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REGISTERED NUMBER: 05348670 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Rapid Associates (Commercial) Limited

Rapid Associates (Commercial) Limited (Registered number: 05348670)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rapid Associates (Commercial) Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mrs S P Smith
Mr O G Smith
Mr J A Smith





SECRETARY: Mrs S P Smith





REGISTERED OFFICE: Trade Fair House
2 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD





REGISTERED NUMBER: 05348670 (England and Wales)





ACCOUNTANTS: Accsys Accountants Limited
Chartered Accountants
Trade Fair House
2 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD

Rapid Associates (Commercial) Limited (Registered number: 05348670)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,228 18,972
Investments 5 29,000 29,000
Investment property 6 2,333,658 2,333,658
2,449,886 2,381,630

CURRENT ASSETS
Stocks - 32,916
Debtors 7 3,120 183,897
Cash at bank 437,173 317,820
440,293 534,633
CREDITORS
Amounts falling due within one year 8 860,040 989,093
NET CURRENT LIABILITIES (419,747 ) (454,460 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,030,139

1,927,170

CREDITORS
Amounts falling due after more than one year 9 389,988 365,706
NET ASSETS 1,640,151 1,561,464

CAPITAL AND RESERVES
Called up share capital 2 2
Other reserves 82,015 82,015
Retained earnings 1,558,134 1,479,447
1,640,151 1,561,464

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Associates (Commercial) Limited (Registered number: 05348670)

Balance Sheet - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:




Mr J A Smith - Director



Mr O G Smith - Director


Rapid Associates (Commercial) Limited (Registered number: 05348670)

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

1. STATUTORY INFORMATION

Rapid Associates (Commercial) 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 - 4 ) .

Rapid Associates (Commercial) Limited (Registered number: 05348670)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 13,302 3,157 12,350 2,286 31,095
Additions 949 78,426 - 4,207 83,582
Disposals (827 ) - - (2,286 ) (3,113 )
At 31 October 2024 13,424 81,583 12,350 4,207 111,564
DEPRECIATION
At 1 November 2023 5,251 798 5,404 670 12,123
Charge for year 1,696 9,441 1,736 826 13,699
Eliminated on disposal (614 ) - - (872 ) (1,486 )
At 31 October 2024 6,333 10,239 7,140 624 24,336
NET BOOK VALUE
At 31 October 2024 7,091 71,344 5,210 3,583 87,228
At 31 October 2023 8,051 2,359 6,946 1,616 18,972

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2023
and 31 October 2024 29,000
NET BOOK VALUE
At 31 October 2024 29,000
At 31 October 2023 29,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 2,333,658
NET BOOK VALUE
At 31 October 2024 2,333,658
At 31 October 2023 2,333,658

Rapid Associates (Commercial) Limited (Registered number: 05348670)

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

6. INVESTMENT PROPERTY - continued

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2015 (765,427 )
Valuation in 2017 (5,625 )
Valuation in 2021 95,457
Cost 3,009,253
2,333,658

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors - 350
Other debtors 3,120 183,547
3,120 183,897

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 40,008 140,263
Trade creditors 2,339 34,335
Taxation and social security 44,912 61,656
Other creditors 772,781 752,839
860,040 989,093

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans 389,988 365,706