IRIS Accounts Production v24.2.0.383 02699517 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh026995172023-03-31026995172024-03-31026995172023-04-012024-03-31026995172022-03-31026995172022-04-012023-03-31026995172023-03-3102699517ns15:EnglandWales2023-04-012024-03-3102699517ns14:PoundSterling2023-04-012024-03-3102699517ns10:Director12023-04-012024-03-3102699517ns10:Director22023-04-012024-03-3102699517ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3102699517ns10:SmallEntities2023-04-012024-03-3102699517ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3102699517ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3102699517ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102699517ns10:FullAccounts2023-04-012024-03-3102699517ns10:CompanySecretary12023-04-012024-03-3102699517ns10:RegisteredOffice2023-04-012024-03-3102699517ns5:CurrentFinancialInstruments2024-03-3102699517ns5:CurrentFinancialInstruments2023-03-3102699517ns5:ShareCapital2024-03-3102699517ns5:ShareCapital2023-03-3102699517ns5:RetainedEarningsAccumulatedLosses2024-03-3102699517ns5:RetainedEarningsAccumulatedLosses2023-03-3102699517ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3102699517ns5:MotorVehicles2023-04-012024-03-3102699517ns5:ComputerEquipment2023-04-012024-03-3102699517ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3102699517ns5:MotorVehicles2023-03-3102699517ns5:ComputerEquipment2023-03-3102699517ns5:LongLeaseholdAssetsns5:LandBuildings2024-03-3102699517ns5:MotorVehicles2024-03-3102699517ns5:ComputerEquipment2024-03-3102699517ns5:LongLeaseholdAssetsns5:LandBuildings2023-03-3102699517ns5:MotorVehicles2023-03-3102699517ns5:ComputerEquipment2023-03-3102699517ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3102699517ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 02699517 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

RAINBOW DOUBLE GLAZING LTD

RAINBOW DOUBLE GLAZING LTD (REGISTERED NUMBER: 02699517)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAINBOW DOUBLE GLAZING LTD

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N J Matthews
N Wooldridge





SECRETARY: N J Matthews





REGISTERED OFFICE: The Woodyard
Bye's Lane
Silchester
RG7 2QB





REGISTERED NUMBER: 02699517 (England and Wales)





ACCOUNTANTS: B20 Limited
Chartered Certified Accountants
Charwell House
Wilsom Road
Alton
Hampshire
GU34 2PP

RAINBOW DOUBLE GLAZING LTD (REGISTERED NUMBER: 02699517)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,301 18,938

CURRENT ASSETS
Stocks 152,405 127,911
Debtors 5 49,942 106,776
Cash at bank 5,787 59,692
208,134 294,379
CREDITORS
Amounts falling due within one year 6 (224,759 ) (306,838 )
NET CURRENT LIABILITIES (16,625 ) (12,459 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,676

6,479

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,674 6,477
SHAREHOLDERS' FUNDS 1,676 6,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

RAINBOW DOUBLE GLAZING LTD (REGISTERED NUMBER: 02699517)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:




N Wooldridge - Director



N J Matthews - Director


RAINBOW DOUBLE GLAZING LTD (REGISTERED NUMBER: 02699517)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

RAINBOW DOUBLE GLAZING LTD 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 comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities, stated net of discount and sales taxes.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 15% on cost

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.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

At each reporting date stocks are assessed for impairment.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from banks and to and from related parties

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If evidence of impairment is found an impairment loss is recognised in the profit and loss account.


RAINBOW DOUBLE GLAZING LTD (REGISTERED NUMBER: 02699517)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Long Motor Computer
leasehold vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 47,500 62,649 17,600 127,749
Additions - 5,500 815 6,315
Disposals - (9,295 ) - (9,295 )
At 31 March 2024 47,500 58,854 18,415 124,769
DEPRECIATION
At 1 April 2023 47,500 44,728 16,583 108,811
Charge for year - 4,289 425 4,714
Eliminated on disposal - (7,057 ) - (7,057 )
At 31 March 2024 47,500 41,960 17,008 106,468
NET BOOK VALUE
At 31 March 2024 - 16,894 1,407 18,301
At 31 March 2023 - 17,921 1,017 18,938

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 38,598 92,946
Other debtors 11,344 13,830
49,942 106,776

RAINBOW DOUBLE GLAZING LTD (REGISTERED NUMBER: 02699517)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 9,967 14,567
Trade creditors 134,814 204,244
Taxation and social security 69,671 81,164
Other creditors 10,307 6,863
224,759 306,838