REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
RAPIDCOM (2017) LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
VAT | 1,139 | 1,115 |
Other creditors |
Accruals and deferred income |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 June 2023 |
Profit for the year |
Dividends | ( |
) |
At 31 May 2024 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |