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Registration number: 14255329

Rapid Response Property Ltd

Annual Report and Unaudited Financial Statements

for the Period from 25 July 2022 to 31 July 2023

 

Rapid Response Property Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Rapid Response Property Ltd

Company Information

Director

Mr Andre Tembo Mayunga

Company secretary

Mr Andre Tembo Mayunga

Registered office

31 31
Redgrove Close
Bexhill-On-Sea
East Sussex
TN39 5FD

Accountants

K & N Accounting Ltd
60 Windsor Avenue
London
South West London
SW19 2RR

 

Rapid Response Property Ltd

(Registration number: 14255329)
Balance Sheet as at 31 July 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

103,000

Current assets

 

Debtors

5

1,100

Total assets less current liabilities

 

104,100

Creditors: Amounts falling due after more than one year

6

(108,791)

Net liabilities

 

(4,691)

Capital and reserves

 

Called up share capital

7

1

Retained earnings

(4,692)

Shareholders' deficit

 

(4,691)

For the financial period ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 12 March 2024
 

.........................................
Mr Andre Tembo Mayunga
Company secretary and director

 

Rapid Response Property Ltd

Notes to the Unaudited Financial Statements for the Period from 25 July 2022 to 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
31 31
Redgrove Close
Bexhill-On-Sea
East Sussex
TN39 5FD
England

These financial statements were authorised for issue by the director on 12 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Rapid Response Property Ltd

Notes to the Unaudited Financial Statements for the Period from 25 July 2022 to 31 July 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Rapid Response Property Ltd

Notes to the Unaudited Financial Statements for the Period from 25 July 2022 to 31 July 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

Additions

103,000

103,000

At 31 July 2023

103,000

103,000

Depreciation

Carrying amount

At 31 July 2023

103,000

103,000

Included within the net book value of land and buildings above is £103,000 in respect of freehold land and buildings.
 

 

Rapid Response Property Ltd

Notes to the Unaudited Financial Statements for the Period from 25 July 2022 to 31 July 2023

5

Debtors

6

Creditors

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

8

108,791

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £0.01 each

100

1

     

8

Loans and borrowings

2023
£

Non-current loans and borrowings

Other borrowings

108,791