Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-312025-05-21falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.lease of equipment02023-11-01false0truetrue 13683088 2023-11-01 2024-10-31 13683088 2022-11-01 2023-10-31 13683088 2024-10-31 13683088 2023-10-31 13683088 c:Director1 2023-11-01 2024-10-31 13683088 d:PlantMachinery 2023-11-01 2024-10-31 13683088 d:PlantMachinery 2024-10-31 13683088 d:PlantMachinery 2023-10-31 13683088 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 13683088 d:MotorVehicles 2023-11-01 2024-10-31 13683088 d:MotorVehicles 2024-10-31 13683088 d:MotorVehicles 2023-10-31 13683088 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 13683088 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 13683088 d:CurrentFinancialInstruments 2024-10-31 13683088 d:CurrentFinancialInstruments 2023-10-31 13683088 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 13683088 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 13683088 d:ShareCapital 2024-10-31 13683088 d:ShareCapital 2023-10-31 13683088 d:RetainedEarningsAccumulatedLosses 2024-10-31 13683088 d:RetainedEarningsAccumulatedLosses 2023-10-31 13683088 c:FRS102 2023-11-01 2024-10-31 13683088 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 13683088 c:FullAccounts 2023-11-01 2024-10-31 13683088 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 13683088 2 2023-11-01 2024-10-31 13683088 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 13683088









RAPID ROAD LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
RAPID ROAD LTD
REGISTERED NUMBER: 13683088

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
637,575
558,154

  
637,575
558,154

Current assets
  

Debtors: amounts falling due within one year
 5 
42,176
53,497

Cash at bank and in hand
 6 
311,316
179,891

  
353,492
233,388

Creditors: amounts falling due within one year
 7 
(260,472)
(496,598)

Net current assets/(liabilities)
  
 
 
93,020
 
 
(263,210)

Total assets less current liabilities
  
730,595
294,944

  

Net assets
  
730,595
294,944


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
730,594
294,943

  
730,595
294,944


Page 1

 
RAPID ROAD LTD
REGISTERED NUMBER: 13683088
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 May 2025.




................................................
Robert Jenkins
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
RAPID ROAD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Rapid Road Ltd is a private company, incorporated in England and Wales, limited by its share capital.  The principal activity of the Company throughout the year was the leasing of equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
RAPID ROAD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
RAPID ROAD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

3.


Employees

The Company has no employees other than the Directors, who did not receive any remuneration (2023 - £Nil).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 November 2023
708,193
30,000
738,193


Additions
218,893
86,050
304,943


Disposals
-
(67,050)
(67,050)



At 31 October 2024

927,086
49,000
976,086



Depreciation


At 1 November 2023
172,539
7,500
180,039


Charge for the year on owned assets
150,909
11,313
162,222


Disposals
-
(3,750)
(3,750)



At 31 October 2024

323,448
15,063
338,511



Net book value



At 31 October 2024
603,638
33,937
637,575



At 31 October 2023
535,654
22,500
558,154


5.


Debtors

2024
2023
£
£


Trade debtors
42,176
53,497

42,176
53,497


Page 5

 
RAPID ROAD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
311,316
179,891

311,316
179,891



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
16,116
156,960

Corporation tax
28,457
-

Other taxation and social security
30,528
24,618

Other creditors
109,686
313,540

Accruals and deferred income
75,685
1,480

260,472
496,598



8.


Related party transactions

During the year the Company made purchases of £61,747 (2023 - £14,619) and sales of £51,929 (2023 - £77,427) with Buchannan Events Ltd, a company of which the Director, Robert Jenkins is also a director.


9.


Controlling party

The Company is controlled by the Director, Robert Jenkins, by virtue of his shareholding as described in the Director's report.

 
Page 6