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REGISTERED NUMBER: 10915411 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

RAPIDCOM (2017) LIMITED

RAPIDCOM (2017) LIMITED (REGISTERED NUMBER: 10915411)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RAPIDCOM (2017) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Rahim Virani
Karim Virani





SECRETARY: Zaeem Ud-Din





REGISTERED OFFICE: Crown House
North Circular Road
London
NW10 7PN





REGISTERED NUMBER: 10915411 (England and Wales)





AUDITORS: UHY Hacker Young (S.E.) Limited
Chartered Accountants & Statutory Auditor
168 Church Road
Hove
East Sussex
BN3 2DL

RAPIDCOM (2017) LIMITED (REGISTERED NUMBER: 10915411)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 66,211 58,967
Cash at bank 52,230 55,503
118,441 114,470
CREDITORS
Amounts falling due within one year 6 59,668 58,415
NET CURRENT ASSETS 58,773 56,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,773

56,055

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 58,673 55,955
SHAREHOLDERS' FUNDS 58,773 56,055

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 25 September 2024 and were signed on its behalf by:





Karim Virani - Director


RAPIDCOM (2017) LIMITED (REGISTERED NUMBER: 10915411)

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

1. STATUTORY INFORMATION

Rapidcom (2017) Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is Crown House, North Circular Road, Park Royal, London NW10 7PN.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with applicable accounting standards.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going Concern
In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

For this purpose, the directors have considered the adequacy of the group's cash resources covering the period 12 months ahead of the approval of these financial statements.

The directors have reasonable expectations that the group has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing these financial statements.

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

Income recognition
Income is recognised as services are provided to customers.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

RAPIDCOM (2017) LIMITED (REGISTERED NUMBER: 10915411)

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

4. EMPLOYEES AND DIRECTORS

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 61,049 52,750
Other debtors 5,162 6,217
66,211 58,967

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 848 1,118
Amounts owed to group undertakings 44,999 44,999
Tax 922 -
VAT 1,139 1,115
Other creditors 10,395 9,883
Accruals and deferred income 1,365 1,300
59,668 58,415

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 June 2023 55,955
Profit for the year 17,718
Dividends (15,000 )
At 31 May 2024 58,673

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Guest FCA (Senior Statutory Auditor)
for and on behalf of UHY Hacker Young (S.E.) Limited

RAPIDCOM (2017) LIMITED (REGISTERED NUMBER: 10915411)

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

10. ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of Asian Online plc, a company registered in England and Wales. The directors consider the ultimate controlling party to be S Virani.

The registered office of the parent company is Crown House, North Circular Road, London NW10 7PN.