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REGISTERED NUMBER: 07822641 (England and Wales)















Financial Statements for the Year Ended 30 October 2023

for

Rapid (NW) Limited

Rapid (NW) Limited (Registered number: 07822641)






Contents of the Financial Statements
for the Year Ended 30 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rapid (NW) Limited

Company Information
for the Year Ended 30 October 2023







DIRECTOR: D W Taylor





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 07822641 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Rapid (NW) Limited (Registered number: 07822641)

Balance Sheet
30 October 2023

30.10.23 30.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,670 1,670
Tangible assets 5 220,555 187,221
222,225 188,891

CURRENT ASSETS
Debtors 6 1,167,609 1,432,609
Cash at bank 104,910 147,761
1,272,519 1,580,370
CREDITORS
Amounts falling due within one year 7 1,484,465 1,448,802
NET CURRENT (LIABILITIES)/ASSETS (211,946 ) 131,568
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,279

320,459

CREDITORS
Amounts falling due after more than
one year

8

(56,703

)

(103,232

)

PROVISIONS FOR LIABILITIES (2,982 ) -
NET (LIABILITIES)/ASSETS (49,406 ) 217,227

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (49,407 ) 217,226
SHAREHOLDERS' FUNDS (49,406 ) 217,227

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 (NW) Limited (Registered number: 07822641)

Balance Sheet - continued
30 October 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 December 2023 and were signed by:





D W Taylor - Director


Rapid (NW) Limited (Registered number: 07822641)

Notes to the Financial Statements
for the Year Ended 30 October 2023

1. STATUTORY INFORMATION

Rapid (NW) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the recruitment service fees received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when the services are complete.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments
Directors loans and other loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.


Rapid (NW) Limited (Registered number: 07822641)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2023

2. ACCOUNTING POLICIES - continued
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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 31 October 2022
and 30 October 2023 1,670
NET BOOK VALUE
At 30 October 2023 1,670
At 30 October 2022 1,670

Rapid (NW) Limited (Registered number: 07822641)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 31 October 2022 153,065 60,668 213,733
Additions 38,000 2,236 40,236
Disposals - (4,000 ) (4,000 )
At 30 October 2023 191,065 58,904 249,969
DEPRECIATION
At 31 October 2022 - 26,512 26,512
Charge for year - 5,261 5,261
Eliminated on disposal - (2,359 ) (2,359 )
At 30 October 2023 - 29,414 29,414
NET BOOK VALUE
At 30 October 2023 191,065 29,490 220,555
At 30 October 2022 153,065 34,156 187,221

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.10.23 30.10.22
£    £   
Trade debtors 784,692 1,124,505
Other debtors 382,917 308,104
1,167,609 1,432,609

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.10.23 30.10.22
£    £   
Bank loans and overdrafts 7,200 11,173
Trade creditors 47,252 110,282
Taxation and social security 369,358 257,244
Other creditors 1,060,655 1,070,103
1,484,465 1,448,802

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.10.23 30.10.22
£    £   
Bank loans 12,083 15,633
Other creditors 44,620 87,599
56,703 103,232