ACCOUNTS - Final Accounts preparation

Registered number: 12212758

RAPPIDLY PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

RAPPIDLY PROPERTIES LIMITED

REGISTERED NUMBER: 12212758

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investment property			415,619		-
Current assets
Debtors: amounts falling due within one year	4	-		1,002
Creditors: amounts falling due within one year	5	(404,367)		(1,000)
Net current (liabilities)/assets		(404,367)		2

Net assets			11,252		2

Capital and reserves
Called up share capital	2	2
Profit and loss account	11,250	-
	11,252	2

The directors consider 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 directors acknowledge their 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 8 September 2025.

B M Rapp

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

RAPPIDLY PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Rappidly Properties Limited ("the Company") is a private company, limited by shares, incorporated in England and Wales. The registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, England, E11 1GA.

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

Going concern

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

2.3

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:

2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.5

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.

2.6

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.

2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS102 to all of its financial instruments.

Page 2

RAPPIDLY PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

3.	Investment property

		Freehold investment property
		£
	Valuation
	Additions at cost	415,619
	At 31 December 2024	415,619

The 2024 valuations were made by the directors, on an open market value for existing use basis.

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	-	2
Other debtors	-	1,000
	-	1,002

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

	Amounts owed to group undertakings	404,367	1,000

6.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1 (2023 - 1) Ordinary A share of £1.00	1	1
1 (2023 - 1) Ordinary B share of £1.00	1	1

	2	2

Page 3

RAPPIDLY PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Related party transactions
	The company has taken advantage of the exemption contained in FRS 102 and has therefore no tdisclosed transactions or balances with entities which are wholly owned subsidiaries of the Group.

8.	Controlling party

The ultimate parent undertaking is Rappidly Limited.
The company considers B M Rapp and D D Rapp to be its ultimate controlling party.

Page 4