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Registered number: 13433404
Rapitrade UK Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Montacs
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13433404
31 December 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,745 4,561
Tangible Assets 5 29,343 9,592
33,088 14,153
CURRENT ASSETS
Stocks 6 160,400 101,567
Debtors 7 145,466 117,612
Cash at bank and in hand 25,576 29,521
331,442 248,700
Creditors: Amounts Falling Due Within One Year 8 (240,329 ) (151,732 )
NET CURRENT ASSETS (LIABILITIES) 91,113 96,968
TOTAL ASSETS LESS CURRENT LIABILITIES 124,201 111,121
Creditors: Amounts Falling Due After More Than One Year 9 (31,834 ) (30,761 )
NET ASSETS 92,367 80,360
CAPITAL AND RESERVES
Called up share capital 11 38,000 8,000
Profit and Loss Account 54,367 72,360
SHAREHOLDERS' FUNDS 92,367 80,360
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Norman Shimwell
Director
15/08/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rapitrade UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13433404 . The registered office is C/O Montacs, International House, Kingsfield Court, Chester Business Park, Chester, Cheshire, CH4 9RF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website design. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Motor Vehicles 20% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 33.3% straight line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 3)
8 3
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 January 2024 5,001 1,580 6,581
As at 31 December 2024 5,001 1,580 6,581
Amortisation
As at 1 January 2024 1,125 895 2,020
Provided during the period 500 316 816
As at 31 December 2024 1,625 1,211 2,836
Net Book Value
As at 31 December 2024 3,376 369 3,745
As at 1 January 2024 3,876 685 4,561
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 4,897 - 7,794 4,192 16,883
Additions 9,654 13,500 2,619 372 26,145
As at 31 December 2024 14,551 13,500 10,413 4,564 43,028
Depreciation
As at 1 January 2024 2,171 - 2,613 2,507 7,291
Provided during the period 2,287 1,575 1,710 822 6,394
As at 31 December 2024 4,458 1,575 4,323 3,329 13,685
Net Book Value
As at 31 December 2024 10,093 11,925 6,090 1,235 29,343
As at 1 January 2024 2,726 - 5,181 1,685 9,592
6. Stocks
31 December 2024 31 December 2023
£ £
Stock 160,400 101,567
7. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Trade debtors 108,498 100,526
Prepayments and accrued income 31,051 12,393
Other debtors 5,224 4,000
Amounts owed by group undertakings 693 693
145,466 117,612
8. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,914 -
Trade creditors 171,341 102,196
Bank loans and overdrafts 33,360 4,132
Corporation tax - 10,917
Other taxes and social security 7,236 2,257
VAT 8,704 13,125
...CONTINUED
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Other creditors 5,887 14,440
Accruals and deferred income 4,862 4,583
Directors' loan accounts 25 82
240,329 151,732
9. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 31 December 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,238 -
Bank loans 2,001 6,261
Other creditors 18,595 24,500
31,834 30,761
10. Obligations Under Finance Leases and Hire Purchase
31 December 2024 31 December 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,914 -
Later than five years 11,238 -
20,152 -
20,152 -
11. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 38,000 8,000
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