REGISTERED NUMBER: SC019941 (Scotland)

Financial Statements For The Year Ended 31 March 2018

for

21 Colour Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P Cole

T Price

SECRETARY:

P Cole

REGISTERED OFFICE:

21 Summerlee Street

Glasgow

G33 4DB

REGISTERED NUMBER:

SC019941 (Scotland)

ACCOUNTANTS:

Robb Ferguson

Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

1,728,689

1,851,324

CURRENT ASSETS

Stocks

268,123

233,470

Debtors

608,372

819,839

Cash at bank and in hand

231

671

876,726

1,053,980

CREDITORS

Amounts falling due within one year

1,648,157

1,730,165

NET CURRENT LIABILITIES

(771,431

)

(676,185

)

TOTAL ASSETS LESS CURRENT LIABILITIES

957,258

1,175,139

CREDITORS

Amounts falling due after more than one year

(589,720

)

(748,398

)

PROVISIONS FOR LIABILITIES

7

(305,913

)

(331,854

)

NET ASSETS

61,625

94,887

CAPITAL AND RESERVES

Called up share capital

8

15,000

15,000

Share premium

12,594

12,594

Capital redemption reserve

300

300

Other reserves

33,275

33,275

Retained earnings

456

33,718

SHAREHOLDERS' FUNDS

61,625

94,887

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 20 December 2018 and were signed on its behalf by:

P Cole - Director

1.	STATUTORY INFORMATION

21 Colour Limited is a private company, limited by shares , registered in Scotland. The company's registered number and

registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are

physically delivered to the customer. Turnover from the supply of services represents the value of services provided under

contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

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 the shorter.

Fixed plant and equipment

-

at varying rates on cost

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Taxation and deferred tax

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of

financial position date.

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.

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.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2017 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

3,349,205

Additions

4,305

At 31 March 2018

3,353,510

DEPRECIATION

At 1 April 2017

1,497,881

Charge for year

126,940

At 31 March 2018

1,624,821

NET BOOK VALUE

At 31 March 2018

1,728,689

At 31 March 2017

1,851,324

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2017

and 31 March 2018

2,096,150

DEPRECIATION

At 1 April 2017

481,735

Charge for year

95,811

At 31 March 2018

577,546

NET BOOK VALUE

At 31 March 2018

1,518,604

At 31 March 2017

1,614,415

5.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2018

2017

as restated

£

£

Net obligations repayable:

Within one year

194,157

190,185

Between one and five years

486,944

681,100

681,101

871,285

Non-cancellable operating

leases

2018

2017

as restated

£

£

Within one year

94,092

112,279

Between one and five years

86,946

189,497

181,038

301,776

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

as restated

£

£

Bank overdrafts

226,127

239,192

Invoice discounting facility

464,036

579,158

690,163

818,350

The company's bankers hold a floating charge over the assets and undertakings along with assignation over the company's

trade debts.

7.	PROVISIONS FOR LIABILITIES

2018

2017

as restated

£

£

Deferred tax

305,913

331,854

Deferred

tax

£

Balance at 1 April 2017

331,854

Provided during year

(25,941

)

Accelerated capital allowances

Balance at 31 March 2018

305,913

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

as restated

£

£

15,000

Ordinary

£1

15,000

15,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2018 and 31 March 2017:

2018

2017

as restated

£

£

T Price and P Cole

Balance outstanding at start of year

16,224

(875

)

Amounts advanced

-

51,099

Amounts repaid

(126,993

)

(34,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(110,769

)

16,224