Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01provision of music recording and live production servicestruefalse11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02807088 2023-05-01 2024-04-30 02807088 2022-05-01 2023-04-30 02807088 2024-04-30 02807088 2023-04-30 02807088 c:Director1 2023-05-01 2024-04-30 02807088 d:PlantMachinery 2023-05-01 2024-04-30 02807088 d:PlantMachinery 2024-04-30 02807088 d:PlantMachinery 2023-04-30 02807088 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02807088 d:FurnitureFittings 2023-05-01 2024-04-30 02807088 d:FurnitureFittings 2024-04-30 02807088 d:FurnitureFittings 2023-04-30 02807088 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02807088 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02807088 d:CurrentFinancialInstruments 2024-04-30 02807088 d:CurrentFinancialInstruments 2023-04-30 02807088 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 02807088 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02807088 d:ShareCapital 2024-04-30 02807088 d:ShareCapital 2023-04-30 02807088 d:RetainedEarningsAccumulatedLosses 2024-04-30 02807088 d:RetainedEarningsAccumulatedLosses 2023-04-30 02807088 c:FRS102 2023-05-01 2024-04-30 02807088 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 02807088 c:FullAccounts 2023-05-01 2024-04-30 02807088 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02807088 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 02807088






RAINBOW PRODUCTIONS (SUSSEX) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










img754f.png

 
RAINBOW PRODUCTIONS (SUSSEX) LIMITED
REGISTERED NUMBER:02807088

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,605
2,149

  
1,605
2,149

Current assets
  

Stocks
  
19,035
21,150

Debtors: amounts falling due within one year
 5 
164,474
35,969

Cash at bank and in hand
 6 
8,638
13,404

  
192,147
70,523

Creditors: amounts falling due within one year
 7 
(87,608)
(77,346)

Net current assets/(liabilities)
  
 
 
104,539
 
 
(6,823)

Total assets less current liabilities
  
106,144
(4,674)

  

Net assets/(liabilities)
  
106,144
(4,674)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
106,044
(4,774)

  
106,144
(4,674)


Page 1

 
RAINBOW PRODUCTIONS (SUSSEX) LIMITED
REGISTERED NUMBER:02807088
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers 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 year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 26 February 2025.




................................................
P D Rayner-Brown
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
RAINBOW PRODUCTIONS (SUSSEX) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Rainbow Productions (Sussex) Limited is a private company limited by shares, incorporated in England
and Wales. Its registered office is St Giles Cottage, Langridge Lane, Haywards Heath, West Sussex,
RH16 3LG.
The principal activity of the company continued to be that of the provision of music recording and live
production services.

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

Going concern

Although the company has net liabilities, the financial statements have been prepared on the going
concern basis due to the continued support of the director and Pro Music International Limited.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 3

 
RAINBOW PRODUCTIONS (SUSSEX) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
RAINBOW PRODUCTIONS (SUSSEX) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 May 2023
17,833
49,492
67,325



At 30 April 2024

17,833
49,492
67,325



Depreciation


At 1 May 2023
17,813
47,363
65,176


Charge for the year on owned assets
5
539
544



At 30 April 2024

17,818
47,902
65,720



Net book value



At 30 April 2024
15
1,590
1,605



At 30 April 2023
20
2,129
2,149


5.


Debtors

2024
2023
£
£


Other debtors
164,474
20,978

Prepayments and accrued income
-
14,991

164,474
35,969



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,638
13,404

8,638
13,404


Page 5

 
RAINBOW PRODUCTIONS (SUSSEX) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
29,089
29,346

Other creditors
53,469
42,950

Accruals and deferred income
5,050
5,050

87,608
77,346


 
Page 6