10 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-28 Sage Accounts Production Advanced 2023 - FRS102_2023 19,000 19,000 10,461 9,188 254 9,442 1,019 1,273 xbrli:pure xbrli:shares iso4217:GBP 06802973 2022-09-28 2023-09-26 06802973 2023-09-26 06802973 2022-09-27 06802973 2021-10-01 2022-09-27 06802973 2022-09-27 06802973 2021-09-30 06802973 core:NetGoodwill 2022-09-28 2023-09-26 06802973 bus:Director1 2022-09-28 2023-09-26 06802973 core:NetGoodwill 2023-09-26 06802973 core:WithinOneYear 2023-09-26 06802973 core:WithinOneYear 2022-09-27 06802973 core:AfterOneYear 2023-09-26 06802973 core:AfterOneYear 2022-09-27 06802973 core:UKTax 2022-09-28 2023-09-26 06802973 core:UKTax 2021-10-01 2022-09-27 06802973 core:ShareCapital 2023-09-26 06802973 core:ShareCapital 2022-09-27 06802973 core:RetainedEarningsAccumulatedLosses 2023-09-26 06802973 core:RetainedEarningsAccumulatedLosses 2022-09-27 06802973 bus:SmallEntities 2022-09-28 2023-09-26 06802973 bus:AuditExemptWithAccountantsReport 2022-09-28 2023-09-26 06802973 bus:SmallCompaniesRegimeForAccounts 2022-09-28 2023-09-26 06802973 bus:PrivateLimitedCompanyLtd 2022-09-28 2023-09-26 06802973 bus:FullAccounts 2022-09-28 2023-09-26 06802973 core:ComputerEquipment 2023-09-26 06802973 core:ComputerEquipment 2022-09-27 06802973 core:ComputerEquipment 2022-09-28 2023-09-26
COMPANY REGISTRATION NUMBER: 06802973
RAINBOW CHILDCARE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
26 September 2023
RAINBOW CHILDCARE LIMITED
STATEMENT OF FINANCIAL POSITION
26 September 2023
26 Sep 23
27 Sep 22
Note
£
£
£
£
FIXED ASSETS
Tangible assets
7
1,019
1,273
CURRENT ASSETS
Debtors
8
107,787
12,691
Cash at bank and in hand
73,660
100,649
---------
---------
181,447
113,340
CREDITORS: amounts falling due within one year
9
( 47,323)
( 23,681)
---------
---------
NET CURRENT ASSETS
134,124
89,659
---------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
135,143
90,932
CREDITORS: amounts falling due after more than one year
10
( 24,000)
( 33,600)
PROVISIONS
( 193)
( 242)
---------
--------
NET ASSETS
110,950
57,090
---------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
110,850
56,990
---------
--------
SHAREHOLDERS FUNDS
110,950
57,090
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 26 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RAINBOW CHILDCARE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
26 September 2023
These financial statements were approved by the board of directors and authorised for issue on 26 September 2024 , and are signed on behalf of the board by:
L Gentile
Director
Company registration number: 06802973
RAINBOW CHILDCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 28 SEPTEMBER 2022 TO 26 SEPTEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 33 Barley Bank Street, Darwen, Lancashire, BB3 1NW, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods supplied, exclusive of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over its useful economic life
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
Variable, depending on type of asset
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 10 (2022: 8 ).
5. TAX ON PROFIT
Major components of tax expense
Period from
Period from
28 Sep 22 to
1 Oct 21 to
26 Sep 23
27 Sep 22
£
£
Current tax:
UK current tax expense
12,610
7,630
Deferred tax:
Origination and reversal of timing differences
( 49)
( 60)
--------
-------
Tax on profit
12,561
7,570
--------
-------
6. INTANGIBLE ASSETS
Goodwill
£
Cost
At 28 September 2022 and 26 September 2023
19,000
--------
Amortisation
At 28 September 2022 and 26 September 2023
19,000
--------
Carrying amount
At 26 September 2023
--------
At 27 September 2022
--------
7. TANGIBLE ASSETS
Equipment
£
Cost
At 28 September 2022 and 26 September 2023
10,461
--------
Depreciation
At 28 September 2022
9,188
Charge for the period
254
--------
At 26 September 2023
9,442
--------
Carrying amount
At 26 September 2023
1,019
--------
At 27 September 2022
1,273
--------
8. DEBTORS
26 Sep 23
27 Sep 22
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
8,978
8,978
Other debtors
98,809
3,713
---------
--------
107,787
12,691
---------
--------
9. CREDITORS: amounts falling due within one year
26 Sep 23
27 Sep 22
£
£
Bank loans and overdrafts
9,600
9,600
Corporation tax
20,240
7,630
Social security and other taxes
963
907
Other creditors
16,520
5,544
--------
--------
47,323
23,681
--------
--------
10. CREDITORS: amounts falling due after more than one year
26 Sep 23
27 Sep 22
£
£
Bank loans and overdrafts
24,000
33,600
--------
--------