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REGISTERED NUMBER: 04215880 (England and Wales)












RAPID DESPATCH LOGISTICS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






RAPID DESPATCH LOGISTICS LTD (REGISTERED NUMBER: 04215880)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAPID DESPATCH LOGISTICS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: R Beale
J Lynn



REGISTERED OFFICE: Unit 2
424 Portswood Road
Southampton
Hampshire
SO17 3SD



REGISTERED NUMBER: 04215880 (England and Wales)



BANKERS: HSBC Bank plc
35 Middle Road
Park Gate
Southampton
Hampshire
SO31 7GH

RAPID DESPATCH LOGISTICS LTD (REGISTERED NUMBER: 04215880)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 9,136 7,172

CURRENT ASSETS
Debtors 5 308,454 325,671
Cash at bank and in hand 180,113 140,845
488,567 466,516
CREDITORS
Amounts falling due within one year 6 (192,570 ) (189,091 )
NET CURRENT ASSETS 295,997 277,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

305,133

284,597

CREDITORS
Amounts falling due after more than one
year

7

(14,807

)

(24,946

)
NET ASSETS 290,326 259,651

CAPITAL AND RESERVES
Called up share capital 66 71
Capital redemption reserve 36 29
Retained earnings 290,224 259,551
SHAREHOLDERS' FUNDS 290,326 259,651

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

RAPID DESPATCH LOGISTICS LTD (REGISTERED NUMBER: 04215880)

BALANCE SHEET - continued
31 MAY 2024


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 November 2024 and were signed on its behalf by:





R Beale - Director


RAPID DESPATCH LOGISTICS LTD (REGISTERED NUMBER: 04215880)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Rapid Despatch Logistics 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standards 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 FRS102 have been applied other than where additional disclosure is required to show a true and far 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 £1.

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

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised when the customers goods are delivered.

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.
Fixtures and fittings - 20% Reducing balance
Motor vehicles - 20% Reducing balance
Computer equipment - Straight line over 3 years

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 recognised in the income statement.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

RAPID DESPATCH LOGISTICS LTD (REGISTERED NUMBER: 04215880)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Financial assets
Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 June 2023 28,367 - 26,728 55,095
Additions 224 3,917 1,362 5,503
At 31 May 2024 28,591 3,917 28,090 60,598
DEPRECIATION
At 1 June 2023 25,827 - 22,096 47,923
Charge for year 530 588 2,421 3,539
At 31 May 2024 26,357 588 24,517 51,462
NET BOOK VALUE
At 31 May 2024 2,234 3,329 3,573 9,136
At 31 May 2023 2,540 - 4,632 7,172

RAPID DESPATCH LOGISTICS LTD (REGISTERED NUMBER: 04215880)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 254,604 254,688
Other debtors 53,850 70,983
308,454 325,671

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 10,140 9,890
Trade creditors 36,741 49,225
Taxation and social security 139,854 125,700
Other creditors 5,835 4,276
192,570 189,091

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 14,807 24,946

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 52,670 51,296
Between one and five years 62,983 48,962
115,653 100,258

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, advances totalling £232 (2023: £1,130) were made to the company's directors. £1,324 (2023: £208) was repaid prior to the year end. The balance owed from the company to the directors at the year end was £422 (2023: amounts owed to the company £670).

No interest is payable and the advances are repayable on demand.