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Registration number: 12372875

Rainbow Holdings (Crewe) Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Rainbow Holdings (Crewe) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Rainbow Holdings (Crewe) Limited

(Registration number: 12372875)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

150,000

125,000

Investments

5

100

100

 

150,100

125,100

Current assets

 

Debtors

6

196,469

64,448

Cash at bank and in hand

 

182,391

177,291

 

378,860

241,739

Creditors: Amounts falling due within one year

7

(23,410)

(9,143)

Net current assets

 

355,450

232,596

Total assets less current liabilities

 

505,550

357,696

Provisions for liabilities

(4,750)

-

Net assets

 

500,800

357,696

Capital and reserves

 

Called up share capital

10,000

200

Retained earnings

490,800

357,496

Shareholders' funds

 

500,800

357,696

For the financial year ending 31 December 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.

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 29 July 2024 and signed on its behalf by:
 

 

Rainbow Holdings (Crewe) Limited

(Registration number: 12372875)
Balance Sheet as at 31 December 2023

.........................................
Mr G Beamon
Director

 

Rainbow Holdings (Crewe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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 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 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 of rents received and dividends from its subsidiary company.

Tax

The tax expense for the period comprises current and deferred 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 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Rainbow Holdings (Crewe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured are valued at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 January

125,000

Fair value adjustments

25,000

At 31 December

150,000

The fair value of the investment property was considered by the director at 31 December 2023 and was deemed to be £150,000.

5

Investments

2023
£

2022
£

Investments in subsidiaries

100

100

 

Rainbow Holdings (Crewe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Subsidiaries

£

Cost or valuation

At 1 January 2023

100

Provision

Carrying amount

At 31 December 2023

100

At 31 December 2022

100

 

Rainbow Holdings (Crewe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Rainbow Blinds (Crewe) Limited

7/9 Macon Court, Crewe, CW1 6EA

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

Rainbow Blinds (Crewe) Limited

The principal activity of Rainbow Blinds (Crewe) Limited is installation of blinds.

6

Debtors

Current

2023
£

2022
£

Other debtors

196,469

64,448

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

23,410

9,143

8

Related party transactions

At 31 December 2023 the Company's subsidiary Rainbow Blinds (Crewe) Limited owed £196,470 to the company. This loan is interest free and repayable on demand. Advances during the year amounted to £132,022.