RAINBOW OFFICE DESIGN LIMITED - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04090465 (England and Wales)

Financial Statements for the Year Ended 31st December 2022

for

RAINBOW OFFICE DESIGN LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Anthony Antoniou

Mrs Andrea Antoniou

SECRETARY:

Mrs Andrea Antoniou

REGISTERED OFFICE:

Argyle Court

105 Seven Sisters Road

London

London

N7 7QR

REGISTERED NUMBER:

04090465 (England and Wales)

ACCOUNTANTS:

C. Charles & Co Limited

Chartered Certified Accountants

Argyle Court

105 Seven Sisters Road

London

London

N7 7QR

FIXED ASSETS

Intangible assets

4

5,150

9,425

Tangible assets

5

16,108

21,792

Investments

6

293,963

293,963

315,221

325,180

CURRENT ASSETS

Stocks

231,802

331,941

Debtors

7

1,575,414

672,494

Cash at bank and in hand

3,043,028

2,046,050

4,850,244

3,050,485

CREDITORS

Amounts falling due within one year

8

2,483,780

1,116,668

NET CURRENT ASSETS

2,366,464

1,933,817

TOTAL ASSETS LESS CURRENT LIABILITIES

2,681,685

2,258,997

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,681,585

2,258,897

SHAREHOLDERS' FUNDS

2,681,685

2,258,997

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 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.

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 7th March 2023 and were signed on its behalf by:

Mr Anthony Antoniou - Director

1.	STATUTORY INFORMATION

RAINBOW OFFICE DESIGN 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Branding & Website are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2021 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st January 2022

and 31st December 2022

68,000

22,400

90,400

AMORTISATION

At 1st January 2022

61,200

19,775

80,975

Charge for year

3,400

875

4,275

At 31st December 2022

64,600

20,650

85,250

NET BOOK VALUE

At 31st December 2022

3,400

1,750

5,150

At 31st December 2021

6,800

2,625

9,425

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2022

82,356

Additions

8,985

Disposals

(11,096

)

At 31st December 2022

80,245

DEPRECIATION

At 1st January 2022

60,564

Charge for year

3,573

At 31st December 2022

64,137

NET BOOK VALUE

At 31st December 2022

16,108

At 31st December 2021

21,792

6.	FIXED ASSET INVESTMENTS

Other

investment

£

COST

At 1st January 2022

and 31st December 2022

293,963

NET BOOK VALUE

At 31st December 2022

293,963

At 31st December 2021

293,963

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

1,261,901

353,868

Amounts owed by participating interests

304,804

303,998

Other debtors

8,709

14,628

1,575,414

672,494

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

6,293

5,604

Trade creditors

2,091,706

930,650

Taxation and social security

303,365

82,447

Other creditors

82,416

97,967

2,483,780

1,116,668