1 February 2023 v2024.54.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP067852742023-02-012024-01-31067852742024-01-31067852742023-01-3106785274core:WithinOneYear2024-01-3106785274core:WithinOneYear2023-01-3106785274core:AfterOneYear2024-01-3106785274core:AfterOneYear2023-01-3106785274core:ShareCapital2024-01-3106785274core:ShareCapital2023-01-3106785274core:RetainedEarningsAccumulatedLosses2024-01-3106785274core:RetainedEarningsAccumulatedLosses2023-01-3106785274bus:Director12023-02-012024-01-3106785274bus:RegisteredOffice2023-02-012024-01-3106785274core:FurnitureFittingsToolsEquipment2023-02-012024-01-31067852742022-02-012023-01-3106785274core:PlantMachinery2024-01-3106785274core:PlantMachinery2023-02-0106785274core:PlantMachinery2023-02-012024-01-3106785274core:PlantMachinery2023-01-310678527412023-02-012024-01-3106785274countries:EnglandWales2023-02-012024-01-3106785274bus:AuditExempt-NoAccountantsReport2023-02-012024-01-3106785274bus:PrivateLimitedCompanyLtd2023-02-012024-01-3106785274bus:SmallEntities2023-02-012024-01-3106785274bus:FullAccounts2023-02-012024-01-31
Company registration number:
06785274
Rapid Response Reporting Limited
Unaudited Filleted Financial Statements for the year ended
31 January 2024
Rapid Response Reporting Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Rapid Response Reporting Limited
Year ended
31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Rapid Response Reporting Limited
for the year ended
31 January 2024
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Rapid Response Reporting Limited
, as a body, in accordance with the terms of my engagement letter dated 14 April 2023. My work has been undertaken solely to prepare for your approval the
financial statements
of
Rapid Response Reporting Limited
and state those matters that I have agreed to state to the Board of Directors of
Rapid Response Reporting Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Rapid Response Reporting Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Rapid Response Reporting Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Rapid Response Reporting Limited
. You consider that
Rapid Response Reporting Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Rapid Response Reporting Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Real Time Accountants
Anson House
1 Cae'r Llynen
Llandudno Junction
Conwy
LL31 9LS
United Kingdom
Rapid Response Reporting Limited
Statement of Financial Position
31 January 2024
20242023
Note££
Fixed assets    
Tangible assets 5
143
 
191
 
Current assets    
Stocks
156,780
 
205,760
 
Debtors 6
744,958
 
676,029
 
Cash at bank and in hand
83,157
 
114,315
 
984,895
 
996,104
 
Creditors: amounts falling due within one year 7
(773,468
)
(824,548
)
Net current assets
211,427
 
171,556
 
Total assets less current liabilities 211,570   171,747  
Creditors: amounts falling due after more than one year 8
(63,165
)
(31,204
)
Net assets
148,405
 
140,543
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
148,305
 
140,443
 
Shareholders funds
148,405
 
140,543
 
For the year ending
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:
  • 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;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These
financial statements
were approved by the board of directors and authorised for issue on
18 October 2024
, and are signed on behalf of the board by:
S Bullman
Director
Company registration number:
06785274
Rapid Response Reporting Limited
Notes to the Financial Statements
Year ended
31 January 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Anson House
,
1 Cae'R Llynen
,
Llandudno Junction
,
Conwy
,
LL31 9LS
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
4
(2023:
4.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 February 2023
and
31 January 2024
11,509
 
Depreciation  
At
1 February 2023
11,318
 
Charge
48
 
At
31 January 2024
11,366
 
Carrying amount  
At
31 January 2024
143
 
At 31 January 2023
191
 

6 Debtors

20242023
££
Trade debtors
305,076
 
224,356
 
Other debtors
439,882
 
451,673
 
744,958
 
676,029
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
20,000
 
10,000
 
Trade creditors
457,230
 
507,722
 
Taxation and social security
294,078
 
304,666
 
Other creditors
2,160
 
2,160
 
773,468
 
824,548
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
63,165
 
31,204
 

9 Directors' advances, credit and guarantees

Included within other debtors are the following directors loan accounts:
- Stefan Bullman £186,750 (2023: £170,697). During the year, the amount advanced was £61,365 and the amount repaid was £36,720.
- Sophie Bullman £155,645 (2023: £129,025) During the year, the amount advanced was £61,900 and the amount repaid was £35,280.
The loans are unsecured, interest free and repayable on demand.