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REGISTERED NUMBER: 01524516 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RAPID COMPUTERS LIMITED

RAPID COMPUTERS LIMITED (REGISTERED NUMBER: 01524516)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RAPID COMPUTERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M D Stevens
D C Stevens





SECRETARY: M D Stevens





REGISTERED OFFICE: Unit 10 Dakota Business Park
Skyhawk Avenue
Speke
Liverpool
L19 2QR





REGISTERED NUMBER: 01524516 (England and Wales)





ACCOUNTANTS: Additions
Chartered Accountants
One Derby Square
Liverpool
L2 9QR

RAPID COMPUTERS LIMITED (REGISTERED NUMBER: 01524516)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,758 95,677

CURRENT ASSETS
Stocks 199,002 392,376
Debtors 5 910,107 940,000
Cash at bank and in hand 342,787 71,212
1,451,896 1,403,588
CREDITORS
Amounts falling due within one year 6 988,980 1,008,798
NET CURRENT ASSETS 462,916 394,790
TOTAL ASSETS LESS CURRENT
LIABILITIES

534,674

490,467

CREDITORS
Amounts falling due after more than one
year

7

58,289

86,003
NET ASSETS 476,385 404,464

CAPITAL AND RESERVES
Called up share capital 10 255,000 255,000
Retained earnings 221,385 149,464
SHAREHOLDERS' FUNDS 476,385 404,464

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 21 August 2025 and were signed on its behalf by:





M D Stevens - Director


RAPID COMPUTERS LIMITED (REGISTERED NUMBER: 01524516)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Rapid Computers 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Hire purchase
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account on a straight line basis over the relevant period. The capital element of the future payments is treated as a liability.

RAPID COMPUTERS LIMITED (REGISTERED NUMBER: 01524516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Invoice discounting
The company has adopted the separate presentation method of accounting, whereby gross discounted debts are included in the balance sheet as an asset and the advances from the discounter are included in creditors as a liability.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Borrowings
Interest bearing loans are recorded at the proceeds received, net of direct issue costs. Finance charges, including premiums payable on settlement or redemption and direct issue costs, are accounted for on an accruals basis in the profit and loss account using the effective interest method and are added to the carrying amount of the instrument to the extent that they are not settled in the period in which they arise.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2024
and 31 December 2024 4,329 234,703 100,760 339,792
DEPRECIATION
At 1 January 2024 4,329 213,848 25,938 244,115
Charge for year - 5,214 18,705 23,919
At 31 December 2024 4,329 219,062 44,643 268,034
NET BOOK VALUE
At 31 December 2024 - 15,641 56,117 71,758
At 31 December 2023 - 20,855 74,822 95,677

The net book value of motor vehicles includes £45,988 (2023 - £6,888) in respect of assets held under hire purchase contracts. The amount of depreciation in respect of such assets amounted to £16,190 for the year (2023 - £4,005).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 166,686 227,624
Other debtors 743,421 712,376
910,107 940,000

RAPID COMPUTERS LIMITED (REGISTERED NUMBER: 01524516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 61,708 79,986
Hire purchase contracts (see note 8) 16,782 2,129
Trade creditors 102,565 232,861
Taxation and social security 58,194 38,160
Other creditors 749,731 655,662
988,980 1,008,798

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 22,559 86,003
Hire purchase contracts (see note 8) 35,730 -
58,289 86,003

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 16,782 2,129
Between one and five years 35,730 -
52,512 2,129

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 84,267 165,989
Hire purchase contracts 52,512 2,129
136,779 168,118

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
255,000 Ordinary £1 255,000 255,000

RAPID COMPUTERS LIMITED (REGISTERED NUMBER: 01524516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
M D Stevens
Balance outstanding at start of year 198,451 136,607
Amounts advanced 51,645 61,844
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 250,096 198,451

D C Stevens
Balance outstanding at start of year 114,058 99,614
Amounts advanced 7,131 14,444
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 121,189 114,058

The above loans are repayable on demand.

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. ULTIMATE CONTROLLING PARTY

The directors M D Stevens and D C Stevens control the company by virtue of their controlling interest in Rapidnet Limited, the ultimate parent company.