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REGISTERED NUMBER: SC396418 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

RW AGENCIES LIMITED

RW AGENCIES LIMITED (REGISTERED NUMBER: SC396418)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RW AGENCIES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: S Williams
E Williams
C Chapman
J Williams





REGISTERED OFFICE: Westview Cottage
Station Road
Slamannan
Falkirk
Stirlingshire
FK1 3BQ





REGISTERED NUMBER: SC396418 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

RW AGENCIES LIMITED (REGISTERED NUMBER: SC396418)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,164 3,909
Investments 6 100 100
3,264 4,009

CURRENT ASSETS
Debtors 7 37,381 65,477
Cash at bank 827,791 600,768
865,172 666,245
CREDITORS
Amounts falling due within one year 8 156,352 85,277
NET CURRENT ASSETS 708,820 580,968
TOTAL ASSETS LESS CURRENT
LIABILITIES

712,084

584,977

PROVISIONS FOR LIABILITIES 9 1,815 971
NET ASSETS 710,269 584,006

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 710,169 583,906
SHAREHOLDERS' FUNDS 710,269 584,006

RW AGENCIES LIMITED (REGISTERED NUMBER: SC396418)

BALANCE SHEET - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 July 2024 and were signed on its behalf by:





E Williams - Director


RW AGENCIES LIMITED (REGISTERED NUMBER: SC396418)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

RW Agencies Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about RW Agencies Limited 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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable for agents fees, excluding value added tax.

GOODWILL
Goodwill has been amortised over its estimated useful life of 10 years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Heritable property - 20% per annum on cost
Fixtures and fittings - 33% per annum on cost
Computer equipment - 33% per annum on cost

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

RW AGENCIES LIMITED (REGISTERED NUMBER: SC396418)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

RW AGENCIES LIMITED (REGISTERED NUMBER: SC396418)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 90,000
AMORTISATION
At 1 April 2023
and 31 March 2024 90,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Heritable and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 14,397 4,138 7,577 26,112
Additions - - 999 999
At 31 March 2024 14,397 4,138 8,576 27,111
DEPRECIATION
At 1 April 2023 14,397 3,294 4,512 22,203
Charge for year - 490 1,254 1,744
At 31 March 2024 14,397 3,784 5,766 23,947
NET BOOK VALUE
At 31 March 2024 - 354 2,810 3,164
At 31 March 2023 - 844 3,065 3,909

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

RW AGENCIES LIMITED (REGISTERED NUMBER: SC396418)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 37,137 2,078
Other debtors 244 63,399
37,381 65,477

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 200 562
Amounts owed to group undertakings 100 100
Taxation and social security 82,431 59,115
Other creditors 73,621 25,500
156,352 85,277

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,815 971

Deferred
tax
£   
Balance at 1 April 2023 971
Charge to Statement of Income and Retained Earnings during year 844
Balance at 31 March 2024 1,815

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to / (from) directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
E Williams and J Williams
Balance outstanding at start of year 63,131 (29,804 )
Amounts advanced 56,017 153,281
Amounts repaid (162,987 ) (60,346 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (43,839 ) 63,131

Interest is charged on any overdrawn balance of £10,000 at a rate of 2% up to 5th April 2023 and 2.25% thereafter. No fixed terms of repayment have been agreed.

RW AGENCIES LIMITED (REGISTERED NUMBER: SC396418)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

11. RELATED PARTY DISCLOSURES

Included in "Other creditors" are amounts totalling £70,308 (2023 - £21,669) due to directors from the company. Interest is charged on any overdrawn balance of £10,000 at a rate of 2% up to 5th April 2023 and 2.25% thereafter. No fixed terms of repayment have been agreed.