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Abbreviated Unaudited Accounts for the Year Ended 28 February 2016 |
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Rightrain Ltd |
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Abbreviated Unaudited Accounts for the Year Ended 28 February 2016 |
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for |
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Rightrain Ltd |
Rightrain Ltd (Registered number: 07145279) |
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Contents of the Abbreviated Accounts |
for the Year Ended 28 February 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Rightrain Ltd |
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Company Information |
for the Year Ended 28 February 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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Rightrain Ltd (Registered number: 07145279) |
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Abbreviated Balance Sheet |
28 February 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
Rightrain Ltd (Registered number: 07145279) |
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Abbreviated Balance Sheet - continued |
28 February 2016 |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Rightrain Ltd (Registered number: 07145279) |
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Notes to the Abbreviated Accounts |
for the Year Ended 28 February 2016 |
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1. | ACCOUNTING POLICIES |
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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). |
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Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the |
year, exclusive of Value Added Tax and trade discounts. |
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Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with |
reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work |
carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is |
calculated as that proportion of total contract value which costs incurred to date bear to total expected costs |
for that contract. Revenues derived from variations on contracts are recognised only when they have been |
accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first |
foreseen. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange |
ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating |
result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
Rightrain Ltd (Registered number: 07145279) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 28 February 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 March 2015 |
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Additions |
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At 28 February 2016 |
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DEPRECIATION |
At 1 March 2015 |
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Charge for year |
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At 28 February 2016 |
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NET BOOK VALUE |
At 28 February 2016 |
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At 28 February 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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