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REGISTERED NUMBER: 02610574 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

RSL Awards Limited

RSL Awards Limited (Registered number: 02610574)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RSL Awards Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: N O York
J D Simpson
Mrs E J York
T L Bennett-Hart





SECRETARY: N O York





REGISTERED OFFICE: Ground Floor
Harlequin House
7 High Street
Teddington
Middlesex
TW11 8EE





REGISTERED NUMBER: 02610574 (England and Wales)





ACCOUNTANTS: Blackwood Futcher & Co.
Chartered Accountants
9 St George's Yard
Farnham
Surrey
GU9 7LW

RSL Awards Limited (Registered number: 02610574)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 230,525 73,516
Tangible assets 5 46,011 56,091
Investments 6 56,550 56,550
333,086 186,157

CURRENT ASSETS
Stocks 6,335 16,184
Debtors 7 1,258,890 996,864
Cash at bank 230,078 36,136
1,495,303 1,049,184
CREDITORS
Amounts falling due within one year 8 1,471,831 999,399
NET CURRENT ASSETS 23,472 49,785
TOTAL ASSETS LESS CURRENT
LIABILITIES

356,558

235,942

CREDITORS
Amounts falling due after more than one
year

9

(216,795

)

(316,667

)

PROVISIONS FOR LIABILITIES - (9,815 )
NET ASSETS/(LIABILITIES) 139,763 (90,540 )

CAPITAL AND RESERVES
Called up share capital 119 119
Capital redemption reserve 8 8
Retained earnings 139,636 (90,667 )
SHAREHOLDERS' FUNDS 139,763 (90,540 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

RSL Awards Limited (Registered number: 02610574)

Balance Sheet - continued
31 August 2023


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 14 December 2023 and were signed on its behalf by:





N O York - Director


RSL Awards Limited (Registered number: 02610574)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

RSL Awards 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.

Preparation of consolidated financial statements
The financial statements contain information about RSL Awards Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, excluding value added tax.

In respect of long term contracts and contracts for on-going services, turnover represents the value of work done in the year, including reliable estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Intangible fixed assets
The intangible fixed asset consists of costs in relation to worldwide trademark applications and the construction of a web-site. The directors considers the trademarks costs to have a life of ten years and have therefore amortised them over ten years on a straight line basis, and the web-site costs to have a life of five years and have therefore amortised them over five years on a straight line basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


RSL Awards Limited (Registered number: 02610574)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued
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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2022 - 47 ) .

RSL Awards Limited (Registered number: 02610574)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2022 131,034
Additions 182,699
Disposals (42,729 )
At 31 August 2023 271,004
AMORTISATION
At 1 September 2022 57,518
Charge for year 25,690
Eliminated on disposal (42,729 )
At 31 August 2023 40,479
NET BOOK VALUE
At 31 August 2023 230,525
At 31 August 2022 73,516

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 255,584
Additions 7,565
Disposals (70,661 )
At 31 August 2023 192,488
DEPRECIATION
At 1 September 2022 199,493
Charge for year 17,645
Eliminated on disposal (70,661 )
At 31 August 2023 146,477
NET BOOK VALUE
At 31 August 2023 46,011
At 31 August 2022 56,091

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2022
and 31 August 2023 56,550
NET BOOK VALUE
At 31 August 2023 56,550
At 31 August 2022 56,550

RSL Awards Limited (Registered number: 02610574)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 87,543 134,452
Amounts owed by group undertakings 285,000 -
Other debtors 886,347 862,412
1,258,890 996,864

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 100,000 100,000
Trade creditors 113,242 84,975
Taxation and social security 118,734 110,919
Other creditors 1,139,855 703,505
1,471,831 999,399

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans 216,795 316,667

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 316,795 416,667

The bank loan is secured by a fixed and floating charge over the company's property held by Barclays Trustee Security Limited.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the company at the year end and the date of this report are N O York and E B York by virtue of their shareholding in the immediate parent company, Yorktown Holdings Limited