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RAPID ADDITION HOLDINGS LIMITED

Registered Number
09640186
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2024

RAPID ADDITION HOLDINGS LIMITED
Company Information
for the period from 1 April 2024 to 31 December 2024

Directors

GAY, Colin Andrew Francis
HOUSTOUN, Kevin Jon
MACKEOWN, William Patrick John
POWELL, Mike Edward

Registered Address

4th Floor, 95 Chancery Lane
London
WC2A 1DT

Registered Number

09640186 (England and Wales)
RAPID ADDITION HOLDINGS LIMITED
Balance Sheet as at
31 December 2024

Notes

31 Dec 2024

31 Mar 2024

£

£

£

£

Fixed assets
Intangible assets3153,822406,774
Investments41,284,8381,284,838
1,438,6601,691,612
Current assets
Debtors195,379-
195,379-
Creditors amounts falling due within one year-(53,672)
Net current assets (liabilities)195,379(53,672)
Total assets less current liabilities1,634,0391,637,940
Net assets1,634,0391,637,940
Capital and reserves
Called up share capital3,5063,506
Share premium326,663326,663
Other reserves1,278,2991,278,299
Profit and loss account25,57129,472
Shareholders' funds1,634,0391,637,940
The financial statements were approved and authorised for issue by the Board of Directors on 20 February 2025, and are signed on its behalf by:
GAY, Colin Andrew Francis
Director
Registered Company No. 09640186
RAPID ADDITION HOLDINGS LIMITED
Notes to the Financial Statements
for the period ended 31 December 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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Critical judgements The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. Valuation of intangibles Management assess whether there are any indicators of impairment on an annual basis. Where there are indicators of impairment, management estimate the recoverable amount of each asset based on expected future cash flows and using an appropriate discount rate to discount these. There were no indications of impairment. Assumptions are made on the useful life of an intangible asset and if shortened, would increase the amortisation charge recognised in the income statement. There are a number of assumptions in estimating the present value of future cash flows including management's expectation of future revenue, renewals rates for customers, costs, timing and quantum of future capital expenditure, long term growth rates and discount rates. Investments To assess impairment, the recoverable amount is assessed by reviewing the operating results and future plans. Judgement is used in the assessment of future prospects. Management did not identify any impairments in their review and continue to monitor progress. Deferred tax asset Deferred tax assets are recognised only to the extent that is is probable future taxable profits will be available against which the temporary differences can be utilised. Management have determined that it is not appropriate to recognise a deferred tax asset at this point.
Turnover policy
Turnover relates to licence fees charged to its subsidiary company for use of its intellectual property. Revenue is recognised over the period which it relates to and at the fair value of the consideration received or receivable, net of VAT.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
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.
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:
Investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242024
Average number of employees during the year00
3.Intangible assets

Total

£
Cost or valuation
At 01 April 242,529,520
At 31 December 242,529,520
Amortisation and impairment
At 01 April 242,122,746
Charge for year252,952
At 31 December 242,375,698
Net book value
At 31 December 24153,822
At 31 March 24406,774
4.Fixed asset investments
Fixed asset investments represent 100% ownership of the following entities: Rapid Addition Limited, Incorporated in England and Wales Rapid Addition NZ Limited, Incorporated in New Zealand Rapid Addition Prague S.R.O, Incorporated in the Czech Republic Rapid Addition SA Pty Limited, Incorporated in South Africa

Total

£
Cost or valuation
At 01 April 241,284,838
At 31 December 241,284,838
Net book value
At 31 December 241,284,838
At 31 March 241,284,838
5.Share capital
Share capital comprises: 125,516 Ordinary shares of 1p each with an aggregate nominal value of £1,256. 225,039 Ordinary A shares of 0.5p each with an aggregate nominal value of £1,125. 225,039 Ordinary B shares of 0.5p each with an aggregate nominal value of £1,125. Total issued share capital has an aggregate nominal value of £3,506 with remains unchanged from the prior reporting period. The Ordinary shares of 1p each have attached to them full voting, dividend and capital distribution (including on winding up) rights. They do not confer any rights of redemption. The Ordinary A shares have attached to them full voting and capital distribution (including on winding up) rights but not to distributions by way of dividends. They do not confer any rights of redemption. The Ordinary B shares have attached to them full dividend and capital distribution (including on winding up) rights. They do not confer any rights of redemption. The B shares shall not carry the right to receive notice of or to attend, speak or vote at general meetings of the company.