1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-29 Sage Accounts Production Advanced 2024 - FRS102_2024 18,000 18,000 xbrli:pure xbrli:shares iso4217:GBP 06692594 2023-09-29 2024-09-28 06692594 2024-09-28 06692594 2023-09-28 06692594 2022-09-29 2023-09-28 06692594 2023-09-28 06692594 2022-09-28 06692594 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-29 2024-09-28 06692594 core:PlantMachinery 2023-09-29 2024-09-28 06692594 core:FurnitureFittings 2023-09-29 2024-09-28 06692594 bus:Director1 2023-09-29 2024-09-28 06692594 core:NetGoodwill 2024-09-28 06692594 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-28 06692594 core:PlantMachinery 2023-09-28 06692594 core:FurnitureFittings 2023-09-28 06692594 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-28 06692594 core:PlantMachinery 2024-09-28 06692594 core:FurnitureFittings 2024-09-28 06692594 core:WithinOneYear 2024-09-28 06692594 core:WithinOneYear 2023-09-28 06692594 core:AfterOneYear 2024-09-28 06692594 core:AfterOneYear 2023-09-28 06692594 core:ShareCapital 2024-09-28 06692594 core:ShareCapital 2023-09-28 06692594 core:RevaluationReserve 2024-09-28 06692594 core:RevaluationReserve 2023-09-28 06692594 core:RetainedEarningsAccumulatedLosses 2024-09-28 06692594 core:RetainedEarningsAccumulatedLosses 2023-09-28 06692594 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-28 06692594 core:PlantMachinery 2023-09-28 06692594 core:FurnitureFittings 2023-09-28 06692594 bus:SmallEntities 2023-09-29 2024-09-28 06692594 bus:AuditExemptWithAccountantsReport 2023-09-29 2024-09-28 06692594 bus:SmallCompaniesRegimeForAccounts 2023-09-29 2024-09-28 06692594 bus:PrivateLimitedCompanyLtd 2023-09-29 2024-09-28 06692594 bus:FullAccounts 2023-09-29 2024-09-28 06692594 core:OfficeEquipment 2023-09-29 2024-09-28 06692594 core:OfficeEquipment 2024-09-28 06692594 core:OfficeEquipment 2023-09-28
COMPANY REGISTRATION NUMBER: 06692594
Rainbow London Ltd
Filleted Unaudited Financial Statements
28 September 2024
Rainbow London Ltd
Statement of Financial Position
28 September 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
1,535,232
1,558,940
Current assets
Stocks
11,847
9,847
Debtors
7
36,683
7,777
Cash at bank and in hand
18,156
5,500
--------
--------
66,686
23,124
Creditors: amounts falling due within one year
8
468,174
378,296
---------
---------
Net current liabilities
401,488
355,172
------------
------------
Total assets less current liabilities
1,133,744
1,203,768
Creditors: amounts falling due after more than one year
9
856,369
885,219
Provisions
126,523
126,523
------------
------------
Net assets
150,852
192,026
------------
------------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
764,871
764,871
Profit and loss account
( 614,020)
( 572,846)
---------
---------
Shareholders funds
150,852
192,026
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Rainbow London Ltd
Statement of Financial Position (continued)
28 September 2024
These financial statements were approved by the board of directors and authorised for issue on 26 June 2025 , and are signed on behalf of the board by:
Mr J Constantinou
Director
Company registration number: 06692594
Rainbow London Ltd
Notes to the Financial Statements
Year ended 28 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10-12 Lumina Way, Lumina Park, Enfield, EN1 1FS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
1% reducing balance
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance
Equipment
-
25% reducing balance
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 stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 29 September 2023 and 28 September 2024
18,000
--------
Amortisation
At 29 September 2023 and 28 September 2024
18,000
--------
Carrying amount
At 28 September 2024
--------
At 28 September 2023
--------
6. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 29 September 2023 and 28 September 2024
1,683,644
33,053
274,275
37,672
2,028,644
------------
--------
---------
--------
------------
Depreciation
At 29 September 2023
180,656
31,616
221,170
36,262
469,704
Charge for the year
15,030
359
7,966
353
23,708
------------
--------
---------
--------
------------
At 28 September 2024
195,686
31,975
229,136
36,615
493,412
------------
--------
---------
--------
------------
Carrying amount
At 28 September 2024
1,487,958
1,078
45,139
1,057
1,535,232
------------
--------
---------
--------
------------
At 28 September 2023
1,502,988
1,437
53,105
1,410
1,558,940
------------
--------
---------
--------
------------
7. Debtors
2024
2023
£
£
Trade debtors
36,683
7,445
Other debtors
332
--------
-------
36,683
7,777
--------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
36,400
36,400
Trade creditors
116,167
114,268
Amounts owed to group undertakings and undertakings in which the company has a participating interest
153,894
109,594
Social security and other taxes
36,551
Other creditors
125,162
118,034
---------
---------
468,174
378,296
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
856,369
885,219
---------
---------