Company Registration No. 05262050 (England and Wales)
Rapid Autoparts Limited
Unaudited accounts
for the year ended 28 February 2023
Rapid Autoparts Limited
Unaudited accounts
Contents
Rapid Autoparts Limited
Company Information
for the year ended 28 February 2023
Company Number
05262050 (England and Wales)
Registered Office
387 GREAT HORTON ROAD
BRADFORD
WEST YORKSHIRE
BD7 3BZ
Rapid Autoparts Limited
Statement of financial position
as at 28 February 2023
Cash at bank and in hand
97,332
109,054
Creditors: amounts falling due within one year
(80,043)
(93,120)
Net current assets
97,117
92,683
Called up share capital
2,000
2,000
Profit and loss account
100,703
91,103
Shareholders' funds
102,703
93,103
For the year ending 28 February 2023 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 February 2024 and were signed on its behalf by
Ansar Hussain
Director
Company Registration No. 05262050
Rapid Autoparts Limited
Notes to the Accounts
for the year ended 28 February 2023
Rapid Autoparts Limited is a private company, limited by shares, registered in England and Wales, registration number 05262050. The registered office is 387 GREAT HORTON ROAD, BRADFORD, WEST YORKSHIRE, BD7 3BZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% straight line
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 March 2022
7,896
19,579
27,475
At 28 February 2023
7,896
26,579
34,475
At 1 March 2022
7,476
19,579
27,055
Charge for the year
84
1,750
1,834
At 28 February 2023
7,560
21,329
28,889
At 28 February 2023
336
5,250
5,586
At 28 February 2022
420
-
420
Rapid Autoparts Limited
Notes to the Accounts
for the year ended 28 February 2023
Amounts falling due within one year
Accrued income and prepayments
10,865
9,355
Other debtors
24,300
24,928
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
33,474
43,694
Trade creditors
34,735
42,076
Taxes and social security
3,344
4,966
Loans from directors
2,750
-
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
