Rapid Life Sciences Ltd 04327046 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is publishing of consumer and business journals and periodicals. Digita Accounts Production Advanced 6.30.9574.0 true true 04327046 2024-01-01 2024-12-31 04327046 2024-12-31 04327046 bus:Director1 1 2024-12-31 04327046 core:CurrentFinancialInstruments 2024-12-31 04327046 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04327046 bus:SmallEntities 2024-01-01 2024-12-31 04327046 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04327046 bus:FilletedAccounts 2024-01-01 2024-12-31 04327046 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04327046 bus:RegisteredOffice 2024-01-01 2024-12-31 04327046 bus:Director1 2024-01-01 2024-12-31 04327046 bus:Director1 1 2024-01-01 2024-12-31 04327046 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04327046 countries:EnglandWales 2024-01-01 2024-12-31 04327046 bus:Director1 1 2023-12-31 04327046 2023-01-01 2023-12-31 04327046 2023-12-31 04327046 bus:Director1 1 2023-12-31 04327046 core:CurrentFinancialInstruments 2023-12-31 04327046 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04327046 bus:Director1 1 2023-01-01 2023-12-31 04327046 bus:Director1 1 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 04327046

Rapid Life Sciences Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Rapid Life Sciences Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Rapid Life Sciences Ltd

(Registration number: 04327046)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

114,319

141,375

Cash at bank and in hand

 

15,913

55,725

 

130,232

197,100

Creditors: Amounts falling due within one year

5

(72,894)

(179,523)

Net assets

 

57,338

17,577

Capital and reserves

 

Called up share capital

83

83

Share premium reserve

467

467

Retained earnings

56,788

17,027

Shareholders' funds

 

57,338

17,577

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 July 2025 and signed on its behalf by:
 

.........................................
Sir N D Burney
Director

 

Rapid Life Sciences Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Regus House
Heronsway
Chester Business Park
Chester
Cheshire
CH4 9QR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Rapid Life Sciences Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 2).

4

Debtors

Current

2024
£

2023
£

Trade debtors

42,574

42,967

Other debtors

71,745

98,408

 

114,319

141,375

Details of non-current trade and other debtors

£49,042 (2023 -£47,960) of Directors loan account is classified as non current.

 

Rapid Life Sciences Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

15,931

12,156

Taxation and social security

365

-

Other creditors

56,598

167,367

72,894

179,523

6

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

At 31 December 2024
£

Sir N D Burney

47,960

1,082

49,042

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

Sir N D Burney

46,933

1,027

47,960

Other transactions with directors

N Burney (director) had a loan account with the company. At the balance sheet date the amount due from N Burney was £49,042 (2023: £47,960).