Company registration number 03403820 (England and Wales)
RAINBOW CARPETS (WELLING) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
RAINBOW CARPETS (WELLING) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RAINBOW CARPETS (WELLING) LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
6,868
8,151
Current assets
Stocks
90,000
90,000
Debtors
5
558,669
282,700
Cash at bank and in hand
268,437
345,001
917,106
717,701
Creditors: amounts falling due within one year
6
(229,598)
(200,656)
Net current assets
687,508
517,045
Net assets
694,376
525,196
Capital and reserves
Called up share capital
100
100
Capital redemption reserve
3,400
3,400
Profit and loss reserves
690,876
521,696
Total equity
694,376
525,196

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 August 2025 and are signed on its behalf by:
A D Crane
Director
Company registration number 03403820 (England and Wales)
RAINBOW CARPETS (WELLING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Rainbow Carpets (Welling) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 31, Mulberry Court, Bourne Industrial Park, Bourne Road, Crayford, Dartford, DA1 4BF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
15% of net book value
Motor vehicles
25% of net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

RAINBOW CARPETS (WELLING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
4
4
RAINBOW CARPETS (WELLING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
4
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2024
11,708
17,128
28,836
Additions
426
-
0
426
At 31 March 2025
12,134
17,128
29,262
Depreciation and impairment
At 1 April 2024
7,776
12,909
20,685
Depreciation charged in the year
654
1,055
1,709
At 31 March 2025
8,430
13,964
22,394
Carrying amount
At 31 March 2025
3,704
3,164
6,868
At 31 March 2024
3,932
4,219
8,151
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
245,520
281,759
Other debtors
312,769
535
Prepayments and accrued income
380
406
558,669
282,700
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
75,438
84,474
Taxation and social security
104,706
74,133
Other creditors
49,454
42,049
229,598
200,656
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