Rainmaker Sales Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06551032 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2018

for

Rainmaker Sales Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

F W Flanagan

REGISTERED OFFICE:

c/o Prydis

Senate Court

Southernhay Garden

Exeter

Devon

EX1 1NT

REGISTERED NUMBER:

06551032 (England and Wales)

ACCOUNTANTS:

Prydis Accounts Limited

Chartered Accountants

Senate Court

Southernhay Gardens

Exeter

Devon

EX1 1NT

FIXED ASSETS

Tangible assets

4

6,085

7,198

CURRENT ASSETS

Debtors

5

512,867

464,553

Cash at bank

8,740

51,099

521,607

515,652

CREDITORS

Amounts falling due within one year

6

121,083

186,266

NET CURRENT ASSETS

400,524

329,386

TOTAL ASSETS LESS CURRENT LIABILITIES

406,609

336,584

CREDITORS

Amounts falling due after more than one year

7

(148,732

)

-

PROVISIONS FOR LIABILITIES

(1,156

)

(1,440

)

NET ASSETS

256,721

335,144

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

256,719

335,142

SHAREHOLDERS' FUNDS

256,721

335,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and loss account has not been delivered.

The financial statements were approved by the director on 31 January 2019 and were signed by:

F W Flanagan - Director

1.	STATUTORY INFORMATION

Rainmaker Sales Solutions 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 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.

The results for the year show a net loss and the director has reviewed the financial position of the company and

the company's forecasts. He remains fully supportive of the company and is confident that the company will be

able to meet its liabilities as they become due. For this reason the financial statements have been prepared on

the going concern basis.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover represents the amount derived from ordinary activities, and stated after trade discounts, rebates and

net of value added tax.

Revenue for provision of services is recognised when the service has been provided to the customer.

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

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

PRESENTATION CURRENCY

The financial statements are presented in Pound Sterling, being the functional currency of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2017

317

20,531

20,848

Additions

474

441

915

At 30 April 2018

791

20,972

21,763

DEPRECIATION

At 1 May 2017

79

13,571

13,650

Charge for year

178

1,850

2,028

At 30 April 2018

257

15,421

15,678

NET BOOK VALUE

At 30 April 2018

534

5,551

6,085

At 30 April 2017

238

6,960

7,198

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

13,120

33,677

Other debtors

499,747

430,876

512,867

464,553

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade creditors

1,022

4,992

Taxation and social security

62,619

75,274

Other creditors

57,442

106,000

121,083

186,266

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.18

30.4.17

£

£

Other creditors

148,732

-

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2017 and

30 April 2018:

2018

2017

£

£

Balance outstanding at start of year

327,159

304,134

Amounts advanced

77,548

93,186

Amounts repaid

(27,157)

(70,161)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

377,550

327,159

Interest was charged on the loan at a rate of 2.5% per annum (2017 - 3%). The amount of interest charged in the

year was £8,700 (2017 - £9,329). The loan is repayable on demand.

9.	RELATED PARTY DISCLOSURES

The director has provided personal guarantees in respect of loans made to the company. As at the year end

these guarantees amounted to £135,442 (2017 - £106,000).