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REGISTERED NUMBER: 08815630 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RAPID SHIPPING LTD

RAPID SHIPPING LTD (REGISTERED NUMBER: 08815630)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAPID SHIPPING LTD

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2023







DIRECTOR: Mr M D Winter





REGISTERED OFFICE: 260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL





REGISTERED NUMBER: 08815630 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

RAPID SHIPPING LTD (REGISTERED NUMBER: 08815630)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 883 3,777
883 3,777

CURRENT ASSETS
Debtors 7 17,683 74,433
Cash at bank and in hand 138,457 104,742
156,140 179,175
CREDITORS
Amounts falling due within one year 8 71,077 85,650
NET CURRENT ASSETS 85,063 93,525
TOTAL ASSETS LESS CURRENT
LIABILITIES

85,946

97,302

CREDITORS
Amounts falling due after more than one
year

9

10,767

18,367
NET ASSETS 75,179 78,935

CAPITAL AND RESERVES
Called up share capital 11 120 120
Retained earnings 75,059 78,815
SHAREHOLDERS' FUNDS 75,179 78,935

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 SHIPPING LTD (REGISTERED NUMBER: 08815630)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 October 2024 and were signed by:





Mr M D Winter - Director


RAPID SHIPPING LTD (REGISTERED NUMBER: 08815630)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Rapid Shipping 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the period, exclusive of Value Added Tax.

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.

Website costs are being amortised evenly over their estimated useful life of 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Warehouse equipment - 15% to 33.3 % on reducing balance
Fixtures and fittings - 15% to 33.3 % on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% to 33.3 % on reducing balance

Pension costs and other post-retirement benefits
The company makes payments directly to the personal pension plan of the director and these are charged to the profit and loss account when paid.

4. EMPLOYEES AND DIRECTORS

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

RAPID SHIPPING LTD (REGISTERED NUMBER: 08815630)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 4,500
AMORTISATION
At 1 January 2023
and 31 December 2023 4,500
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures
Warehouse and Motor Computer
equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 6,541 204 11,750 5,267 23,762
DEPRECIATION
At 1 January 2023 4,436 203 10,574 4,772 19,985
Charge for year 2,105 - 294 495 2,894
At 31 December 2023 6,541 203 10,868 5,267 22,879
NET BOOK VALUE
At 31 December 2023 - 1 882 - 883
At 31 December 2022 2,105 1 1,176 495 3,777

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,740 57,401
Other debtors 10,943 17,032
17,683 74,433

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,170 7,600
Trade creditors 48,966 53,748
Taxation and social security 8,711 12,407
Other creditors 3,230 11,895
71,077 85,650

RAPID SHIPPING LTD (REGISTERED NUMBER: 08815630)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 10,767 18,367

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 18,367 25,967

Bank loans are secured by way by of a guarantee given by the director.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100
20 Ordinary B £1 20 20
120 120