Company registration number 13587627 (England and Wales)
RAPID RECRUIT HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
Ridehalgh Limited
Chartered Accountants
Guardian House
42 Preston New Road
Blackburn
Lancashire
BB2 6AH
RAPID RECRUIT HOLDINGS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
RAPID RECRUIT HOLDINGS LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
385,000
385,000
Current assets
Debtors
100
100
Cash at bank and in hand
34,409
24,938
34,509
25,038
Creditors: amounts falling due within one year
(273,479)
(203,290)
Net current liabilities
(238,970)
(178,252)
Total assets less current liabilities
146,030
206,748
Creditors: amounts falling due after more than one year
(145,930)
(206,648)
Net assets
100
100
RAPID RECRUIT HOLDINGS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
2024
2023
Notes
£
£
£
£
- 2 -
Capital and reserves
Called up share capital
100
100

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

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 30 January 2025
Miss P Loughlin
Director
Company registration number 13587627 (England and Wales)
RAPID RECRUIT HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Rapid Recruit Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Guardian House, 42 Preston New Road, Blackburn, Lancashire, BB2 6AH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities 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.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are recognised at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are recognised at amortised cost

RAPID RECRUIT HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
385,000
385,000
4
Subsidiaries

Details of the company's subsidiaries at 31 October 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Rapid Recruit Limited
UK
Recruitment Agency
Ordinary
100.00
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