Rapid Pest Control Limited - Period Ending 2016-09-30

Registration number: 05586923

Rapid Pest Control Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Rapid Pest Control Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Rapid Pest Control Limited
(Registration number: 05586923)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					-			132
Tangible fixed assets					414			393
					414			525
Current assets
Stocks					830			939
Debtors					4,084			5,077
Cash at bank and in hand					13,011			10,737
					17,925			16,753
Creditors: Amounts falling due within one year					(18,093)			(20,188)
Net current liabilities					(168)			(3,435)
Total assets less current liabilities					246			(2,910)
Provisions for liabilities					(83)			(79)
Net assets/(liabilities)					163			(2,989)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					162			(2,990)
Shareholders' funds/(deficit)					163			(2,989)

For the year ending 30 September 2016 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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

Approved by the director on 12 June 2017

Ms N Burnett
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Rapid Pest Control Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Goodwill is the difference between the fair value of consideration paid for an acquired entity and the aggregate of the fair value of that entity’s identifiable assets and liabilities.

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

Depreciation

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	25% straight line basis
Fixtures and fittings	20% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 2

Rapid Pest Control Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 October 2015		15,900			12,539			28,439
Additions		-			130			130
At 30 September 2016		15,900			12,669			28,569
Depreciation
At 1 October 2015		15,768			12,146			27,914
Charge for the year		132			109			241
At 30 September 2016		15,900			12,255			28,155
Net book value
At 30 September 2016		-			414			414
At 30 September 2015		132			393			525

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
1 Ordinary Share of £1 each		1			1			1			1

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