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REGISTERED NUMBER: 02759847 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2025

for

Rapid Loans Limited

Rapid Loans Limited (Registered number: 02759847)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rapid Loans Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: Alexandra White
Vicki White





SECRETARY: Vicki White





REGISTERED OFFICE: 615 Woodborough Road
Mapperley
Nottingham
NG3 5QG





REGISTERED NUMBER: 02759847 (England and Wales)






Rapid Loans Limited (Registered number: 02759847)

Balance Sheet
31 January 2025

31.1.25 31.1.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,455 1,662
Investment property 5 643,991 444,868
645,446 446,530

CURRENT ASSETS
Stocks 74,190 75,470
Debtors 6 853,978 1,198,060
Cash at bank and in hand 261,100 119,960
1,189,268 1,393,490
CREDITORS
Amounts falling due within one year 7 9,715 17,890
NET CURRENT ASSETS 1,179,553 1,375,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,824,999

1,822,130

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 1,823,999 1,821,130
SHAREHOLDERS' FUNDS 1,824,999 1,822,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 Loans Limited (Registered number: 02759847)

Balance Sheet - continued
31 January 2025


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 4 April 2025 and were signed on its behalf by:




Vicki White - Director



Alexandra White - Director


Rapid Loans Limited (Registered number: 02759847)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Rapid Loans 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.

Turnover
Turnover represents net invoice sale of goods and services excluding Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and Machinery etc - 10% per annum reducing balance.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Rapid Loans Limited (Registered number: 02759847)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2024
and 31 January 2025 2,078
DEPRECIATION
At 1 February 2024 416
Charge for year 207
At 31 January 2025 623
NET BOOK VALUE
At 31 January 2025 1,455
At 31 January 2024 1,662

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024 444,868
Additions 199,123
At 31 January 2025 643,991
NET BOOK VALUE
At 31 January 2025 643,991
At 31 January 2024 444,868

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade debtors 753,978 763,060
Amounts owed by participating interests 100,000 435,000
853,978 1,198,060

Rapid Loans Limited (Registered number: 02759847)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Taxation and social security 1,206 4,910
Other creditors 8,509 12,980
9,715 17,890

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.25 31.1.24
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. RESERVES
Retained
earnings
£   

At 1 February 2024 1,821,130
Profit for the year 18,869
Dividends (16,000 )
At 31 January 2025 1,823,999

10. ULTIMATE CONTROLLING PARTY

The controlling party is Alan White.