Rapid Interiors Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07973877 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

RAPID INTERIORS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

6

DIRECTORS:

Mr S P Carter

Mr L S Lowe

REGISTERED OFFICE:

98 Hornchurch Road

Hornchurch

Essex

RM11 1JS

REGISTERED NUMBER:

07973877 (England and Wales)

ACCOUNTANTS:

Stephen Farra Associates Limited

98 Hornchurch Road

Hornchurch

Essex

RM11 1JS

FIXED ASSETS

Tangible assets

4

18,947

17,195

CURRENT ASSETS

Debtors

71,060

90,087

Cash at bank and in hand

14,885

31,584

85,945

121,671

CREDITORS

Amounts falling due within one year

67,280

106,625

NET CURRENT ASSETS

18,665

15,046

TOTAL ASSETS LESS CURRENT LIABILITIES

37,612

32,241

CREDITORS

Amounts falling due after more than one year

(8,611

)

-

PROVISIONS FOR LIABILITIES

(3,694

)

(3,262

)

NET ASSETS

25,307

28,979

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

25,157

28,829

SHAREHOLDERS' FUNDS

25,307

28,979

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 17 November 2017 and were signed on its behalf by:

Mr S P Carter - Director

Mr L S Lowe - Director

1.	STATUTORY INFORMATION

Rapid Interiors 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

38,809

Additions

13,128

Disposals

(12,000

)

At 31 March 2017

39,937

DEPRECIATION

At 1 April 2016

21,614

Charge for year

6,309

Eliminated on disposal

(6,933

)

At 31 March 2017

20,990

NET BOOK VALUE

At 31 March 2017

18,947

At 31 March 2016

17,195

5.	RELATED PARTY DISCLOSURES

During the year, total dividends of £36,000 (2016 - £57,000) were paid to the directors .

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements

and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Rapid Interiors Limited for the year ended 31 March 2017 which comprise the Abridged Income

Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Rapid Interiors Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rapid Interiors Limited and state those matters that we have agreed to state to the Board of Directors of Rapid Interiors Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rapid Interiors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rapid Interiors Limited. You consider that Rapid Interiors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rapid Interiors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Stephen Farra Associates Limited

98 Hornchurch Road

Hornchurch

Essex

RM11 1JS

17 November 2017