Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-31133486382023-03-31false2022-04-01falseThe principal activity of Raw Charging Network Limited is the lease of E-chargers and sale of electricity.22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13348638 2022-04-01 2023-03-31 13348638 2021-04-21 2022-03-31 13348638 2023-03-31 13348638 2022-03-31 13348638 c:Director3 2022-04-01 2023-03-31 13348638 d:PlantMachinery 2022-04-01 2023-03-31 13348638 d:PlantMachinery 2023-03-31 13348638 d:PlantMachinery 2022-03-31 13348638 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 13348638 d:CurrentFinancialInstruments 2023-03-31 13348638 d:CurrentFinancialInstruments 2022-03-31 13348638 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13348638 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13348638 d:ShareCapital 2023-03-31 13348638 d:ShareCapital 2022-03-31 13348638 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 13348638 d:RetainedEarningsAccumulatedLosses 2023-03-31 13348638 d:RetainedEarningsAccumulatedLosses 2022-03-31 13348638 c:OrdinaryShareClass1 2022-04-01 2023-03-31 13348638 c:OrdinaryShareClass1 2023-03-31 13348638 c:OrdinaryShareClass1 2022-03-31 13348638 c:FRS102 2022-04-01 2023-03-31 13348638 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13348638 c:FullAccounts 2022-04-01 2023-03-31 13348638 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure



















Raw Charging Network (GK) Limited

Registered number: 13348638
Information for filing with the Registrar
For the year ended 31 March 2023

 
 13348638
31 March 2023
RAW CHARGING NETWORK (GK) LIMITED
REGISTERED NUMBER: 13348638

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,013,638
467,254

  
1,013,638
467,254

Current assets
  

Debtors: amounts falling due within one year
 6 
161,513
24,941

Cash at bank and in hand
 7 
62,135
5,000

  
223,648
29,941

Creditors: amounts falling due within one year
 8 
(1,328,618)
(522,947)

Net current liabilities
  
 
 
(1,104,970)
 
 
(493,006)

Total assets less current liabilities
  
(91,332)
(25,752)

  

Net liabilities
  
(91,332)
(25,752)


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
 10 
(91,333)
(25,753)

  
(91,332)
(25,752)


- 1 -

 
 13348638
31 March 2023
RAW CHARGING NETWORK (GK) LIMITED
REGISTERED NUMBER: 13348638
    
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 10 form part of these financial statements.

- 2 -

 
 13348638
31 March 2023
RAW CHARGING NETWORK (GK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Raw Charging Network (GK) Limited (the "Company") is a private company, limited by shares and registered in England and Wales, registered number 13348638. The registered office is Bowcliffe Hall, Bramham, Wetherby, West Yorkshire, United Kingdom, LS23 6LP.
The principal activity of Raw Charging Network (GK) Limited is the operation of a public EVSE network.
The accounting period is 12 months ended 31 March 2023, previously 11 months to 31 March 2022, therefore the results for the period are not wholly comparable with the prior year.

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 (see note 3).

These financial statements have been presented in pound sterling which is the functional currency of the Company, and rounded to the nearest £.

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. 

- 3 -

 
 13348638
31 March 2023
RAW CHARGING NETWORK (GK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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.

 
2.5

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 -

 
 13348638
31 March 2023
RAW CHARGING NETWORK (GK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

- 5 -

 
 13348638
31 March 2023
RAW CHARGING NETWORK (GK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

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.

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.

- 6 -

 
 13348638
31 March 2023
RAW CHARGING NETWORK (GK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

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.

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

The directors do not believe there to be any critical judgments to have been made in the process of applying the Company's accounting policies that have had a significant effect on the mounts recognised in the statutory financial statements.
Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into accounts residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on the number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into accounts. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

- 7 -

 
 13348638
31 March 2023
RAW CHARGING NETWORK (GK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Employees

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


12 month period ended
       31 March
11 month period ended
        31 March
        2023
        2022
            No.
            No.







Employees
2
2


5.


Tangible fixed assets





Charging assets

£



Cost


At 1 April 2022
479,673


Additions
598,555



At 31 March 2023

1,078,228



Depreciation


At 1 April 2022
12,419


Charge for the year
52,171



At 31 March 2023

64,590



Net book value



At 31 March 2023
1,013,638



At 31 March 2022
467,254

- 8 -

 
 13348638
31 March 2023
RAW CHARGING NETWORK (GK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
388

Amounts owed by group undertakings
63,368
1

Other debtors
56
-

Prepayments and accrued income
98,089
24,552

161,513
24,941


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


7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
62,135
5,000



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
1,272,574
511,106

Other creditors
62
-

Accruals and deferred income
55,982
11,841

1,328,618
522,947


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


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



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


- 9 -

 
 13348638
31 March 2023
RAW CHARGING NETWORK (GK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Reserves

Profit and loss account

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


11.


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.


12.


Controlling party

The immediate parent company is Raw Charging Network Limited, a company registered in England and Wales. The 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. 

- 10 -