Rainbow Room International Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC142994 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Rainbow Room International Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Stewart

Mrs L E Stewart

SECRETARY:

Mrs L E Stewart

REGISTERED OFFICE:

64 Howard St

Glasgow

G1 4EE

REGISTERED NUMBER:

SC142994 (Scotland)

ACCOUNTANTS:

Ballantyne & Company

Chartered Certified Accountants

60 St Enoch Square

Glasgow

Lanarkshire

G1 4AG

FIXED ASSETS

Tangible assets

4

109,008

36,581

CURRENT ASSETS

Stocks

49,116

48,849

Debtors

5

299,354

235,751

Cash at bank

62,290

60,979

410,760

345,579

CREDITORS

Amounts falling due within one year

6

(2,019,089

)

(2,044,814

)

NET CURRENT ASSETS

2,429,849

2,390,393

TOTAL ASSETS LESS CURRENT LIABILITIES

2,538,857

2,426,974

CREDITORS

Amounts falling due after more than one year

7

35,026

-

NET ASSETS

2,503,831

2,426,974

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,503,731

2,426,874

SHAREHOLDERS' FUNDS

2,503,831

2,426,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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.

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 on 20 December 2018 and were signed on its behalf by:

Mrs L E Stewart - Director

1.	STATUTORY INFORMATION

Rainbow Room International Limited is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2017

102,575

30,442

133,017

Additions

4,295

100,730

105,025

At 31 March 2018

106,870

131,172

238,042

DEPRECIATION

At 1 April 2017

78,837

17,599

96,436

Charge for year

4,205

28,393

32,598

At 31 March 2018

83,042

45,992

129,034

NET BOOK VALUE

At 31 March 2018

23,828

85,180

109,008

At 31 March 2017

23,738

12,843

36,581

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other debtors

299,354

235,751

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

19,349

8,252

Trade creditors

10,567

13,358

Taxation and social security

67,675

69,640

Other creditors

(2,116,680

)

(2,136,064

)

(2,019,089

)

(2,044,814

)

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Hire purchase contracts

35,026

-