax |
( |
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Corporation tax at standard rate |
( |
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Tax increase from effect of capital allowances and depreciation |
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Effect of expense not deductible in determining taxable profit (tax loss) |
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Total tax credit |
( |
Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
Deferred tax
Deferred tax assets and liabilities
|
2025 |
Asset |
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Fixed asset timing differences |
( |
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Tax losses carried forward |
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Short term timing differences |
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Intangible assets |
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Goodwill |
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Cost or valuation |
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Additions acquired separately and at 31 December 2025 |
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Amortisation |
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Amortisation charge and at 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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Tangible assets |
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Furniture, fittings and equipment |
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Cost or valuation |
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Additions and at 31 December 2025 |
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Depreciation |
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Charge for the period and at 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2025 |
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Plant and machinery |
2,040,229 |
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Stocks |
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2025 |
|
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Raw materials and consumables |
|
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Work in progress |
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Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
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Debtors |
|
2025 |
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Trade debtors |
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Other debtors |
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Prepayments |
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Creditors |
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Note |
2025 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings |
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Social security and other taxes |
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Outstanding defined contribution pension costs |
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Other payables |
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Accruals |
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||
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Current loans and borrowings
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2025 |
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Bank borrowings |
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Hire purchase contracts |
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Finance lease liabilities |
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Non-current loans and borrowings
|
2025 |
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Hire purchase contracts |
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Finance lease liabilities |
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Included within bank borrowings is £839,503 in respect of invoice discounting. This amount is secured by a fixed and floating charge over the assets of the company in favour of Barclays Bank PLC.
The hire purchase and finance lease agreements are secured on the assets to which they relate.
Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
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Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
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Share capital |
Allotted, called up and fully paid shares
|
2025 |
||
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No. |
£ |
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|
|
|
100 |
New shares allotted
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During the period 100 |
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Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
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2025 |
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Not later than one year |
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Later than one year and not later than five years |
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Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
Operating leases
The total of future minimum lease payments is as follows:
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2025 |
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Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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Ashford Colour Limited
Notes to the Financial Statements for the Period from 13 November 2024 to 31 December 2025
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Financial guarantee contracts |
The total amount of guarantees not included in the balance sheet is £4,298,509. The company is bound by an intra-group cross guarantee in respect of bank debt with other members of the group headed by its immediate parent company East Sussex Press Limited.
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Related party transactions |
Summary of transactions with key management
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is
The ultimate controlling party is
The parent of the largest group in which these financial statements are consolidated is