Company registration number 05845131 (England and Wales)
RAPID RESPONSE MAINTENANCE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
7 Kings Court
Newcomen Way
Colchester
Essex
CO4 9RA
RAPID RESPONSE MAINTENANCE LTD
CONTENTS
Page
Company information
1
Accountants' report
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
RAPID RESPONSE MAINTENANCE LTD
COMPANY INFORMATION
- 1 -
Directors
Mr Paul Le Brett
Mr Michael Osborne
Secretary
Mr Michael Osborne
Company number
05845131
Registered office
7 Kings Court
Newcomen Way
Colchester
Essex
CO4 9RA
Accountants
TC Group
7 Kings Court
Newcomen Way
Colchester
Essex
CO4 9RA
RAPID RESPONSE MAINTENANCE LTD
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
221,961
289,304
Current assets
Stocks
25,000
25,000
Debtors
4
552,586
512,600
Cash at bank and in hand
737,868
538,502
1,315,454
1,076,102
Creditors: amounts falling due within one year
5
(664,507)
(571,136)
Net current assets
650,947
504,966
Total assets less current liabilities
872,908
794,270
Creditors: amounts falling due after more than one year
6
(86,773)
(167,881)
Provisions for liabilities
(55,491)
(63,289)
Net assets
730,644
563,100
Capital and reserves
Called up share capital
7
402
402
Profit and loss reserves
730,242
562,698
Total equity
730,644
563,100
RAPID RESPONSE MAINTENANCE LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 7 November 2023 and are signed on its behalf by:
Mr Paul Le Brett
Mr Michael Osborne
Director
Director
Company Registration No. 05845131
The notes on pages 4 to 9 form part of these financial statements
RAPID RESPONSE MAINTENANCE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
1
Accounting policies
Company information

Rapid Response Maintenance Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7 Kings Court, Newcomen Way, Colchester, Essex, CO4 9RA. The principal place of business is Unit 16 Hall Road, Church Road, Little Bentley, Essex, CO7 8SD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade and settlement discounts.

 

Revenue is recognised when the goods have been delivered and services completed.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office Equipment
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

RAPID RESPONSE MAINTENANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

RAPID RESPONSE MAINTENANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 6 -
1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
61
56
RAPID RESPONSE MAINTENANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
3
Tangible fixed assets
Office Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 July 2022
80,364
653,883
734,247
Additions
6,644
-
0
6,644
At 30 June 2023
87,008
653,883
740,891
Depreciation and impairment
At 1 July 2022
60,033
384,910
444,943
Depreciation charged in the year
6,744
67,243
73,987
At 30 June 2023
66,777
452,153
518,930
Carrying amount
At 30 June 2023
20,231
201,730
221,961
At 30 June 2022
20,331
268,973
289,304
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
551,728
316,079
Other debtors
858
196,521
552,586
512,600
RAPID RESPONSE MAINTENANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 8 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
25,000
25,000
Trade creditors
203,218
159,541
Taxation and social security
325,117
246,780
Other creditors
111,172
139,815
664,507
571,136

Other creditors include hire purchase liabilities of £56,103 (2022: £68,925) which are secured against the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,833
45,833
Other creditors
65,940
122,048
86,773
167,881

Other creditors include hire purchase liabilities of £65,940 (2022: £122,048) which are secured against the assets to which they relate.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
400
400
400
400
A Ordinary of £1 each
2
2
2
2
402
402
402
402
RAPID RESPONSE MAINTENANCE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 9 -
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
121,417
152,417
9
Related party transactions

At the balance sheet date, the directors were owed £29,290 (2022: £46,993) by the company.

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