RAPID_GROUP_HOLDINGS_LIMI - Accounts

RAPID GROUP HOLDINGS LIMITED - Company Information

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Company Registration No. 01483039 (England and Wales)

RAPID GROUP HOLDINGS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

RAPID GROUP HOLDINGS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

RAPID GROUP HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Investments

Current assets

Debtors

1,307,773

3,967,909

Cash at bank and in hand

2,762

1,307,773

3,970,671

Creditors: amounts falling due within one year

(44,467)

(4,280,447)

Net current assets/(liabilities)

1,263,306

(309,776)

Total assets less current liabilities

1,263,307

(309,775)

Capital and reserves

Called up share capital

178

Share premium account

4,402,422

Other reserves

Profit and loss account

(3,139,368)

(4,712,450)

Shareholders' funds

1,263,307

(309,775)

For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on .........................

..............................

M H Doherty

Director

Company Registration No. 01483039

RAPID GROUP HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Going Concern

The directors have prepared financial projections and considered the ability of the company and its subsidiary Rapid Property Investments Limited to meet its obligations as they fall due over the period extending twelve months from the date on which these financial statement are approved. The projections indicate that based on rental income in Rapid Property Investments Limited, sufficient funds will be generated to enable the group to continue as a going concern.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Investments

Investments in subsidiaries are stated at cost less provision for diminution in value.

Fixed assets

Investments

Cost

At 1 July 2015 & at 30 June 2016

At 30 June 2015

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Rapid Property Investments Limited

England & Wales

Ordinary

100.00

RAPID GROUP HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

Fixed assets

(Continued)

- 3 -

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Rapid Property Investments Limited

Property holding

420,911

94,487

Debtors

Debtors include an amount of £1,307,773 (2015 - £3,965,432) which is due after more than one year.

Share capital

2016

2015

Allotted, called up and fully paid

178 Ordinary Shares of £1 each

178