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REGISTERED NUMBER: 04865509 (England and Wales)















Rapid Rail International Limited

Unaudited Financial Statements for the Year Ended 31 January 2024






Rapid Rail International Limited (Registered number: 04865509)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rapid Rail International Limited

Company Information
for the Year Ended 31 January 2024







Directors: Ms C M Warren
Mr B R Warren
Mr A C Warren
Mr K D Mathieson





Registered office: 7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ





Registered number: 04865509 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Rapid Rail International Limited (Registered number: 04865509)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 89,735 148,621

Current assets
Stocks 205,189 192,996
Debtors 5 205,287 340,527
Cash at bank and in hand 2,133,004 1,030,962
2,543,480 1,564,485
Creditors
Amounts falling due within one year 6 (209,045 ) (210,080 )
Net current assets 2,334,435 1,354,405
Total assets less current liabilities 2,424,170 1,503,026

Provisions for liabilities (22,434 ) (36,914 )
Net assets 2,401,736 1,466,112

Capital and reserves
Called up share capital 7 700 700
Capital redemption reserve 300 300
Retained earnings 2,400,736 1,465,112
Shareholders' funds 2,401,736 1,466,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 4 October 2024 and were signed on its behalf by:





Mr B R Warren - Director


Rapid Rail International Limited (Registered number: 04865509)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. Statutory information

Rapid Rail International 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.

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.

Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the design and manufacture of height safety equipment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 4 (2023 - 5 ) .

Rapid Rail International Limited (Registered number: 04865509)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 February 2023 64,541 58,617 204,406 327,564
Additions 8,090 1,253 - 9,343
Disposals - - (49,590 ) (49,590 )
At 31 January 2024 72,631 59,870 154,816 287,317
Depreciation
At 1 February 2023 61,876 51,141 65,926 178,943
Charge for year 2,243 4,553 36,121 42,917
Eliminated on disposal - - (24,278 ) (24,278 )
At 31 January 2024 64,119 55,694 77,769 197,582
Net book value
At 31 January 2024 8,512 4,176 77,047 89,735
At 31 January 2023 2,665 7,476 138,480 148,621

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 112,255 253,390
VAT 15,257 36,194
Prepayments 77,775 50,943
205,287 340,527

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Tax 89,294 129,249
Social security and other taxes 17,063 14,712
Directors' current accounts 104 1,071
Accrued expenses 102,584 65,048
209,045 210,080

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
700 Ordinary £1 700 700

Rapid Rail International Limited (Registered number: 04865509)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr B R Warren
Balance outstanding at start of year (1,071 ) (967 )
Amounts advanced 1,071 -
Amounts repaid (104 ) (104 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (104 ) (1,071 )

There is no set repayment date and no interest is charged in respect of the outstanding balance.

9. Ultimate controlling party

The controlling party is Mr B R Warren.