Rainbows Out Of School Club Limited 09731969 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of providing minibus services Digita Accounts Production Advanced 6.30.9574.0 true 09731969 2022-04-01 2023-03-31 09731969 2023-03-31 09731969 core:RetainedEarningsAccumulatedLosses 2023-03-31 09731969 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09731969 core:FurnitureFittingsToolsEquipment 2023-03-31 09731969 bus:SmallEntities 2022-04-01 2023-03-31 09731969 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09731969 bus:AbridgedAccounts 2022-04-01 2023-03-31 09731969 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09731969 bus:RegisteredOffice 2022-04-01 2023-03-31 09731969 bus:Director1 2022-04-01 2023-03-31 09731969 bus:Director2 2022-04-01 2023-03-31 09731969 bus:CompanyLimitedByGuarantee 2022-04-01 2023-03-31 09731969 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 09731969 core:KeyManagementPersonnel 2022-04-01 2023-03-31 09731969 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-04-01 2023-03-31 09731969 countries:EnglandWales 2022-04-01 2023-03-31 09731969 2022-03-31 09731969 core:FurnitureFittingsToolsEquipment 2022-03-31 09731969 2021-04-01 2022-03-31 09731969 2022-03-31 09731969 core:RetainedEarningsAccumulatedLosses 2022-03-31 09731969 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 09731969 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 09731969

Rainbows Out Of School Club Limited

(A company limited by guarantee)

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

Rainbows Out Of School Club Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Rainbows Out Of School Club Limited

Company Information

Directors

Ms KJ Taylor

Mrs M Gwyer

Registered office

The Villa
Somerton Lane
Newport
NP19 0HY

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Rainbows Out Of School Club Limited

(Registration number: 09731969)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

65

85

Current assets

 

Debtors

2,553

3,145

Cash at bank and in hand

 

897

217

 

3,450

3,362

Prepayments and accrued income

 

184

171

Creditors: Amounts falling due within one year

(508)

(509)

Net current assets

 

3,126

3,024

Total assets less current liabilities

 

3,191

3,109

Accruals and deferred income

 

(1,026)

(954)

Net assets

 

2,165

2,155

Capital and reserves

 

Profit and loss account

2,165

2,155

Total equity

 

2,165

2,155

 

Rainbows Out Of School Club Limited

(Registration number: 09731969)
Abridged Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 November 2023 and signed on its behalf by:
 

.........................................

Ms KJ Taylor
Director

 

Rainbows Out Of School Club Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
The Villa
Somerton Lane
Newport
NP19 0HY

These financial statements were authorised for issue by the Board on 27 November 2023.

2

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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 value added tax, returns, rebates and discounts.

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 tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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.

 

Rainbows Out Of School Club Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet 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:

Asset class

Depreciation method and rate

Equipment

25% reducing balance

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

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 subsequently measured at amortised cost using the effective interest method.

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.

 

Rainbows Out Of School Club Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Equipment
 £

Total
£

Cost or valuation

At 1 April 2022

565

565

At 31 March 2023

565

565

Depreciation

At 1 April 2022

479

479

Charge for the year

21

21

At 31 March 2023

500

500

Carrying amount

At 31 March 2023

65

65

At 31 March 2022

85

85

5

Related party transactions

Key management personnel

Relationship :Director

Summary of transactions with key management

During the year the director made interest free, repayble on demand loans to the compnay. At the balance sheet date the amount due to the director was £500 (2022 - £500)