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Company registration number: 03848546







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


RAPID COMMERCIAL CLEANING SERVICES LIMITED






































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RAPID COMMERCIAL CLEANING SERVICES LIMITED
 


 
COMPANY INFORMATION


Directors
Mr P A Claxton 
Mr J M Whitton 




Company secretary
Mr P A Claxton



Registered number
03848546



Registered office
1a Oaklands Business Centre
Oaklands Park

Wokingham

Berkshire

RG41 2FD




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP




Bankers
National Westminster Bank Plc
50 High Street

Egham

Surrey

TW20 9EU





 


RAPID COMMERCIAL CLEANING SERVICES LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6


 


RAPID COMMERCIAL CLEANING SERVICES LIMITED
REGISTERED NUMBER:03848546



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
875,272
808,349

  
875,272
808,349

Current assets
  

Stocks
  
2,861
6,037

Debtors: amounts falling due within one year
 5 
872,312
817,010

Cash at bank and in hand
  
2,620,655
2,122,607

  
3,495,828
2,945,654

Creditors: amounts falling due within one year
 6 
(1,672,495)
(1,367,017)

Net current assets
  
 
 
1,823,333
 
 
1,578,637

Total assets less current liabilities
  
2,698,605
2,386,986

Provisions for liabilities
  

Deferred tax
  
(18,919)
(32,413)

  
 
 
(18,919)
 
 
(32,413)

Net assets
  
2,679,686
2,354,573


Capital and reserves
  

Called up share capital 
  
1,002
1,002

Profit and loss account
  
2,678,684
2,353,571

  
2,679,686
2,354,573


Page 1

 


RAPID COMMERCIAL CLEANING SERVICES LIMITED
REGISTERED NUMBER:03848546


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr J M Whitton
Director
Date: 30 July 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


RAPID COMMERCIAL CLEANING SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Rapid Commercial Cleaning Services Limited is a private company limited by shares and is incorporated in England and Wales. The registered address is also the principal place of business and is included on the company information page.
The Company's functional and presentational currency is GBP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of cleaning services supplied during the year, exclusive of Value Added Tax and trade discounts. Contracts that are terminated during the contractual period are accounted for over the original contract term and recognised upon settlement. 

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


RAPID COMMERCIAL CLEANING SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2.5-10 years Straight line
Plant and machinery
-
3 years Straight line
Motor vehicles
-
3-4 years Straight line
Office equipment
-
3 years Straight line
Computer equipment
-
3 years Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 


RAPID COMMERCIAL CLEANING SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 403 (2023 - 363).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost 


At 1 April 2023
678,073
76,292
334,622
95,213
1,184,200


Additions
3,497
28,640
130,003
21,355
183,495


Disposals
-
(5,388)
(61,709)
-
(67,097)



At 31 March 2024

681,570
99,544
402,916
116,568
1,300,598



Depreciation


At 1 April 2023
66,485
60,924
162,989
85,453
375,851


Charge for the year on owned assets
18,391
11,285
74,291
9,761
113,728


Disposals
-
(2,544)
(61,709)
-
(64,253)



At 31 March 2024

84,876
69,665
175,571
95,214
425,326



Net book value



At 31 March 2024
596,694
29,879
227,345
21,354
875,272



At 31 March 2023
611,588
15,368
171,633
9,760
808,349

Page 5

 


RAPID COMMERCIAL CLEANING SERVICES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
774,439
758,644

Other debtors
10,242
2,340

Prepayments and accrued income
87,631
56,026

872,312
817,010



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
75,705
68,871

Corporation tax
282,695
124,400

Other taxation and social security
663,291
571,710

Other creditors
351,125
53,353

Accruals and deferred income
299,679
548,683

1,672,495
1,367,017


 
Page 6