Company Registration No. 13438354 (England and Wales)
RTW Global Investments Ltd.
Financial statements
for the year ended 31 December 2023
Pages for filing with the registrar
RTW Global Investments Ltd.
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
RTW Global Investments Ltd.
Statement of financial position
As at 31 December 2023
1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
232,916
143,037
Cash at bank and in hand
507,350
194,605
740,266
337,642
Creditors: amounts falling due within one year
4
(383,107)
(281,078)
Net current assets
357,159
56,564
Capital and reserves
Called up share capital
5
1
1
Share premium account
200,000
Profit and loss reserves
157,158
56,563
Total equity
357,159
56,564
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 February 2024 and are signed on its behalf by:
Edward Stileman
Director
Company Registration No. 13438354
RTW Global Investments Ltd.
Notes to the financial statements
For the year ended 31 December 2023
2
1
Accounting policies
Company information
RTW Global Investments Ltd. is a private company limited by shares incorporated in England and Wales. The registered office is 50 Broadway, Westminster, London, SW1H 0BL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. Revenue from group companies is charged on a cost-plus basis, and so is recognised as the costs are incurred.
1.3
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.
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 debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
RTW Global Investments Ltd.
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
3
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
RTW Global Investments Ltd.
Notes to the financial statements (continued)
For the year ended 31 December 2023
4
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
2
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
203,578
139,526
Other debtors
29,338
3,511
232,916
143,037
4
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
32,550
45,000
Other taxation and social security
301,156
179,427
Other creditors
49,401
56,651
383,107
281,078
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
2 of 0.0785p each
2
1
1
1
On 22 August 2023, the sole share of the Company was redenominated from a par value of USD $0.001 to GBP £0.0007857. Subsequent to this, on 28 August 2023, a second share was issued to the existing shareholder for consideration of £200,000.
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
RTW Global Investments Ltd.
Notes to the financial statements (continued)
For the year ended 31 December 2023
6
Audit report information (continued)
5
Senior Statutory Auditor:
Andrew Watkinson
Statutory Auditors:
Saffery LLP
7
Parent undertaking
The parent undertaking of RTW Global Investments Ltd. is RTW Investments LP and its registered office is 40 10th Avenue 7th Floor, 10014, New York, United States.