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Financial Statements for the Year Ended 31 January 2017 |
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Rapid Personnel Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 January 2017 |
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for |
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Rapid Personnel Limited |
Rapid Personnel Limited (Registered number: 04356501) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Rapid Personnel Limited |
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Company Information |
for the Year Ended 31 January 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Devonshire House |
582 Honeypot Lane |
Stanmore |
Middlesex |
HA7 1JS |
Rapid Personnel Limited (Registered number: 04356501) |
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Statement of Financial Position |
31 January 2017 |
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31.1.17 | 31.1.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 10 |
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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. |
Rapid Personnel Limited (Registered number: 04356501) |
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Statement of Financial Position - continued |
31 January 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Rapid Personnel Limited (Registered number: 04356501) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2017 |
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1. | STATUTORY INFORMATION |
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Rapid Personnel Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or |
substantively enacted by the statement of financial position date. |
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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. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Rapid Personnel Limited (Registered number: 04356501) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 February 2016 |
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Additions |
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At 31 January 2017 |
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DEPRECIATION |
At 1 February 2016 |
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Charge for year |
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At 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 February 2016 |
and 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.17 | 31.1.16 |
£ | £ |
Trade debtors |
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Bad Debt Provision |
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Amounts owed by group undertakings |
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Loan to Associate |
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Prepayments and accrued income |
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Prepayments |
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Rapid Personnel Limited (Registered number: 04356501) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.17 | 31.1.16 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT |
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Other creditors |
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Pension Creditor |
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Net Wages Due |
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Directors' current accounts |
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Accrued expenses |
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Accrued Holiday Pay |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.1.17 | 31.1.16 |
£ | £ |
Bank loans - 2-5 years |
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Other creditors |
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9. | PROVISIONS FOR LIABILITIES |
31.1.17 | 31.1.16 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Deferred |
tax |
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Balance at 1 February 2016 |
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Accelerated Capital Allowances | 1,846 |
Balance at 31 January 2017 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 February 2016 |
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Profit for the year |
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At 31 January 2017 |
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Rapid Personnel Limited (Registered number: 04356501) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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During the year ended 31 January 2017, Rapid Personnel Ltd owed £53,428 to its Directors. This amount is |
reflected in the director`s loan accounts in credit balances, which is shown in Other creditor under creditors due |
within one year. Please be advised that the director has agreed to provide this loan on an interest free basis and |
the loan is repayable on demand. |
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12. | RELATED PARTY DISCLOSURES |
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Rapid Personnel Ltd provided a short-term loan of £300,578 to Info-Site Ltd on an interest free basis and is |
repayable on demand. This loan is included within Amounts owed by group undertakings under Debtors. Please |
be advised that Info-Site Ltd is the subsidiary company and is wholly owned by Rapid Personnel Ltd. |
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Intercompany Loan: |
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During the year ended 31 January 2017, Rapid Personnel Ltd provided a short-term loan amount to the |
associated company, RPR Recruitment Ltd of £28,474. The loan was provided on an interest free basis and is |
repayable on demand. This amount is shown in the other debtors account under Debtors. |
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Mr Simon Shah & Mr Adam Stratton are the directors and shareholders of both RPR Recruitment Ltd and Rapid |
Personnel Ltd. |
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Management Fees Charge to RPR Recruitment Ltd:. |
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During the year ended 31 January 2017, Rapid Personnel Ltd provided management services to RPR |
Recruitment Ltd. Rapid Personnel Ltd charged RPR Recruitment Ltd £100,271 for providing these management |
services. These services were provided on commercial terms and were charged at fair value, being an arm's |
length transactions. |
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Services Received from RPR Recruitment Ltd: |
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During the year ended 31 January 2017, Rapid Personnel Ltd purchased services of £350,986 from RPR |
Recruitment Ltd. These purchases were made on commercial terms, bought at fair value, being arm`s length |
transactions. |
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