1 November 2023 v2025.15.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP083474232023-11-012024-10-31083474232024-10-31083474232023-10-3108347423core:WithinOneYear2024-10-3108347423core:WithinOneYear2023-10-3108347423core:ShareCapital2024-10-3108347423core:ShareCapital2023-10-3108347423core:RetainedEarningsAccumulatedLosses2024-10-3108347423core:RetainedEarningsAccumulatedLosses2023-10-3108347423bus:Director12023-11-012024-10-3108347423bus:RegisteredOffice2023-11-012024-10-31083474232022-11-012023-10-310834742312023-11-012024-10-3108347423countries:EnglandWales2023-11-012024-10-3108347423bus:AuditExemptWithAccountantsReport2023-11-012024-10-3108347423bus:PrivateLimitedCompanyLtd2023-11-012024-10-3108347423bus:SmallEntities2023-11-012024-10-3108347423bus:FullAccounts2023-11-012024-10-31
Company registration number:
08347423
Rainbow Construction Limited
Unaudited Filleted Financial Statements for the year ended
31 October 2024
Rainbow Construction Limited
Statement of Financial Position
31 October 2024
20242023
Note££
Current assets    
Stocks
29,090
 
31,107
 
Debtors 5
1,750
 
35,080
 
Cash at bank and in hand
3,017
 
3,981
 
33,857
 
70,168
 
Creditors: amounts falling due within one year 6
(11,414
)
(40,262
)
Net current assets
22,443
 
29,906
 
Total assets less current liabilities 22,443   29,906  
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
22,343
 
29,806
 
Shareholders funds
22,443
 
29,906
 
For the year ending
31 October 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
17 February 2025
, and are signed on behalf of the board by:
Mrs K Seddon
Director
Company registration number:
08347423
Rainbow Construction Limited
Notes to the Financial Statements
Year ended
31 October 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Top Of The Bank Farm
,
Roundhill Lane
,
Haslingden
,
Lancashire
,
BB4 5TY
.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services supplied, 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. Revenue from the provision of services is recognised when the work has been performed.

Current 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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2
).

5 Debtors

20242023
££
Other debtors
1,750
 
35,080
 

6 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
5,518
  -  
Taxation and social security
463
 
6,873
 
Other creditors
5,433
 
33,389
 
11,414
 
40,262