Company Registration No. 13189325 (England and Wales)
Rapid Company Holdings Limited
Unaudited accounts
for the period from 1 March 2022 to 31 December 2022
Rapid Company Holdings Limited
Unaudited accounts
Contents
Rapid Company Holdings Limited
Company Information
for the period from 1 March 2022 to 31 December 2022
Directors
Simon Shah
Adam Stratton
Company Number
13189325 (England and Wales)
Registered Office
Alma Street
Reading
Berkshire
RG30 1JS
UNITED KINGDOM
Rapid Company Holdings Limited
Statement of financial position
as at 31 December 2022
Investments
1,650,000
1,650,000
Cash at bank and in hand
90,011
-
Net current assets
530,735
4
Total assets less current liabilities
2,180,735
1,650,004
Creditors: amounts falling due after more than one year
(530,884)
-
Net assets
1,649,851
1,650,004
Called up share capital
100
100
Share premium
1,649,904
1,649,904
Profit and loss account
(153)
-
Shareholders' funds
1,649,851
1,650,004
For the period ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2023 and were signed on its behalf by
Simon Shah
Director
Company Registration No. 13189325
Rapid Company Holdings Limited
Notes to the Accounts
for the period from 1 March 2022 to 31 December 2022
Rapid Company Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 13189325. The registered office is Alma Street, Reading, Berkshire, RG30 1JS, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
In the opinion of the director, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments in shares are included at fair value.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the directors [have made the following judgements:
Determine whether there are indicators of impairment of the company's investments. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Rapid Company Holdings Limited
Notes to the Accounts
for the period from 1 March 2022 to 31 December 2022
4
Investments
Subsidiary undertakings
Valuation at 1 March 2022
1,650,000
Valuation at 31 December 2022
1,650,000
The company holds 100% of the ordinary share capital of Rapid Personnel Limited. RPL provides temporary employment agency services, is registered in England and Wales and its registered office is Alma Street, Reading, Berkshire, United Kingdom, RG30 1JS.
5
Debtors
31/12/2022
28/02/2022
Amounts falling due within one year
Amounts due from group undertakings etc.
440,724
-
6
Creditors: amounts falling due after more than one year
31/12/2022
28/02/2022
Loans from directors
530,884
-
7
Share capital
31/12/2022
28/02/2022
Allotted, called up and fully paid:
50 Class A Ordinary shares of £1 each
50
50
50 Class B Ordinary shares of £1 each
50
50
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
2
224,610
637,500
(412,888)
Directors Loan
2
169,502
637,500
(467,996)
4
394,112
1,275,000
(880,884)
9
Transactions with related parties
The company has taken advantage of the exemption available in Section 33.1A of FRS 102 not to disclose transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
10
Average number of employees
During the period the average number of employees was 2 (28/02/2022: 2).