Rainbow Coatings Limited - Accounts to registrar - small 16.1.1

Rainbow Coatings Limited - Accounts to registrar - small 16.1.1

RAINBOW COATINGS LIMITED - Company Information

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REGISTERED NUMBER: 06776414 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2015

for

Rainbow Coatings Limited

Rainbow Coatings Limited (Registered number: 06776414)






Contents of the Financial Statements
for the Year Ended 31 December 2015




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rainbow Coatings Limited

Company Information
for the Year Ended 31 December 2015







DIRECTORS: P D Long
J Long





REGISTERED OFFICE: 45 Kensington Road
Southport
Merseyside
PR9 0RT





REGISTERED NUMBER: 06776414 (England and Wales)





ACCOUNTANTS: Kirkwood Wilson Limited
45 Kensington Road
Southport
Merseyside
PR9 0RT
Page 1
Rainbow Coatings Limited (Registered number: 06776414)

Balance Sheet
31 December 2015

31.12.15 31.12.14
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 2,850 3,800
Tangible assets 3 10,892 14,523
13,742 18,323

CURRENT ASSETS
Debtors 4 99,298 44,792
Cash at bank 65,639 34,288
164,937 79,080
CREDITORS
Amounts falling due within one year 5 146,886 59,533
NET CURRENT ASSETS 18,051 19,547
TOTAL ASSETS LESS CURRENT LIABILITIES 31,793 37,870

CREDITORS
Amounts falling due after more than one year 6 7,227 10,696
NET ASSETS 24,566 27,174

CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and loss account 10 24,466 27,074
SHAREHOLDERS' FUNDS 24,566 27,174

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 13 September 2016 and were signed on its behalf by:





J Long - Director


The notes form part of these financial statements

Page 2
Rainbow Coatings Limited (Registered number: 06776414)

Notes to the Financial Statements
for the Year Ended 31 December 2015

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for
Smaller Entities (effective January 2015).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten 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 - 25% on reducing balance

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

2. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2015
and 31 December 2015 9,500
AMORTISATION
At 1 January 2015 5,700
Charge for year 950
At 31 December 2015 6,650
NET BOOK VALUE
At 31 December 2015 2,850
At 31 December 2014 3,800

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2015
and 31 December 2015 23,462
DEPRECIATION
At 1 January 2015 8,939
Charge for year 3,631
At 31 December 2015 12,570
NET BOOK VALUE
At 31 December 2015 10,892
At 31 December 2014 14,523

Page 3 continued...
Rainbow Coatings Limited (Registered number: 06776414)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2015

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.15 31.12.14
£    £   
Trade debtors 99,222 36,563
Other debtors 76 8,229
99,298 44,792

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.15 31.12.14
£    £   
Hire purchase contracts 3,469 3,469
Trade creditors 8,236 4,171
Taxation and social security 103,955 46,215
Other creditors 31,226 5,678
146,886 59,533

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.15 31.12.14
£    £   
Hire purchase contracts 7,227 10,696

7. LOANS

An analysis of the maturity of loans is given below:

31.12.15 31.12.14
£    £   

8. OPERATING LEASE COMMITMENTS

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.15 31.12.14
value: £    £   
100 Ordinary £1.00 100 100

10. RESERVES
Profit
and loss
account
£   

At 1 January 2015 27,074
Profit for the year 112,392
Dividends (115,000 )
At 31 December 2015 24,466


Page 4