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Registered number: 07797328
Rainbow Eco Products Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Kenyon & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07797328
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 341,530 403,195
341,530 403,195
CURRENT ASSETS
Stocks 280,000 360,000
Debtors 5 82,255 21,463
Cash at bank and in hand 42,795 -
405,050 381,463
Creditors: Amounts Falling Due Within One Year 6 (845,828 ) (710,871 )
NET CURRENT ASSETS (LIABILITIES) (440,778 ) (329,408 )
TOTAL ASSETS LESS CURRENT LIABILITIES (99,248 ) 73,787
Creditors: Amounts Falling Due After More Than One Year 7 (114,604 ) (161,490 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (43,552 ) (43,552 )
NET LIABILITIES (257,404 ) (131,255 )
CAPITAL AND RESERVES
Called up share capital 296 296
Share premium account 34,400 34,400
Profit and Loss Account (292,100 ) (165,951 )
SHAREHOLDERS' FUNDS (257,404) (131,255)
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Croker
Director
22 June 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rainbow Eco Products Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07797328 . The registered office is Higher Whitnell Farm, Binegar, Radstock, Somerset, BA3 4UJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
These financial statements have been prepared using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
2.2. Turnover
Turnover comprised the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
Is is probable that the future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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 is recognised on 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
Page 3
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2.6. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 12)
15 12
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 October 2023 99,468 844,720 31,600 975,788
As at 30 September 2024 99,468 844,720 31,600 975,788
Depreciation
As at 1 October 2023 86,538 469,354 16,701 572,593
Provided during the period 1,813 56,571 3,281 61,665
As at 30 September 2024 88,351 525,925 19,982 634,258
Net Book Value
As at 30 September 2024 11,117 318,795 11,618 341,530
As at 1 October 2023 12,930 375,366 14,899 403,195
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 82,255 21,463
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 328,482 247,556
Bank loans and overdrafts 65,515 61,875
Other loans 50,000 50,000
Other creditors 167,059 190,670
Taxation and social security 234,772 160,770
845,828 710,871
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 114,604 161,490
Page 4