RAINBOW WISHES CIC

Company limited by guarantee

Company Registration Number:
12780704 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2023

Period of accounts

Start date: 1 August 2022

End date: 31 July 2023

RAINBOW WISHES CIC

Contents of the Financial Statements

for the Period Ended 31 July 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

RAINBOW WISHES CIC

Directors' report period ended 31 July 2023

The directors present their report with the financial statements of the company for the period ended 31 July 2023

Principal activities of the company

The principal activity of the company in the year under review was that of care and support in the community.



Directors

The director shown below has held office during the whole of the period from
1 August 2022 to 31 July 2023

T C Owen


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
3 April 2024

And signed on behalf of the board by:
Name: T C Owen
Status: Director

RAINBOW WISHES CIC

Profit And Loss Account

for the Period Ended 31 July 2023

2023 2022


£

£
Turnover: 54,721 33,035
Cost of sales: ( 26,260 ) ( 9,198 )
Gross profit(or loss): 28,461 23,837
Distribution costs: ( 164 ) ( 3,046 )
Administrative expenses: ( 22,082 ) ( 22,341 )
Other operating income: 0 0
Operating profit(or loss): 6,215 (1,550)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 ( 150 )
Profit(or loss) before tax: 6,215 (1,700)
Tax: ( 909 ) 22
Profit(or loss) for the financial year: 5,306 (1,678)

RAINBOW WISHES CIC

Balance sheet

As at 31 July 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1,066 240
Investments:   0 0
Total fixed assets: 1,066 240
Current assets
Stocks: 4 1,750 1,985
Debtors: 5 1,333 1,333
Cash at bank and in hand: 4,314 111
Investments:   0 0
Total current assets: 7,397 3,429
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 6 ( 1,852 ) ( 2,521 )
Net current assets (liabilities): 5,545 908
Total assets less current liabilities: 6,611 1,148
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: ( 203 ) ( 46 )
Accruals and deferred income: 0 0
Total net assets (liabilities): 6,408 1,102
Members' funds
Profit and loss account: 6,408 1,102
Total members' funds: 6,408 1,102

The notes form part of these financial statements

RAINBOW WISHES CIC

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 3 April 2024
and signed on behalf of the board by:

Name: T C Owen
Status: Director

The notes form part of these financial statements

RAINBOW WISHES CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration receivable, consisting of sales and donations made to the CIC excluded value added tax and other sales taxes.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Plant and machinery-33% on reducing balanceFixtures and fittings-33% on reducing balanceComputer equipment-33% on cost

RAINBOW WISHES CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

RAINBOW WISHES CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2022 0 0 0 534 0 534
Additions 0 520 384 448 0 1,352
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 July 2023 0 520 384 982 0 1,886
Depreciation
At 1 August 2022 0 0 0 294 0 294
Charge for year 0 172 127 227 0 526
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 31 July 2023 0 172 127 521 0 820
Net book value
At 31 July 2023 0 348 257 461 0 1,066
At 31 July 2022 0 0 0 240 0 240

RAINBOW WISHES CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Stocks

2023 2022
£ £
Stocks 1,750 1,985
Payments on account 0 0
Total 1,750 1,985

RAINBOW WISHES CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Debtors

2023 2022
£ £
Trade debtors 0 0
Prepayments and accrued income 1,333 1,333
Other debtors 0 0
Total 1,333 1,333
Debtors due after more than one year: 0 0

RAINBOW WISHES CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 1,336 584
Accruals and deferred income 479 479
Other creditors 37 1,458
Total 1,852 2,521

RAINBOW WISHES CIC

Notes to the Financial Statements

for the Period Ended 31 July 2023

7. Loans to directors

At the balance sheet date the CIC owed the directors £37 (2022-£1,458).This loan has no terms attached and is payable on demand.

COMMUNITY INTEREST ANNUAL REPORT

RAINBOW WISHES CIC

Company Number: 12780704 (England and Wales)

Year Ending: 31 July 2023

Company activities and impact

The raising of funds through sales and donations help and support local and international communities and initiatives. We have an online presence as well as physical store. Both aim to bring hope and smiles during times of need, where they’re needed the most.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
23 April 2024

And signed on behalf of the board by:
Name: Tracie Owen
Status: Director