2023-10-012024-09-302024-09-30false13460386RAPIDEYEMOVERS 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RAPIDEYEMOVERS LTD.

Registered Number
13460386
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

RAPIDEYEMOVERS LTD.
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

J S Tittel

Company Secretary

G J Warren

Registered Address

91 Evering Road
London
N16 7SJ

Registered Number

13460386 (England and Wales)
RAPIDEYEMOVERS LTD.
Statement of Financial Position
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets4684,617720,379
Tangible assets53,1791,967
687,796722,346
Current assets
Stocks646,737-
Debtors7138,83768,042
Cash at bank and on hand86,77652,441
272,350120,483
Creditors amounts falling due within one year8(167,989)(61,594)
Net current assets (liabilities)104,36158,889
Total assets less current liabilities792,157781,235
Creditors amounts falling due after one year9(82,031)-
Provisions for liabilities10(171,942)(180,579)
Net assets538,184600,656
Capital and reserves
Called up share capital11
Profit and loss account538,183600,655
Shareholders' funds538,184600,656
The financial statements were approved and authorised for issue by the Director on 11 February 2025, and are signed on its behalf by:
J S Tittel
Director
Registered Company No. 13460386
RAPIDEYEMOVERS LTD.
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation
Intangible assets are amortised in line with the duration of any third party licenses.
Development costs
Capitalised development costs are stated at cost less accumulated amortisation and accumulated impairment losses (cost model). Amortisation is recognised using the straight-line basis and results in the carrying amount being expensed in profit or loss over the estimated useful life.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery3
Office Equipment3
Stocks and work in progress
Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When the final intangible asset is completed it will be recognised as a capital expense, if a project is discontinued then the cost will be written off to the profit and loss. This takes place in the same period that the associated revenue is recognised.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20242023
Average number of employees during the year21
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Intangible assets

Other

Total

££
Cost or valuation
At 01 October 23912,480912,480
Additions270,041270,041
At 30 September 241,182,5211,182,521
Amortisation and impairment
At 01 October 23192,101192,101
Charge for year305,802305,802
Other movements11
At 30 September 24497,904497,904
Net book value
At 30 September 24684,617684,617
At 30 September 23720,379720,379
5.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 October 237931,9432,736
Additions4372,2362,673
At 30 September 241,2304,1795,409
Depreciation and impairment
At 01 October 23-769769
Charge for year3771,0841,461
At 30 September 243771,8532,230
Net book value
At 30 September 248532,3263,179
At 30 September 237931,1741,967
6.Stocks

2024

2023

££
Work in progress46,737-
Total46,737-
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8,080-
Other debtors113,40644,469
Prepayments and accrued income17,35123,573
Total138,83768,042
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables77,36024,814
Bank borrowings and overdrafts50,005333
Taxation and social security36,06632,188
Other creditors5959
Accrued liabilities and deferred income4,4994,200
Total167,98961,594
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts82,031-
Total82,031-
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)171,942180,579
Total171,942180,579
11.Share capital
Share Capital Allotted, called up and fully paid: 100,000 Ordinary shares of £0.00001 each 2023: 1 2024: 1