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Registration number: 11974853

RWB Group (UK) Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2023

 

RWB Group (UK) Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

RWB Group (UK) Ltd

Company Information

Director

Mrs D Bandoquillo

Registered office

Unit 115-119 Fort Dunlop
Fort Parkway
Birmingham
B24 9FE

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
RWB Group (UK) Ltd
for the Year Ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of RWB Group (UK) Ltd for the year ended 31 May 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Accounting Technicians, we are subject to its ethical and other professional requirements which are detailed at https://www.aat.org.uk/membership/ standards-requirements/professional-ethics.

This report is made solely to the Board of Directors of RWB Group (UK) Ltd, as a body, in accordance with the terms of our engagement letter dated 25 October 2023. Our work has been undertaken solely to prepare for your approval the accounts of RWB Group (UK) Ltd and state those matters that we have agreed to state to the Board of Directors of RWB Group (UK) Ltd.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RWB Group (UK) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that RWB Group (UK) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of RWB Group (UK) Ltd. You consider that RWB Group (UK) Ltd 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 accounts of RWB Group (UK) Ltd. 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 accounts.

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

Erdingsworth Business & Tax Advisors
Unit 115-119 Fort Dunlop
Fort Parkway
Birmingham
B24 9FE

5 January 2024

 

RWB Group (UK) Ltd

(Registration number: 11974853)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

59,784

145,640

Current assets

 

Debtors

5

26,014

20,340

Cash at bank and in hand

 

3,427

7,391

 

29,441

27,731

Creditors: Amounts falling due within one year

6

(36,547)

(36,945)

Net current liabilities

 

(7,106)

(9,214)

Total assets less current liabilities

 

52,678

136,426

Creditors: Amounts falling due after more than one year

6

-

(60,637)

Net assets

 

52,678

75,789

Capital and reserves

 

Called up share capital

7

67,265

67,265

Retained earnings

(14,587)

8,524

Shareholders' funds

 

52,678

75,789

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 January 2024
 

.........................................
Mrs D Bandoquillo
Director

 

RWB Group (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 115-119 Fort Dunlop
Fort Parkway
Birmingham
B24 9FE

These financial statements were authorised for issue by the director on 5 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

RWB Group (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% Reducing Balance

Fixtures & Fittings

10% Reducing Balance

Office Equipment

20% Reducing Balance

Motor Vehicles

Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

RWB Group (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

2

Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2022 - 7).

 

RWB Group (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 June 2022

4,244

76,126

1,300

71,336

Disposals

-

-

-

(71,336)

At 31 May 2023

4,244

76,126

1,300

-

Depreciation

At 1 June 2022

835

5,897

634

-

Charge for the year

341

14,046

133

-

At 31 May 2023

1,176

19,943

767

-

Carrying amount

At 31 May 2023

3,068

56,183

533

-

At 31 May 2022

3,409

70,229

666

71,336

Total
£

Cost or valuation

At 1 June 2022

153,006

Disposals

(71,336)

At 31 May 2023

81,670

Depreciation

At 1 June 2022

7,366

Charge for the year

14,520

At 31 May 2023

21,886

Carrying amount

At 31 May 2023

59,784

At 31 May 2022

145,640

5

Debtors

 

RWB Group (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

5

Debtors (continued)

Current

2023
£

2022
£

Trade debtors

26,014

20,340

 

26,014

20,340

 

RWB Group (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

(6,518)

(236)

Taxation and social security

 

41,739

36,461

Accruals and deferred income

 

-

720

Other creditors

 

1,326

-

 

36,547

36,945

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

-

60,637

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

67,265

67,265

67,265

67,265

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

12,891

Other borrowings

-

47,746

-

60,637

 

RWB Group (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

8

Loans and borrowings (continued)

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

4,402

Other borrowings

(6,518)

(4,638)

(6,518)

(236)