Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31133084772022-04-01falseThe principal activity of the Company is the lease of E-chargers and sale of electricity.22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13308477 2022-04-01 2023-03-31 13308477 2021-04-21 2022-03-31 13308477 2023-03-31 13308477 2022-03-31 13308477 c:Director3 2022-04-01 2023-03-31 13308477 d:PlantMachinery 2022-04-01 2023-03-31 13308477 d:PlantMachinery 2023-03-31 13308477 d:PlantMachinery 2022-03-31 13308477 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 13308477 d:Goodwill 2022-04-01 2023-03-31 13308477 d:Goodwill 2023-03-31 13308477 d:Goodwill 2022-03-31 13308477 d:CurrentFinancialInstruments 2023-03-31 13308477 d:CurrentFinancialInstruments 2022-03-31 13308477 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13308477 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13308477 d:ShareCapital 2023-03-31 13308477 d:ShareCapital 2022-03-31 13308477 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 13308477 d:RetainedEarningsAccumulatedLosses 2023-03-31 13308477 d:RetainedEarningsAccumulatedLosses 2022-03-31 13308477 c:OrdinaryShareClass1 2022-04-01 2023-03-31 13308477 c:OrdinaryShareClass1 2023-03-31 13308477 c:OrdinaryShareClass1 2022-03-31 13308477 c:FRS102 2022-04-01 2023-03-31 13308477 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13308477 c:FullAccounts 2022-04-01 2023-03-31 13308477 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13308477 d:Subsidiary1 2022-04-01 2023-03-31 13308477 d:Subsidiary1 1 2022-04-01 2023-03-31 13308477 6 2022-04-01 2023-03-31 13308477 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure



















Raw Charging Network Limited

Registered number: 13308477
Information for filing with the Registrar
For the year ended 31 March 2023

 
31 March 2023
RAW CHARGING NETWORK LIMITED
REGISTERED NUMBER: 13308477

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
102,432
131,018

Tangible assets
 5 
728,497
197,471

Investments
 6 
1
1

  
830,930
328,490

Current assets
  

Debtors: amounts falling due within one year
 7 
186,265
83,093

Cash at bank and in hand
 8 
220,341
2,280

  
406,606
85,373

Creditors: amounts falling due within one year
 9 
(1,317,571)
(418,303)

Net current liabilities
  
 
 
(910,965)
 
 
(332,930)

Total assets less current liabilities
  
(80,035)
(4,440)

  

Net liabilities
  
(80,035)
(4,440)


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
 11 
(80,036)
(4,441)

  
(80,035)
(4,440)


- 1 -

 
31 March 2023
RAW CHARGING NETWORK LIMITED
REGISTERED NUMBER: 13308477
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 March 2024.



N R De Mestre
Director

The notes on pages 3 to 12 form part of these financial statements.

- 2 -

 
31 March 2023
RAW CHARGING NETWORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Raw Charging Network Limited (the "Company") is a private company, limited by shares and registered in England and Wales, registered number 13308477. The registered office is Bowcliffe Hall, Bramham, Wetherby, West Yorkshire, United Kingdom, LS23 6LP.
The principal activity of Raw Charging Network Limited is the operation of a public EVSE network.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the Company has the support of the Parent Company through a guarantee which confirms the Parent Company will support the Company for the foreseeable future. As a result, the Company will continue to trade for at least 12 months from the date of these financial statements. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements of the Company.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

- 3 -

 
31 March 2023
RAW CHARGING NETWORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

- 4 -

 
31 March 2023
RAW CHARGING NETWORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
5
years

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Charging assets
-
12 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

- 5 -

 
31 March 2023
RAW CHARGING NETWORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

- 6 -

 
31 March 2023
RAW CHARGING NETWORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

- 7 -

 
31 March 2023
RAW CHARGING NETWORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
2
2

- 8 -

 
31 March 2023
RAW CHARGING NETWORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
142,929



At 31 March 2023

142,929



Amortisation


At 1 April 2022
11,911


Charge for the year
28,586



At 31 March 2023

40,497



Net book value



At 31 March 2023
102,432



At 31 March 2022
131,018



- 9 -

 
31 March 2023
RAW CHARGING NETWORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Charging assets

£



Cost


At 1 April 2022
204,658


Additions
555,977



At 31 March 2023

760,635



Depreciation


At 1 April 2022
7,187


Charge for the year
24,951



At 31 March 2023

32,138



Net book value



At 31 March 2023
728,497



At 31 March 2022
197,471

- 10 -

 
31 March 2023
RAW CHARGING NETWORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
1



At 31 March 2023
1





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Raw Charging Network (GK) Limited
Bowcliffe Hall, Bramham, Wetherby, Yorkshire, LS23 6LP
Ordinary
100%


7.


Debtors

2023
2022
£
£


Trade debtors
-
4,748

Amounts owed by group undertakings
1
1

Other debtors
14,225
31,915

Prepayments and accrued income
172,039
46,429

186,265
83,093


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.


8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
220,341
2,280


- 11 -

 
31 March 2023
RAW CHARGING NETWORK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
74,131
-

Amounts owed to group undertakings
890,857
257,024

Other creditors
136,021
104,001

Accruals and deferred income
216,562
57,278

1,317,571
418,303


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



11.


Reserves

Profit and loss account

This reserve represents cumulative profits and losses, less any dividends declared.


12.


Related party transactions

The Company has taken advantage of the exemption conferred by FRS 102 paragraph 33.1A and has not disclosed transactions and outstanding balances with its fellow subsidiary undertakings or parent undertaking on the basis that all the relevant companies are directly or indirectly wholly owned by Raw Charging Group Limited. 


13.


Controlling party

The immediate and ultimate parent company is Raw Charging Group Limited, a company registered in England and Wales. 
The ultimate controlling party, by virtue of majority shareholding in the Parent Company, is Antin Infrastructure Services Luxembourg Li, a company incorporated in Luxembourg. 

- 12 -