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REGISTERED NUMBER: 13901557 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

RAINBOW FABRICS LIMITED

RAINBOW FABRICS LIMITED (REGISTERED NUMBER: 13901557)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAINBOW FABRICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr Yusuf Ashraf
Mrs Sehrush Suqleen Butt





REGISTERED OFFICE: Unit 5 Kilburn Market
Kilburn High Road
Kilburn
NW6 6PP





REGISTERED NUMBER: 13901557 (England and Wales)






RAINBOW FABRICS LIMITED (REGISTERED NUMBER: 13901557)

BALANCE SHEET
29 FEBRUARY 2024

29/2/24 28/2/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 8,133 3,212

CURRENT ASSETS
Stocks 5 60,580 28,500
Debtors 6 2,000 -
Cash at bank and in hand 22,969 2,915
85,549 31,415
CREDITORS
Amounts falling due within one year 7 69,269 22,835
NET CURRENT ASSETS 16,280 8,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,413

11,792

CREDITORS
Amounts falling due after more than one
year

8

-

3,689
NET ASSETS 24,413 8,103

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 24,313 8,003
SHAREHOLDERS' FUNDS 24,413 8,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RAINBOW FABRICS LIMITED (REGISTERED NUMBER: 13901557)

BALANCE SHEET - continued
29 FEBRUARY 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:





Mr Yusuf Ashraf - Director


RAINBOW FABRICS LIMITED (REGISTERED NUMBER: 13901557)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Rainbow Fabrics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

RAINBOW FABRICS LIMITED (REGISTERED NUMBER: 13901557)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 1,016 3,199 4,215
Additions 4,140 2,945 7,085
At 29 February 2024 5,156 6,144 11,300
DEPRECIATION
At 1 March 2023 203 800 1,003
Charge for year 828 1,336 2,164
At 29 February 2024 1,031 2,136 3,167
NET BOOK VALUE
At 29 February 2024 4,125 4,008 8,133
At 28 February 2023 813 2,399 3,212

5. STOCKS
29/2/24 28/2/23
£    £   
Stocks 60,580 28,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Other debtors 2,000 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade creditors 16,250 -
Tax 4,752 1,319
Social security and other taxes 464 -
VAT 8,215 -
Directors' current accounts 38,421 20,766
Accrued expenses 1,167 750
69,269 22,835

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Social security and other taxes - 36
Other creditors - 3,653
- 3,689

RAINBOW FABRICS LIMITED (REGISTERED NUMBER: 13901557)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
100 Ordinary 1 100 100

10. RESERVES
Retained
earnings
£   

At 1 March 2023 8,003
Profit for the year 16,310
At 29 February 2024 24,313