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REGISTERED NUMBER: 10237041 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

RW Invest North Ltd

RW Invest North Ltd (Registered number: 10237041)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RW Invest North Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M J Gledhill
A S Hamm





REGISTERED OFFICE: 44 The Pantiles
Tunbridge wells
Kent
TN2 5TN





REGISTERED NUMBER: 10237041 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

RW Invest North Ltd (Registered number: 10237041)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 142,797 76,969
Investments 5 165 165
142,962 77,134

CURRENT ASSETS
Debtors 6 6,767,725 6,460,795
Cash at bank 577,781 476,670
7,345,506 6,937,465
CREDITORS
Amounts falling due within one year 7 (4,089,050 ) (3,849,634 )
NET CURRENT ASSETS 3,256,456 3,087,831
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,399,418

3,164,965

CREDITORS
Amounts falling due after more than one
year

8

(75,934

)

-

PROVISIONS FOR LIABILITIES (35,699 ) -
NET ASSETS 3,287,785 3,164,965

CAPITAL AND RESERVES
Called up share capital 10 3 3
Retained earnings 3,287,782 3,164,962
SHAREHOLDERS' FUNDS 3,287,785 3,164,965

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

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

RW Invest North Ltd (Registered number: 10237041)

Balance Sheet - continued
31 March 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 28 February 2024 and were signed on its behalf by:





A S Hamm - Director


RW Invest North Ltd (Registered number: 10237041)

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

1. STATUTORY INFORMATION

RW Invest North Ltd 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.

The functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the company's forecasts and projections, the members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Preparation of consolidated financial statements
The financial statements contain information about RW Invest North Ltd 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.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Management fee income represents the value of services provided and is recognised on an accruals basis. Government grants are recognised on an accruals basis in accordance with the substance of the relevant agreement. Dividend income is recognised when the right to it has been established.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

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

RW Invest North Ltd (Registered number: 10237041)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 contributes to employee pension schemes and the pension charge represents the amounts payable by the company to the funds in respect of the year.

Provision for liabilities
Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Dividends
Dividends are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 50 ) .

RW Invest North Ltd (Registered number: 10237041)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 183,317
Additions 112,222
Disposals (4,380 )
At 31 March 2023 291,159
DEPRECIATION
At 1 April 2022 106,348
Charge for year 43,467
Eliminated on disposal (1,453 )
At 31 March 2023 148,362
NET BOOK VALUE
At 31 March 2023 142,797
At 31 March 2022 76,969

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 165
NET BOOK VALUE
At 31 March 2023 165
At 31 March 2022 165

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 232,477 82,555
Amounts owed by group undertakings 815,000 1,815,000
Other debtors 5,720,248 4,563,240
6,767,725 6,460,795

RW Invest North Ltd (Registered number: 10237041)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts (see note 9) 8,305 -
Trade creditors 343,068 198,175
Amounts owed to group undertakings 792,810 889,915
Amounts owed to participating interests 23,320 20,508
Taxation and social security 776,745 884,592
Other creditors 2,144,802 1,856,444
4,089,050 3,849,634

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts (see note 9) 75,934 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.23 31.3.22
£    £   
Net obligations repayable:
Within one year 8,305 -
Between one and five years 75,934 -
84,239 -

Non-cancellable operating leases
31.3.23 31.3.22
£    £   
Within one year 28,105 78,211
Between one and five years 5,329 24,739
33,434 102,950

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
3 Ordinary £1 3 3

RW Invest North Ltd (Registered number: 10237041)

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

11. RELATED PARTY DISCLOSURES

As at the balance sheet date £815,000 (2022: £1,815,000) was owed from group companies and included in debtors falling due within one year. The amounts due are interest free and repayable on demand.

As at the balance sheet date £868,157 (2022: £1,012,480) was owed to group companies and included in creditors falling due within one year. £75,347 (2022: £122,565) of this is included in trade creditors. The amount is interest free and repayable on demand.

As at the balance sheet date £23,320 (2022: £20,508) was owed to participating interests and included in creditors falling due within one year. The amount is interest free and repayable on demand.

As at the balance sheet date £5,556,813 (2022: £4,464,912) was owed from entities connected to key management personnel and included in debtors falling due within one year. The loans are interest free and repayable on demand.

At the balance sheet date £650,571 (2022: £nil) was owing to entities connected to key management personnel and included in creditors falling due within one year. £150,571 (2022: £nil) of this was is included in trade creditors. The amounts are interest free and repayable on demand.

During the period the company charged £1,284,774 (2022: £1,421,953) to group companies for recharged expenses and management fees. Group companies charged RW Invest North Limited £3,303,958 (2022: £4,754,220) for commissions receivable. During the period the company charged £913,126 (2022: £4,793,708) entities connected to key management personnel for commissions receivable

12. CONTROLLING PARTY

The company is immediately controlled by R W Invest Holdings Limited and ultimately by RW Invest UK Holdings Limited.