Company registration number SC192488 (Scotland)
RAINBOW CARS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
PAGES FOR FILING WITH REGISTRAR
RAINBOW CARS LIMITED
COMPANY INFORMATION
Directors
R McLeod
S R McLeod
L T Bisset
Company number
SC192488
Registered office
Rainbow House
Craigshaw Road
West Tullos
Aberdeen
AB12 3AR
Accountants
AAB
Kingshill View
Prime Four Business Park
Kingswells
Aberdeen
AB15 8PU
RAINBOW CARS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
RAINBOW CARS LIMITED
BALANCE SHEET
AS AT 31 JULY 2025
31 July 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
65,001
94,881
Tangible assets
3
1,592,032
1,198,541
Investments
5
53,595
53,595
1,710,628
1,347,017
Current assets
Debtors
6
2,440,637
2,413,999
Cash at bank and in hand
889,704
821,846
3,330,341
3,235,845
Creditors: amounts falling due within one year
7
(1,571,352)
(1,314,187)
Net current assets
1,758,989
1,921,658
Total assets less current liabilities
3,469,617
3,268,675
Creditors: amounts falling due after more than one year
8
(1,048,467)
(922,033)
Net assets
2,421,150
2,346,642
Capital and reserves
Called up share capital
10
90
90
Capital redemption reserve
10
10
Profit and loss reserves
2,421,050
2,346,542
Total equity
2,421,150
2,346,642
RAINBOW CARS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2025
31 July 2025
- 2 -

For the financial year ended 31 July 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 8 April 2026 and are signed on its behalf by:
R MCLEOD
R McLeod
Director
Company registration number SC192488 (Scotland)
RAINBOW CARS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 3 -
1
Accounting policies
Company information

Rainbow Cars Limited is a private company limited by shares incorporated in Scotland. The registered office is Rainbow House, Craigshaw Road, West Tullos, Aberdeen, AB12 3AR.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is between 5 and 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

RAINBOW CARS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 4 -
1.5
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:

Furniture, fittings and equipment
20% straight line
Motor vehicles
25 - 33% straight line
Tenants' improvements
Over the term of the lease

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.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

1.9
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

RAINBOW CARS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Retirement benefits

The company operates a defined contribution plan for it's employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

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

2025
2024
Number
Number
Total
47
44
RAINBOW CARS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 6 -
3
Tangible fixed assets
Furniture, fittings and equipment
Motor vehicles
Tenants' improvements
Total
£
£
£
£
Cost
At 1 August 2024
291,692
2,735,647
221,276
3,248,615
Additions
15,256
1,090,496
-
1,105,752
Disposals
(16,510)
(365,677)
-
(382,187)
At 31 July 2025
290,438
3,460,466
221,276
3,972,180
Depreciation and impairment
At 1 August 2024
247,533
1,581,265
221,276
2,050,074
Depreciation charged in the year
22,170
683,486
-
705,656
Eliminated in respect of disposals
(16,510)
(359,072)
-
(375,582)
At 31 July 2025
253,193
1,905,679
221,276
2,380,148
Carrying amount
At 31 July 2025
37,245
1,554,787
-
1,592,032
At 31 July 2024
44,159
1,154,382
-
1,198,541
4
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2024 and 31 July 2025
987,307
Amortisation and impairment
At 1 August 2024
892,426
Amortisation charged for the year
29,880
At 31 July 2025
922,306
Carrying amount
At 31 July 2025
65,001
At 31 July 2024
94,881
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
53,595
53,595
RAINBOW CARS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 7 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
374,238
434,763
Amounts owed by group undertakings
600,836
600,836
Other debtors
763,160
765,799
Prepayments and accrued income
134,403
44,601
1,872,637
1,845,999
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
568,000
568,000
Total debtors
2,440,637
2,413,999

Included within other debtors are loans which although repayable on demand are unlikely to be called for repayment in full in the next 12 months. An estimate of the amount recoverable in more than one year is included above.

7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
9
126,667
140,000
Obligations under finance leases
703,341
496,517
Trade creditors
34,093
50,860
Amounts owed to group undertakings
40,718
40,718
Corporation tax
224,103
189,286
Other taxation and social security
207,064
232,197
Other creditors
42,757
42,757
Accruals and deferred income
192,609
121,852
1,571,352
1,314,187
8
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
9
45,000
171,667
Obligations under finance leases
1,003,467
750,366
1,048,467
922,033
RAINBOW CARS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 8 -
9
Loans and overdrafts
2025
2024
£
£
Bank loans
171,667
311,667
Payable within one year
126,667
140,000
Payable after one year
45,000
171,667

Bank loans are secured by an inter company guarantee from Rainbow (Aberdeen) Limited and by a bond & floating charge over the assets of the company. One of the directors has granted a personal guarantee to the company's bankers.

10
Called up share capital
2025
2024
£
£
Ordinary share capital
Authorised
90 Ordinary shares of £1 each
90
90
Issued and fully paid
90 Ordinary shares of £1 each
90
90
11
Events after the reporting date

On 7 October 20 25, the C ompany completed the purchase of Computer Cab (Aberdeen) Limited.

This transaction occurred after the reporting date and therefore has not been reflected in the financial statements. The purchase represents a non-adjusting event after the reporting period.

Management does not consider that this event has any impact on the amounts recognised in these financial statements for the year ended 3 1 July 20 25, but it is disclosed here to provide users with relevant information regarding events subsequent to the year end.

12
Related party transactions

During the year, the company received no credits and made no advances to a director which resulted in amounts due to the company at the year end of £500,000 (2024 - £500,000).

13
Parent company

The company is a subsidiary of Rainbow (Aberdeen) Limited, a company incorporated in Scotland.

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