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Registered Number: 13112212


 

 

 

RAPIDO SEPEDA LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,551    7,861 
1,551    7,861 
Current assets      
Stocks 4 23,175    120,030 
Debtors 5 299,677    70,057 
Cash at bank and in hand 4,440    284,170 
327,292    474,257 
Creditors: amount falling due within one year 6 (38,281)   (149,185)
Net current assets 289,011    325,072 
 
Total assets less current liabilities 290,562    332,933 
Accruals and deferred income (27,380)   (108,907)
Net assets 263,182    224,026 
 

Capital and reserves
     
Called up share capital 7 2    2 
Profit and loss account 263,180    224,024 
Shareholders' funds 263,182    224,026 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 October 2024 and were signed on its behalf by:


-------------------------------
Iqram DAMIEL
Director
1
General Information
Rapido Sepeda Ltd is a private company, limited by shares, registered in , registration number 13112212, registration address 139 Thorold Road, Ilford, Essex, IG1 4EZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 2 years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 6).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 February 2023 15,721    15,721 
Additions 3,097    3,097 
Disposals  
At 31 January 2024 18,818    18,818 
Depreciation
At 01 February 2023 7,860    7,860 
Charge for year 9,407    9,407 
On disposals  
At 31 January 2024 17,267    17,267 
Net book values
Closing balance as at 31 January 2024 1,551    1,551 
Opening balance as at 01 February 2023 7,861    7,861 


4.

Stocks

2024
£
  2023
£
Stocks 23,175    120,030 
23,175    120,030 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 27,380    55,532 
Other Debtors 272,281    2,281 
VAT 16    12,244 
299,677    70,057 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   29,694 
Bank Loans & Overdrafts 117    48,466 
Corporation Tax 11,972    24,842 
PAYE & Social Security 449    449 
Directors' Current Accounts 25,743    45,734 
38,281    149,185 

7.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

2