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REGISTERED NUMBER: 02130421 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Spectrum Franchising Limited
Trading as
Rainbow Restoration

Spectrum Franchising Limited (Registered number: 02130421)
Trading as Rainbow Restoration






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spectrum Franchising Limited
Trading as Rainbow Restoration

Company Information
for the Year Ended 31 December 2024







DIRECTORS: C P Roche
M P McMullen





REGISTERED OFFICE: Spectrum House
Lower Oakham Way
Oakham Buisness Park
Mansfield
Nottinghamshire
NG18 5BY





REGISTERED NUMBER: 02130421 (England and Wales)






Spectrum Franchising Limited (Registered number: 02130421)
Trading as Rainbow Restoration

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 106,125 170,350

CURRENT ASSETS
Stocks 205,113 271,491
Debtors 5 738,767 1,178,903
Cash at bank and in hand 1,974,046 1,722,645
2,917,926 3,173,039
CREDITORS
Amounts falling due within one year 6 2,089,001 2,063,259
NET CURRENT ASSETS 828,925 1,109,780
TOTAL ASSETS LESS CURRENT
LIABILITIES

935,050

1,280,130

CREDITORS
Amounts falling due after more than
one year

7

64,008

77,587
NET ASSETS 871,042 1,202,543

CAPITAL AND RESERVES
Called up share capital 850,000 850,000
Retained earnings 21,042 352,543
SHAREHOLDERS' FUNDS 871,042 1,202,543

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

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

Spectrum Franchising Limited (Registered number: 02130421)
Trading as Rainbow Restoration

Balance Sheet - continued
31 December 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 July 2025 and were signed on its behalf by:




C P Roche - Director



M P McMullen - Director


Spectrum Franchising Limited (Registered number: 02130421)
Trading as Rainbow Restoration

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Spectrum Franchising 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Spectrum Franchising Limited (Registered number: 02130421)
Trading as Rainbow Restoration

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Based on the Board's review of the Company's going concern assessment and the liquidity and cash flow reviews of the Company, the Directors have a reasonable expectation that the Company have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Directors continue to adopt the going concern basis in preparing the Annual report and accounts.

National advertising fund
Under the terms of the franchise agreement between the company and its franchisees, the company charges each franchisee a levy to be applied to a centrally held fund for use in marketing and promoting the franchise network (the 'National Advertising Fund'). Levies received under this fund are accrued as a liability and any expenditure incurred with respect to the fund are debited to the accrual, with the balance being recognised as an accrual on the balance sheet.
.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 32 ) .

Spectrum Franchising Limited (Registered number: 02130421)
Trading as Rainbow Restoration

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 298,939
Additions 17,443
At 31 December 2024 316,382
DEPRECIATION
At 1 January 2024 128,589
Charge for year 81,668
At 31 December 2024 210,257
NET BOOK VALUE
At 31 December 2024 106,125
At 31 December 2023 170,350

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 130,299
DEPRECIATION
At 1 January 2024 55,256
Charge for year 35,591
At 31 December 2024 90,847
NET BOOK VALUE
At 31 December 2024 39,452
At 31 December 2023 75,043

Spectrum Franchising Limited (Registered number: 02130421)
Trading as Rainbow Restoration

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 221,181 991,232
Amounts owed by group undertakings 421,446 145,446
Other debtors 96,140 42,225
738,767 1,178,903

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 15,937 22,586
Trade creditors 326,791 191,318
Amounts owed to group undertakings 11,761 11,761
Taxation and social security 390,263 409,679
Other creditors 1,344,249 1,427,915
2,089,001 2,063,259

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 64,008 77,587