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Colour Tone Masterbatch Limited |
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Financial Statements for the Year Ended 31st December 2017 |
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REGISTERED NUMBER:
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Colour Tone Masterbatch Limited |
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Financial Statements for the Year Ended 31st December 2017 |
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Colour Tone Masterbatch Limited (Registered number: 03176153) |
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Contents of the Financial Statements |
for the year ended 31st December 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Colour Tone Masterbatch Limited |
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Company Information |
for the year ended 31st December 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Colour Tone Masterbatch Limited (Registered number: 03176153) |
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Balance Sheet |
31st December 2017 |
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2017 | 2016 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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1,459,725 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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Colour Tone Masterbatch Limited (Registered number: 03176153) |
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Notes to the Financial Statements |
for the year ended 31st December 2017 |
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1. | STATUTORY INFORMATION |
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Colour Tone Masterbatch Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
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Patents and licences are being amortised over the life of the asset. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated |
useful life or, if held under a finance lease, over the lease term, whichever is shorter. |
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Improvements to property |
- No depreciation has been charged on improvements to
property as the yearly programme of maintenance is such that any depreciation charge would be immaterial |
Plant and machinery | - 20% on reducing balance |
Motor vehicles | - 25% on reducing balance |
Computer equipment | - 15% on reducing balance |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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Colour Tone Masterbatch Limited (Registered number: 03176153) |
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Notes to the Financial Statements - continued |
for the year ended 31st December 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
held under finance leases are depreciated over their estimated useful lives or the lease term, |
whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
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At 31st December 2017 |
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AMORTISATION |
Charge for year |
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At 31st December 2017 |
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NET BOOK VALUE |
At 31st December 2017 |
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Colour Tone Masterbatch Limited (Registered number: 03176153) |
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Notes to the Financial Statements - continued |
for the year ended 31st December 2017 |
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5. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant and | Motor | Computer |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st January 2017 |
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Additions |
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Disposals |
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At 31st December 2017 |
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DEPRECIATION |
At 1st January 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31st December 2017 |
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NET BOOK VALUE |
At 31st December 2017 |
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At 31st December 2016 |
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The net book value of tangible fixed assets includes £92,011 (2016 £210,949) in respect of assets held |
under hire purchase contracts. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
as |
restated |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
as |
restated |
£ | £ |
Bank loans and overdrafts |
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Invoice discounting |
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Hire purchase contracts (see note 9) |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Colour Tone Masterbatch Limited (Registered number: 03176153) |
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Notes to the Financial Statements - continued |
for the year ended 31st December 2017 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
as |
restated |
£ | £ |
Hire purchase contracts (see note 9) |
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Amounts owed to group undertakings |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under hire purchase fall due as follows: |
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Hire purchase |
contracts |
2017 | 2016 |
as |
restated |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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The total minimum lease payments that fall due in respect of non-cancellable operating leases are |
£339,631 (2016 £Nil). |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | ULTIMATE CONTROLLING PARTY |
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The parent company for which group financial statements are drawn up and of which the company is a |
member is Luxus Limited, registered in England and Wales. Luxus Limited is also the company's |
ultimate parent undertaking and its registered office is Belvoir Way, Fairfield Industrial Estate, Louth, |
Lincolnshire, LN11 0LQ. Copies of Luxus Limited's financial statements can be obtained from |
Companies House. |