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REGISTERED NUMBER: 11278769 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 DECEMBER 2023

FOR

RAPID GLOBAL LOGISTICS LTD

RAPID GLOBAL LOGISTICS LTD (REGISTERED NUMBER: 11278769)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RAPID GLOBAL LOGISTICS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 DECEMBER 2023







DIRECTORS: R Hasan
R V M Hendriks
M A Rodermond





REGISTERED OFFICE: Unit J, Dean Way
Great Western Industrial Park
Southall
UB2 4SB





REGISTERED NUMBER: 11278769 (England and Wales)





AUDITORS: RJP LLP
Chartered Certified Accountants &
Statutory Auditors
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

RAPID GLOBAL LOGISTICS LTD (REGISTERED NUMBER: 11278769)

BALANCE SHEET
29 DECEMBER 2023

29.12.23 29.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 119,997 95,962

CURRENT ASSETS
Debtors 5 1,685,183 1,400,498
Cash at bank 410,582 350,097
2,095,765 1,750,595
CREDITORS
Amounts falling due within one year 6 656,477 666,607
NET CURRENT ASSETS 1,439,288 1,083,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,559,285

1,179,950

CREDITORS
Amounts falling due after more than one
year

7

-

(1,625

)

PROVISIONS FOR LIABILITIES (27,168 ) (23,991 )
NET ASSETS 1,532,117 1,154,334

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings 1,532,107 1,154,324
SHAREHOLDERS' FUNDS 1,532,117 1,154,334

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 Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





M A Rodermond - Director


RAPID GLOBAL LOGISTICS LTD (REGISTERED NUMBER: 11278769)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 DECEMBER 2023


1. STATUTORY INFORMATION

Rapid Global Logistics Ltd 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.

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.

Turnover
Turnover represents the supply of logistics and warehousing services, excluding Value Added Tax.

Services are recognised as turnover in the period they are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost

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 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

RAPID GLOBAL LOGISTICS LTD (REGISTERED NUMBER: 11278769)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 December 2022 137,406
Additions 87,684
Disposals (52,110 )
At 29 December 2023 172,980
DEPRECIATION
At 30 December 2022 41,444
Charge for year 30,646
Eliminated on disposal (19,107 )
At 29 December 2023 52,983
NET BOOK VALUE
At 29 December 2023 119,997
At 29 December 2022 95,962

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 30 December 2022
and 29 December 2023 12,185
DEPRECIATION
At 30 December 2022 3,859
Charge for year 2,437
At 29 December 2023 6,296
NET BOOK VALUE
At 29 December 2023 5,889
At 29 December 2022 8,326

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.12.23 29.12.22
£    £   
Trade debtors 342,828 340,082
Amounts owed by group undertakings 582,959 466,406
Other debtors 759,396 594,010
1,685,183 1,400,498

RAPID GLOBAL LOGISTICS LTD (REGISTERED NUMBER: 11278769)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.12.23 29.12.22
£    £   
Hire purchase contracts (see note 8) 1,625 4,874
Trade creditors 181,172 224,241
Amounts owed to group undertakings - 5,228
Taxation and social security 103,946 71,175
Other creditors 369,734 361,089
656,477 666,607

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.12.23 29.12.22
£    £   
Hire purchase contracts (see note 8) - 1,625

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29.12.23 29.12.22
£    £   
Net obligations repayable:
Within one year 1,625 4,874
Between one and five years - 1,625
1,625 6,499

Non-cancellable operating leases
29.12.23 29.12.22
£    £   
Within one year 789,952 442,670
Between one and five years 1,132,140 996,006
1,922,092 1,438,676

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.12.23 29.12.22
value: £    £   
10 Ordinary £1.00 10 10

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Simon Paterson (Senior Statutory Auditor)
for and on behalf of RJP LLP

11. PARENT COMPANY

The parent company is Rapid Logistics B.V. which is registered in the Netherlands. Copies of the company's group financial statements may be obtained from Rapid Logistics B.V., Incheonweg 7, 1437 EK Rozenburg, Netherlands.