Rapier Design Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02245988 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

RAPIER DESIGN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Brazier

Ms H R De Bois

C Litchfield

C Whittaker

SECRETARY:

Ms H R De Bois

REGISTERED OFFICE:

Rapier House

Crane Mead

Ware

Hertfordshire

SG12 9PW

REGISTERED NUMBER:

02245988 (England and Wales)

ACCOUNTANTS:

Tayler Bradshaw

Cambridge House

16 High Street

Saffron Walden

Essex

CB10 1AX

FIXED ASSETS

Intangible assets

4

724,299

823,977

Tangible assets

5

72,494

97,051

Investments

6

102

102

796,895

921,130

CURRENT ASSETS

Debtors

7

467,013

3,637,980

Cash at bank and in hand

1,966,604

1,800,053

2,433,617

5,438,033

CREDITORS

Amounts falling due within one year

8

1,470,773

4,931,778

NET CURRENT ASSETS

962,844

506,255

TOTAL ASSETS LESS CURRENT LIABILITIES

1,759,739

1,427,385

CREDITORS

Amounts falling due after more than one year

9

(690,692

)

(55,504

)

PROVISIONS FOR LIABILITIES

(13,774

)

(18,439

)

NET ASSETS

1,055,273

1,353,442

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

1,045,273

1,343,442

1,055,273

1,353,442

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 29 September 2021 and were signed on its behalf by:

Ms H R De Bois - Director

1.	STATUTORY INFORMATION

Rapier Design 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2019 - 47 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2020

and 31 December 2020

1,799,904

AMORTISATION

At 1 January 2020

975,927

Charge for year

99,678

At 31 December 2020

1,075,605

NET BOOK VALUE

At 31 December 2020

724,299

At 31 December 2019

823,977

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

207,711

Additions

19,562

At 31 December 2020

227,273

DEPRECIATION

At 1 January 2020

110,660

Charge for year

44,119

At 31 December 2020

154,779

NET BOOK VALUE

At 31 December 2020

72,494

At 31 December 2019

97,051

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2020

and 31 December 2020

102

NET BOOK VALUE

At 31 December 2020

102

At 31 December 2019

102

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/20

31/12/19

£

£

Trade debtors

274,884

2,574,761

Other debtors

192,129

1,063,219

467,013

3,637,980

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/20

31/12/19

£

£

Bank loans and overdrafts

93,750

-

Hire purchase contracts

45,922

44,403

Payments on account

209,582

2,686,585

Trade creditors

669,588

448,566

Amounts owed to group undertakings

113,663

922,965

Taxation and social security

60,711

216,723

Other creditors

277,557

612,536

1,470,773

4,931,778

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/20

31/12/19

£

£

Bank loans

656,250

-

Hire purchase contracts

34,442

55,504

690,692

55,504

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the parent company, Rapiergroup Limited, company number 10790822. A copy of the parent's accounts can be found at Companies House.