Registered number
10005018
RAINBOW MEAT LTD
Filleted Accounts
28 February 2025
RAINBOW MEAT LTD
Registered number: 10005018
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 568,419 89,278
Current assets
Stocks 281,427 57,122
Debtors 4 526,826 186,126
Investments held as current assets 5 135,412 -
Cash at bank and in hand 1,906 54,096
945,571 297,344
Creditors: amounts falling due within one year 6 (249,749) (103,084)
Net current assets 695,822 194,260
Total assets less current liabilities 1,264,241 283,538
Creditors: amounts falling due after more than one year 7 (128,126) (154,467)
Provisions for liabilities (5,331) (8,285)
Net assets 1,130,784 120,786
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 1,129,784 119,786
Shareholders' funds 1,130,784 120,786
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Aziz Kose
Director
Approved by the board on 14 May 2025
RAINBOW MEAT LTD
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery & Fixtures 20% reducing balance
Motor vehicle 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates of 25% and have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. The finance charge is allocated to each period during the lease. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 31 29
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2024 88,762 131,319 220,081
Additions 413,273 105,290 518,563
At 28 February 2025 502,035 236,609 738,644
Depreciation
At 1 March 2024 49,946 80,857 130,803
Charge for the year 21,980 17,442 39,422
At 28 February 2025 71,926 98,299 170,225
Net book value
At 28 February 2025 430,109 138,310 568,419
At 29 February 2024 38,816 50,462 89,278
4 Debtors 2025 2024
£ £
Trade debtors 510,077 152,793
Other debtors 16,749 33,333
526,826 186,126
5 Investments held as current assets 2025 2024
£ £
Fair value
Unlisted investments 135,412 -
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 38,905 -
Trade creditors 38,877 29,745
Taxation and social security costs 135,220 15,457
Other creditors 36,747 57,882
249,749 103,084
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 128,126 154,467
8 Controlling party
Mr Aziz Kose
9 Other information
RAINBOW MEAT LTD is a private company limited by shares and incorporated in England. Its registered office is:
C/O : 183 Angle Place
Fore Street
London
England
N18 2UD
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