Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01falseActivities of other holding companies22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09488639 2023-01-01 2023-12-31 09488639 2022-01-01 2022-12-31 09488639 2023-12-31 09488639 2022-12-31 09488639 c:Director1 2023-01-01 2023-12-31 09488639 d:CurrentFinancialInstruments 2023-12-31 09488639 d:CurrentFinancialInstruments 2022-12-31 09488639 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09488639 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09488639 d:ShareCapital 2023-12-31 09488639 d:ShareCapital 2022-12-31 09488639 d:RetainedEarningsAccumulatedLosses 2023-12-31 09488639 d:RetainedEarningsAccumulatedLosses 2022-12-31 09488639 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09488639 c:OrdinaryShareClass1 2023-12-31 09488639 c:OrdinaryShareClass1 2022-12-31 09488639 c:FRS102 2023-01-01 2023-12-31 09488639 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09488639 c:FullAccounts 2023-01-01 2023-12-31 09488639 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09488639 d:Subsidiary1 2023-01-01 2023-12-31 09488639 d:Subsidiary1 1 2023-01-01 2023-12-31 09488639 d:Subsidiary2 2023-01-01 2023-12-31 09488639 d:Subsidiary2 1 2023-01-01 2023-12-31 09488639 d:Subsidiary3 2023-01-01 2023-12-31 09488639 d:Subsidiary3 1 2023-01-01 2023-12-31 09488639 d:Subsidiary4 2023-01-01 2023-12-31 09488639 d:Subsidiary4 1 2023-01-01 2023-12-31 09488639 2 2023-01-01 2023-12-31 09488639 6 2023-01-01 2023-12-31 09488639 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09488639









RAPPIDLY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
RAPPIDLY LIMITED
REGISTERED NUMBER: 09488639

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
4
-

Current assets
  

Debtors: amounts falling due within one year
 5 
970,934
150,155

Cash at bank and in hand
 6 
557,670
247,177

  
1,528,604
397,332

Creditors: amounts falling due within one year
 7 
(1,366,437)
(397,831)

Net current assets/(liabilities)
  
 
 
162,167
 
 
(499)

  

Net assets/(liabilities)
  
162,171
(499)


Capital and reserves
  

Called up share capital 
 8 
4
2

Profit and loss account
  
162,167
(501)

  
162,171
(499)


The directors consider 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 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 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 on 18 September 2024.




B M Rapp
Director

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
RAPPIDLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Rappidly Limited ("the Company") is a private company, limited by shares, incorporated in England and Wales. The registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, England, E11 1GA.

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

Going concern

The financial statement have been prepared in going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
RAPPIDLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

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.

Page 3

 
RAPPIDLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
4



At 31 December 2023
4





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Securys Limited
161-165 Farringdon Road, London, England, EC1R 3AL
Ordinary
100%
Rappidly Properties Limited
Leytonstone House, 3 Hanbury Drive, Leytonstone, London, England, E11 1GA
Ordinary
100%
Privacy Made Practical Limited*
28 Fitzwilliam Street Upper, Dublin 2
Ordinary
100%
Securys, Inc*
Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware 19801, United States
Ordinary
100%

* These indirect subsidiaries are 100% controlled by Securys Limited. 

Page 4

 
RAPPIDLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,000
-

Other debtors
842,963
112,910

Prepayments and accrued income
126,971
37,245

970,934
150,155



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
557,670
247,177



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
27,840
-

Amounts owed to group undertakings
1,336,597
-

Other creditors
-
395,831

Accruals and deferred income
2,000
2,000

1,366,437
397,831



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4 (2022 - 2) Ordinary shares of £1.00 each
4
2

All shares rank pari-passu.




Page 5

 
RAPPIDLY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Related party transactions

Included within other debtors due within one year is an amount of £767,814 (2022 - £92,908 ) due from a director of the Company. Interest was charged using the HMRC official rate of interest. 
Included within other debtors due within one year is an amount of £54,275 (2022 - £
Nil) due from a company controlled by the shareholders of the Company.
During the year the Company made sales of £Nil (
2022 - £1,000) to a company in which the shareholders hold an interest. 
The company has taken advantage of the exemption contained in FRS 102 and has therefore not disclosed transactions or balances with entities which are wholly owned subsidiaries of the Group.
All transactions occurred at an arm's length basis.


10.


Controlling party

The company considers B M Rapp and D D Rapp to be its ultimate controlling party.
Under provisions within the Companies Act 2006, the group is exempt from preparing consolidated financial statements.

 
Page 6