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REGISTERED NUMBER: 09119613 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Promised Rain Limited

Promised Rain Limited (Registered number: 09119613)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Promised Rain Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: S P Landell Mills
Miss S Raman





REGISTERED OFFICE: Cobstone
17 Winsley Road
Bradford On Avon
Wiltshire
BA15 1QS





REGISTERED NUMBER: 09119613 (England and Wales)





ACCOUNTANTS: Underwood Lamb Professional Services Ltd
Ground Floor, The Old Barn
Lady Farm
Chelwood
Bristol
BS39 4NN

Promised Rain Limited (Registered number: 09119613)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 976 1,301

CURRENT ASSETS
Cash at bank - 499

CREDITORS
Amounts falling due within one year 5 223,937 201,230
NET CURRENT LIABILITIES (223,937 ) (200,731 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(222,961

)

(199,430

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 6 (222,963 ) (199,432 )
(222,961 ) (199,430 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by:





S P Landell Mills - Director


Promised Rain Limited (Registered number: 09119613)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Promised Rain Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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 balance sheet date.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Promised Rain Limited (Registered number: 09119613)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022
and 31 July 2023 7,803 338 1,728 9,869
DEPRECIATION
At 1 August 2022 6,780 289 1,499 8,568
Charge for year 256 12 57 325
At 31 July 2023 7,036 301 1,556 8,893
NET BOOK VALUE
At 31 July 2023 767 37 172 976
At 31 July 2022 1,023 49 229 1,301

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 1 -
Trade creditors 7,595 6,096
Other creditors 216,341 195,134
223,937 201,230

6. RESERVES
Retained
earnings
£   

At 1 August 2022 (199,432 )
Deficit for the year (23,531 )
At 31 July 2023 (222,963 )

7. GOING CONCERN

The company's balance sheet was in deficit at 31 July 2023 and in previous years. The company's activities had been curtailed by the pandemic but the company is supported by significant loans from the directors and their ongoing support in respect of costs incurred whilst the company's income remained low. With the directors' continued support, the directors consider that the company is able to continue trading as a going concern as the loans will not be required to be repaid until the company is in a position to do so.