Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-212024-07-21truefalseNo description of principal activitytrue2023-06-15The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false20 14939184 2023-06-14 14939184 2023-06-15 2024-07-21 14939184 2022-06-15 2023-06-14 14939184 2024-07-21 14939184 c:Director1 2023-06-15 2024-07-21 14939184 d:CurrentFinancialInstruments 2024-07-21 14939184 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-21 14939184 d:ShareCapital 2024-07-21 14939184 d:RetainedEarningsAccumulatedLosses 2024-07-21 14939184 c:OrdinaryShareClass1 2023-06-15 2024-07-21 14939184 c:OrdinaryShareClass1 2024-07-21 14939184 c:FRS102 2023-06-15 2024-07-21 14939184 c:AuditExempt-NoAccountantsReport 2023-06-15 2024-07-21 14939184 c:FullAccounts 2023-06-15 2024-07-21 14939184 c:PrivateLimitedCompanyLtd 2023-06-15 2024-07-21 14939184 e:PoundSterling 2023-06-15 2024-07-21 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14939184









RAINBOW EXPERIENCE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 21 JULY 2024

 
RAINBOW EXPERIENCE LIMITED
REGISTERED NUMBER: 14939184

STATEMENT OF FINANCIAL POSITION
AS AT 21 JULY 2024

2024
Note
£

  

Current assets
  

Stocks
 4 
972,870

Debtors: amounts falling due within one year
 5 
383,322

Cash at bank and in hand
  
57,534

  
1,413,726

Creditors: amounts falling due within one year
 6 
(1,134,803)

Net current assets
  
 
 
278,923

Total assets less current liabilities
  
278,923

  

Net assets
  
278,923


Capital and reserves
  

Called up share capital 
 7 
100

Profit and loss account
  
278,823

  
278,923


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 November 2024.


E J Brunjes
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
RAINBOW EXPERIENCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 21 JULY 2024

1.


General information

Rainbow Experience Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 26 Great Queen Street, London, WC2B 5BL.
The company was Incorporated on 15 June 2023 and began trading on this date.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Functional and presentation currency

The Company's functional and presentational currency is GBP rounded to the nearest £.  

 
2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings. The current income 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 income.
The Company is eligible to claim a tax credit on the production costs; the tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The Company claims a payment based on the amount of enhanced expenditure and carries losses arising from total net costs forward against future profits.

 
2.4

Stocks - Production costs

Stocks comprise theatre production costs, which are recorded as a current asset. Theatre production costs will be amortised to the Statement of Income and Retained Earnings over the anticipated number of weeks the show will run.

Page 2

 
RAINBOW EXPERIENCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 21 JULY 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Stocks

2024
£

Production costs
972,870


Page 3

 
RAINBOW EXPERIENCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 21 JULY 2024

5.


Debtors

2024
£


Other debtors
70,265

Prepayments and accrued income
29,234

Tax recoverable
283,823

383,322



6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
154,946

Other creditors
800,025

Accruals and deferred income
179,832

1,134,803



7.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


On incorporation the company issued 100 ordinary shares of £1 each for cash at par.


8.


Related party transactions

During the period, advances totalling £260,000 were received from Emma Brunjes Productions Limited, a shareholder of the company. At the reporting date £260,000 was owed to Emma Brunjes Productions Limited, which is included in other creditors. The loan is repayable on demand and not interest bearing.
During the period, advances totalling £260,000 were received from Fiery Angel Entertainment Limited, a shareholder of the company. At the reporting date £260,000 was owed to Fiery Angel Entertainment Limited, which is included in other creditors. The loan is repayable on demand and not interest bearing.

 
Page 4