Registered number
11991829
Rainbow SG (London) Ltd
Unaudited Filleted Accounts
31 March 2023
Rainbow SG (London) Ltd
Registered number: 11991829
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,325 12,268
Current assets
Debtors 4 35,519 35,519
Cash at bank and in hand 391 392
35,910 35,911
Creditors: amounts falling due within one year 5 (79,900) (61,599)
Net current liabilities (43,990) (25,688)
Net liabilities (32,665) (13,420)
Capital and reserves
Called up share capital 100 100
Profit and loss account (32,765) (13,520)
Shareholder's funds (32,665) (13,420)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms S C Chew
Director
Approved by the board on 7 December 2023
Rainbow SG (London) Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 399 of the Companies Act 2006 due to the company is subject to the small companies regime.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2022 14,156
At 31 March 2023 14,156
Depreciation
At 1 April 2022 1,888
Charge for the year 943
At 31 March 2023 2,831
Net book value
At 31 March 2023 11,325
At 31 March 2022 12,268
4 Debtors 2023 2022
£ £
Other debtors 35,519 35,519
5 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 78,000 60,000
Other creditors 1,900 1,599
79,900 61,599
6 Controlling party
The parent company is Abacus Lease Investment Limited, a company registered in England and Wales. Abacus Lease Investment Limited holds 100% of the shares in the company.
7 Other information
Rainbow SG (London) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
15 Frith Street
1st Floor
London
W1D 4RE
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