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Company Registration No. 11424615 (England and Wales)
Rainbow Life Online Ltd Unaudited accounts for the year ended 30 June 2024
Rainbow Life Online Ltd Unaudited accounts Contents
Page
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Rainbow Life Online Ltd Company Information for the year ended 30 June 2024
Director
Emi Bhatt (nee Tanaka)
Company Number
11424615 (England and Wales)
Registered Office
124 City Road London EC1V 2NX United Kingdom
Accountants
DKB Accountancy & Taxation 12 Blackbrook Drive Lodge Moor Sheffield South Yorkshire S10 4LS
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Rainbow Life Online Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
662 
883 
Current assets
Inventories
688 
1,611 
Debtors
47 
2,031 
Cash at bank and in hand
1,665 
1,373 
2,400 
5,015 
Creditors: amounts falling due within one year
(2,617)
(5,663)
Net current liabilities
(217)
(648)
Total assets less current liabilities
445 
235 
Provisions for liabilities
Deferred tax
(126)
(196)
Net assets
319 
39 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
318 
38 
Shareholders' funds
319 
39 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 January 2025 and were signed on its behalf by
Emi Bhatt (nee Tanaka) Director Company Registration No. 11424615
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Rainbow Life Online Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Rainbow Life Online Ltd is a private company, limited by shares, registered in England and Wales, registration number 11424615. The registered office is 124 City Road, London, EC1V 2NX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
25% - reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Rainbow Life Online Ltd Notes to the Accounts for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2023
1,297 
1,429 
2,726 
At 30 June 2024
1,297 
1,429 
2,726 
Depreciation
At 1 July 2023
753 
1,090 
1,843 
Charge for the year
136 
85 
221 
At 30 June 2024
889 
1,175 
2,064 
Net book value
At 30 June 2024
408 
254 
662 
At 30 June 2023
544 
339 
883 
5
Inventories
2024 
2023 
£ 
£ 
Work in progress
688 
1,611 
688 
1,611 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
1,500 
Accrued income and prepayments
47 
260 
Other debtors
- 
271 
47 
2,031 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
- 
327 
Taxes and social security
1,597 
387 
Loans from directors
124 
4,391 
Accruals
896 
558 
2,617 
5,663 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Loans to directors
During the year, advances of £468 (2023: £4,238), were made to; and repayments of £468 (2023: £4,238) were received from directors.
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Rainbow Life Online Ltd Notes to the Accounts for the year ended 30 June 2024
10
Transactions with related parties
At the year-end, a balance of £124 (2023: £4,391), included in "Directors Loans" was owed by the company to the director. This balance was the result of financing provided by the director, is unsecured, interest-free, and repayable on demand.
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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