Rapidshore Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 04813741

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		4,505,000		4,400,000
Investments	5		-		5,000

			4,505,000		4,405,000
CURRENT ASSETS
Debtors	6	3,947		13,328
Cash at bank and in hand		6,487		2,814

		10,434		16,142
Creditors: Amounts Falling Due Within One Year	7	(2,570,543 )		(2,696,501 )

NET CURRENT ASSETS (LIABILITIES)			(2,560,109 )		(2,680,359 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,944,891		1,724,641

PROVISIONS FOR LIABILITIES
Deferred Taxation			(2,590 )		-

NET ASSETS			1,942,301		1,724,641

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			1,942,201		1,724,541

SHAREHOLDERS' FUNDS			1,942,301		1,724,641

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Rapidshore Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 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 John Webb

Director

05/11/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Rapidshore Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04813741 . The registered office is Roselawn Hotel, Burghfield, Reading, RG30 3RU.

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. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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.

2.4. 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:

Fixtures & Fittings

33% straight line

2.5. Investment Properties

Investment properties are carried at fair value determined annually by the Directors and derived from publicly available indices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.6. 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.

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Rapidshore Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Investment Property

	2025
	£
Fair Value
As at 1 April 2024	4,400,000
Revaluations	105,000

As at 31 March 2025	4,505,000

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

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	3,896,969	3,896,969

5. Investments

	Other
	£
Cost
As at 1 April 2024	5,000
Disposals	(5,000 )

As at 31 March 2025	-

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	5,000

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	(169 )	-
Prepayments and accrued income	3,174	2,546
Other debtors	942	712
Deferred tax current asset	-	10,070

	3,947	13,328

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Rapidshore Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	94	417
Other creditors	2,528,119	2,656,128
Taxation and social security	42,330	39,956

	2,570,543	2,696,501

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

9. Related Party Transactions

Company under common control

At the year end the Company owed £1,999,365 (2024: £2,120,840) to a company under common control. During the year a further advance was received of £25,224 (2024: £216,776), repayments were made amounting to £146,699 (2024: £100,453l) in the year. This is an interest free loan payable on demand.

Directors loan account

At the year end the Company owed £515,201 (2024: £525,581) to M N Webb, a director. During the year, £18,620 (2024: £nil) was advanced to the Company by M N Webb and the amount repaid in the year by the Company to M N Webb was £29,000 (2024: £184,582). This is an interest free loan payable on demand.

10. Controlling Party

The company's controlling party is J M Webb by virtue of his ownership of majority of the issued share capital in the company.

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