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Company registration number: 08524123
Rainbow Childcare (Kirkby) Limited
Unaudited filleted financial statements
31 May 2024
Rainbow Childcare (Kirkby) Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Notes to the financial statements
Rainbow Childcare (Kirkby) Limited
Directors and other information
Directors B Cooper
R Cooper
Company number 08524123
Registered office 392-394 Hoylake Road
Moreton
Wirral
CH46 6DF
Accountant Hailwood & Co.
392-394 Hoylake Road
Moreton
Wirral
CH46 6DF
Rainbow Childcare (Kirkby) Limited
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of Rainbow Childcare (Kirkby) Limited
Year ended 31 May 2024
As described on the Statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 May 2024, as set out on pages 3 to 7.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Hailwood & Co.
Chartered Accountants
392-394 Hoylake Road
Moreton
Wirral
CH46 6DF
10 February 2025
Rainbow Childcare (Kirkby) Limited
Statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 584 778
_______ _______
584 778
Current assets
Debtors 6 4,377 4,238
Cash at bank and in hand 113,690 87,246
_______ _______
118,067 91,484
Creditors: amounts falling due
within one year 7 ( 82,683) ( 50,460)
_______ _______
Net current assets 35,384 41,024
_______ _______
Total assets less current liabilities 35,968 41,802
_______ _______
Net assets 35,968 41,802
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 35,868 41,702
_______ _______
Shareholders funds 35,968 41,802
_______ _______
For the year ending 31 May 2024 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 February 2025 , and are signed on behalf of the board by:
B Cooper
Director
Company registration number: 08524123
Rainbow Childcare (Kirkby) Limited
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Hailwood & Co, 392-394 Hoylake Road, Moreton, Wirral, CH46 6DF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Tangible assets
Tangible assets are initially recorded at cost, and are 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:
Office equipment - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 12 ).
5. Tangible assets
Office equipment Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 June 2023 and 31 May 2024 339 10,031 10,370
_______ _______ _______
Depreciation
At 1 June 2023 314 9,278 9,592
Charge for the year 6 188 194
_______ _______ _______
At 31 May 2024 320 9,466 9,786
_______ _______ _______
Carrying amount
At 31 May 2024 19 565 584
_______ _______ _______
At 31 May 2023 25 753 778
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 3,642 3,986
Other debtors 735 252
_______ _______
4,377 4,238
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 29,343 26,147
Corporation tax 8,060 1,782
Social security and other taxes - 340
Other creditors 45,280 22,191
_______ _______
82,683 50,460
_______ _______
8. Controlling party
The company is controlled by the directors whose names are shown on the director's report.
9. Directors advances, credits and guarantees
All movements on directors advances, credits and guarantees, were as would be expected under normal market conditions, not material in terms of risk or benefits arising and would therefore not influence the users of these accounts when assessing the financial position of the company.