Rappel Limited
Company Registration No. 09746605 (England And Wales)
Unaudited Financial Statements
Year Ended 31 December 2023
RAPPEL LIMITED
Rappel Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
RAPPEL LIMITED
Rappel Limited
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
68,498
63,676
Current assets
Stocks
-
2,700
Debtors
5
240,618
18,948
Cash at bank and in hand
3,227
53,522
243,845
75,170
Creditors: amounts falling due within one year
6
(200,131)
(58,714)
Net current assets
43,714
16,456
Total assets less current liabilities
112,212
80,132
Creditors: amounts falling due after more than one year
7
(53,690)
(62,362)
Provisions for liabilities
8
(17,124)
(15,919)
Net assets
41,398
1,851
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
41,298
1,751
Total equity
41,398
1,851
RAPPEL LIMITED
Rappel Limited
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 29 October 2024 and are signed on its behalf by:
N Adamson
Director
Company Registration No. 09746605
RAPPEL LIMITED
Rappel Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Rappel Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 19, Pioneer Business Centre, North Road, Ellesmere Port, Cheshire, CH65 1AE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

RAPPEL LIMITED
Rappel Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
33.3% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

RAPPEL LIMITED
Rappel Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

RAPPEL LIMITED
Rappel Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
2
RAPPEL LIMITED
Rappel Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
29,069
3,425
12,044
87,733
132,271
Additions
18,214
-
0
380
29,999
48,593
Disposals
(2,173)
-
0
(3,703)
(32,144)
(38,020)
At 31 December 2023
45,110
3,425
8,721
85,588
142,844
Depreciation and impairment
At 1 January 2023
16,261
1,195
8,852
42,287
68,595
Depreciation charged in the year
7,624
334
2,769
14,341
25,068
Eliminated in respect of disposals
(1,650)
-
0
(3,604)
(14,063)
(19,317)
At 31 December 2023
22,235
1,529
8,017
42,565
74,346
Carrying amount
At 31 December 2023
22,875
1,896
704
43,023
68,498
At 31 December 2022
12,808
2,230
3,192
45,446
63,676
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
177,262
14,140
Other debtors
63,356
4,808
240,618
18,948
RAPPEL LIMITED
Rappel Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
12,571
11,944
Trade creditors
45,614
10,259
Corporation tax
39,381
15,010
Other taxation and social security
50,196
2,578
Other creditors
52,369
18,923
200,131
58,714

Of the creditors falling due within one year the amount totalling £5,042 is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
37,091
49,615
Other creditors
16,599
12,747
53,690
62,362

Included in other creditors within one year and due in more than one year is an amount which totals £20,749 (2022: £23,532) relating to assets held under hire purchase agreements.

Of the creditors falling due after one year the amount totalling £31,942 is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy.

RAPPEL LIMITED
Rappel Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
17,124
15,919
2023
Movements in the year:
£
Liability at 1 January 2023
15,919
Charge to profit or loss
1,205
Liability at 31 December 2023
17,124
9
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
-
1,250
4,976
6,226
1,250
4,976
6,226
2023-12-312023-01-01false29 October 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityN AdamsonS Lightfordfalsefalse097466052023-01-012023-12-31097466052023-12-31097466052022-12-3109746605core:PlantMachinery2023-12-3109746605core:FurnitureFittings2023-12-3109746605core:ComputerEquipment2023-12-3109746605core:MotorVehicles2023-12-3109746605core:PlantMachinery2022-12-3109746605core:FurnitureFittings2022-12-3109746605core:ComputerEquipment2022-12-3109746605core:MotorVehicles2022-12-3109746605core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3109746605core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3109746605core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3109746605core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3109746605core:CurrentFinancialInstruments2023-12-3109746605core:CurrentFinancialInstruments2022-12-3109746605core:Non-currentFinancialInstruments2023-12-3109746605core:Non-currentFinancialInstruments2022-12-3109746605core:ShareCapital2023-12-3109746605core:ShareCapital2022-12-3109746605core:RetainedEarningsAccumulatedLosses2023-12-3109746605core:RetainedEarningsAccumulatedLosses2022-12-3109746605bus:Director12023-01-012023-12-3109746605core:PlantMachinery2023-01-012023-12-3109746605core:FurnitureFittings2023-01-012023-12-3109746605core:ComputerEquipment2023-01-012023-12-3109746605core:MotorVehicles2023-01-012023-12-31097466052022-01-012022-12-3109746605core:PlantMachinery2022-12-3109746605core:FurnitureFittings2022-12-3109746605core:ComputerEquipment2022-12-3109746605core:MotorVehicles2022-12-31097466052022-12-3109746605core:WithinOneYear2023-12-3109746605core:WithinOneYear2022-12-3109746605bus:PrivateLimitedCompanyLtd2023-01-012023-12-3109746605bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109746605bus:FRS1022023-01-012023-12-3109746605bus:AuditExemptWithAccountantsReport2023-01-012023-12-3109746605bus:Director22023-01-012023-12-3109746605bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP