IRIS Accounts Production v25.1.3.33 10874502 Board of Directors 1.11.23 31.10.24 31.10.24 false true false false false true false Ordinary 1.00000 Ordinary "A" 1.00000 Ordinary "B" 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh108745022023-10-31108745022024-10-31108745022023-11-012024-10-31108745022022-10-31108745022022-11-012023-10-31108745022023-10-3110874502ns15:EnglandWales2023-11-012024-10-3110874502ns14:PoundSterling2023-11-012024-10-3110874502ns10:Director12023-11-012024-10-3110874502ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3110874502ns10:SmallEntities2023-11-012024-10-3110874502ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3110874502ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3110874502ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3110874502ns10:FullAccounts2023-11-012024-10-311087450212023-11-012024-10-3110874502ns10:OrdinaryShareClass12023-11-012024-10-3110874502ns10:OrdinaryShareClass22023-11-012024-10-3110874502ns10:OrdinaryShareClass32023-11-012024-10-3110874502ns10:Director22023-11-012024-10-3110874502ns10:Director32023-11-012024-10-3110874502ns10:RegisteredOffice2023-11-012024-10-3110874502ns5:CurrentFinancialInstruments2024-10-3110874502ns5:CurrentFinancialInstruments2023-10-3110874502ns5:ShareCapital2024-10-3110874502ns5:ShareCapital2023-10-3110874502ns5:RetainedEarningsAccumulatedLosses2024-10-3110874502ns5:RetainedEarningsAccumulatedLosses2023-10-3110874502ns5:NetGoodwill2023-11-012024-10-3110874502ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3110874502ns5:MotorVehicles2023-11-012024-10-3110874502ns5:ComputerEquipment2023-11-012024-10-3110874502ns5:NetGoodwill2023-10-3110874502ns5:NetGoodwill2024-10-3110874502ns5:NetGoodwill2023-10-3110874502ns5:MotorVehicles2023-10-3110874502ns5:ComputerEquipment2023-10-3110874502ns5:MotorVehicles2024-10-3110874502ns5:ComputerEquipment2024-10-3110874502ns5:MotorVehicles2023-10-3110874502ns5:ComputerEquipment2023-10-3110874502ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3110874502ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3110874502ns10:OrdinaryShareClass12024-10-3110874502ns10:OrdinaryShareClass22024-10-3110874502ns10:OrdinaryShareClass32024-10-3110874502ns5:RetainedEarningsAccumulatedLosses2023-10-3110874502ns5:RetainedEarningsAccumulatedLosses2023-11-012024-10-31
REGISTERED NUMBER: 10874502 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 October 2024

for

Rainbow Painting Contractors Ltd

Rainbow Painting Contractors Ltd (Registered number: 10874502)






Contents of the Financial Statements
For The Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rainbow Painting Contractors Ltd

Company Information
For The Year Ended 31 October 2024







DIRECTORS: I P Ocock
A J Ocock
A Ocock





REGISTERED OFFICE: Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE





REGISTERED NUMBER: 10874502 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

Rainbow Painting Contractors Ltd (Registered number: 10874502)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 8,000
Tangible assets 5 24,097 31,168
30,097 39,168

CURRENT ASSETS
Debtors 6 99,031 58,484
Cash at bank 136,321 77,874
235,352 136,358
CREDITORS
Amounts falling due within one year 7 98,909 74,235
NET CURRENT ASSETS 136,443 62,123
TOTAL ASSETS LESS CURRENT
LIABILITIES

166,540

101,291

CAPITAL AND RESERVES
Called up share capital 8 103 103
Retained earnings 9 166,437 101,188
SHAREHOLDERS' FUNDS 166,540 101,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 2 June 2025 and were signed on its behalf by:




I P Ocock - Director


Rainbow Painting Contractors Ltd (Registered number: 10874502)

Notes to the Financial Statements
For The Year Ended 31 October 2024

1. STATUTORY INFORMATION

Rainbow Painting Contractors Ltd 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 and is recognised as services are provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost
Computer equipment - 25% on cost


Rainbow Painting Contractors Ltd (Registered number: 10874502)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 20,000
AMORTISATION
At 1 November 2023 12,000
Charge for year 2,000
At 31 October 2024 14,000
NET BOOK VALUE
At 31 October 2024 6,000
At 31 October 2023 8,000

Rainbow Painting Contractors Ltd (Registered number: 10874502)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 52,223 3,680 55,903
Additions - 833 833
Disposals (21,500 ) - (21,500 )
At 31 October 2024 30,723 4,513 35,236
DEPRECIATION
At 1 November 2023 21,500 3,235 24,735
Charge for year 7,681 223 7,904
Eliminated on disposal (21,500 ) - (21,500 )
At 31 October 2024 7,681 3,458 11,139
NET BOOK VALUE
At 31 October 2024 23,042 1,055 24,097
At 31 October 2023 30,723 445 31,168

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 54,631 13,505
Other debtors 44,400 44,979
99,031 58,484

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Corporation tax 24,796 5,070
Social security and other taxes 8,875 1,712
VAT 16,262 12,845
Other creditors 1,302 1,302
Directors' current accounts 46,174 51,806
Accrued expenses 1,500 1,500
98,909 74,235

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary £1 100 100
1 Ordinary "A" £1 1 1
1 Ordinary "B" £1 1 1
102 102

Rainbow Painting Contractors Ltd (Registered number: 10874502)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

9. RESERVES
Retained
earnings
£   

At 1 November 2023 101,188
Profit for the year 66,749
Dividends (1,500 )
At 31 October 2024 166,437