Abbreviated Company Accounts - RAPIDSOURCE TELECOM LIMITED

RAPIDSOURCE TELECOM LIMITED - Company Information

05949605 RAPIDSOURCE TELECOM LIMITED 2015-02-28 false 2014-03-01 2015-02-28 true 05949605 2014-03-01 2015-02-28 05949605 2015-02-28 05949605 2014-02-28 05949605 uk-gaap-cd-bus:Director1 2014-03-01 2015-02-28 05949605 uk-gaap-cd-bus:Director2 2014-03-01 2015-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-01 2015-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2015-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2014-02-28 iso4217:GBP shares

Registered Number 05949605

RAPIDSOURCE TELECOM LIMITED

Abbreviated Accounts

28 February 2015

RAPIDSOURCE TELECOM LIMITED Registered Number 05949605

Abbreviated Balance Sheet as at 28 February 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	30,335	21,826
		30,335	21,826
Current assets
Stocks		92,014	93,448
Debtors		785,596	675,439
Cash at bank and in hand		963,061	657,042
		1,840,671	1,425,929
Creditors: amounts falling due within one year		(233,708)	(299,130)
Net current assets (liabilities)		1,606,963	1,126,799
Total assets less current liabilities		1,637,298	1,148,625
Provisions for liabilities		(3,064)	-
Total net assets (liabilities)		1,634,234	1,148,625
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		1,634,134	1,148,525
Shareholders' funds		1,634,234	1,148,625

For the year ending 28 February 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 22 May 2015

And signed on their behalf by:
Mr P Watkins, Director

RAPIDSOURCE TELECOM LIMITED Registered Number 05949605

Notes to the Abbreviated Accounts for the period ended 28 February 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate
Motor vehicles Reducing balance 25%
Equipment Reducing balance 33%

2Tangible fixed assets

	£
Cost
At 1 March 2014	27,718
Additions	22,911
Disposals	(11,000)
Revaluations	-
Transfers	-
At 28 February 2015	39,629
Depreciation
At 1 March 2014	5,892
Charge for the year	7,084
On disposals	(3,682)
At 28 February 2015	9,294
Net book values
At 28 February 2015	30,335
At 28 February 2014	21,826

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100