Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false42023-01-015truetruefalse 01723037 2023-01-01 2023-12-31 01723037 2022-01-01 2022-12-31 01723037 2023-12-31 01723037 2022-12-31 01723037 2022-01-01 01723037 c:Director1 2023-01-01 2023-12-31 01723037 d:PlantMachinery 2023-01-01 2023-12-31 01723037 d:MotorVehicles 2023-01-01 2023-12-31 01723037 d:MotorVehicles 2023-12-31 01723037 d:MotorVehicles 2022-12-31 01723037 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01723037 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01723037 d:FurnitureFittings 2023-01-01 2023-12-31 01723037 d:FurnitureFittings 2023-12-31 01723037 d:FurnitureFittings 2022-12-31 01723037 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01723037 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01723037 d:ComputerEquipment 2023-01-01 2023-12-31 01723037 d:ComputerEquipment 2023-12-31 01723037 d:ComputerEquipment 2022-12-31 01723037 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01723037 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01723037 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01723037 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 01723037 d:CurrentFinancialInstruments 2023-12-31 01723037 d:CurrentFinancialInstruments 2022-12-31 01723037 d:Non-currentFinancialInstruments 2023-12-31 01723037 d:Non-currentFinancialInstruments 2022-12-31 01723037 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01723037 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01723037 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 01723037 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 01723037 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 01723037 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 01723037 d:ShareCapital 2023-12-31 01723037 d:ShareCapital 2022-12-31 01723037 d:ShareCapital 2022-01-01 01723037 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01723037 d:RetainedEarningsAccumulatedLosses 2023-12-31 01723037 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 01723037 d:RetainedEarningsAccumulatedLosses 2022-12-31 01723037 d:RetainedEarningsAccumulatedLosses 2022-01-01 01723037 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01723037 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 01723037 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01723037 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 01723037 c:OrdinaryShareClass1 2023-01-01 2023-12-31 01723037 c:OrdinaryShareClass1 2023-12-31 01723037 c:OrdinaryShareClass1 2022-12-31 01723037 c:OrdinaryShareClass2 2023-01-01 2023-12-31 01723037 c:OrdinaryShareClass2 2023-12-31 01723037 c:OrdinaryShareClass2 2022-12-31 01723037 c:FRS102 2023-01-01 2023-12-31 01723037 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01723037 c:FullAccounts 2023-01-01 2023-12-31 01723037 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01723037 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 01723037 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 01723037 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 01723037 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 01723037 2 2023-01-01 2023-12-31 01723037 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 01723037 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 01723037 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01723037









RDW SCENERY CONSTRUCTION LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
RDW SCENERY CONSTRUCTION LIMITED
REGISTERED NUMBER: 01723037

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
87,888
79,516

Current assets
  

Debtors: amounts falling due within one year
 5 
384,639
699,720

Cash at bank and in hand
  
13,733
101,875

  
398,372
801,595

Creditors: amounts falling due within one year
 6 
(210,432)
(302,940)

Net current assets
  
 
 
187,940
 
 
498,655

Total assets less current liabilities
  
275,828
578,171

Creditors: amounts falling due after more than one year
 7 
(16,501)
(51,264)

Provisions for liabilities
  

Deferred tax
 10 
(14,091)
(13,931)

Net assets
  
245,236
512,976


Capital and reserves
  

Called up share capital 
 11 
120
120

Profit and loss account
  
245,116
512,856

  
245,236
512,976


Page 1

 
RDW SCENERY CONSTRUCTION LIMITED
REGISTERED NUMBER: 01723037

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 by: 



A J Howe-Davies
Director
Date: 1 August 2024

The notes on pages 4 to 12 form part of these financial statements.

Page 2

 
RDW SCENERY CONSTRUCTION LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
120
577,662
577,782



Loss for the year
-
(3,184)
(3,184)

Irrecoverable s455 taxation
-
(61,622)
(61,622)



At 1 January 2023
120
512,856
512,976



Loss for the year
-
(267,740)
(267,740)


At 31 December 2023
120
245,116
245,236


The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
RDW SCENERY CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

RDW Scenery Construction Limited is a private company, limited by shares, and is incorporated in England and Wales. The address of its registered office is 3rd Floor 24 Old Bond Street, London W1S 4AP.
The financial statements are presented in sterling which is the functional currency of the company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 4

 
RDW SCENERY CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
RDW SCENERY CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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 and the reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
on cost
Fixtures and fittings
-
25%
reducing balance
Computer equipment
-
33%
on cost

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.

 
2.11

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.

 
2.12

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 Balance Sheet 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.

 

Page 6

 
RDW SCENERY CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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.

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 directors, during the year was 4 (2022 - 5).

Page 7

 
RDW SCENERY CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost


At 1 January 2023
72,491
56,445
11,675
140,611


Additions
44,755
-
-
44,755



At 31 December 2023

117,246
56,445
11,675
185,366



Depreciation


At 1 January 2023
19,059
34,780
7,256
61,095


Charge for the year on owned assets
-
5,416
1,656
7,072


Charge for the year on financed assets
29,311
-
-
29,311



At 31 December 2023

48,370
40,196
8,912
97,478



Net book value



At 31 December 2023
68,876
16,249
2,763
87,888



At 31 December 2022
53,432
21,665
4,419
79,516

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
35,308
53,432

Page 8

 
RDW SCENERY CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
89,824
148,452

Amounts owed by group undertakings
284,820
543,914

Other debtors
3,398
2,000

Prepayments and accrued income
6,597
5,354

384,639
699,720



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,113
9,864

Other loans
52,650
86,012

Trade creditors
41,925
80,787

Amounts owed to group undertakings
71,938
61,684

Corporation tax
-
10,793

Other taxation and social security
-
37,458

Obligations under finance lease and hire purchase contracts
24,667
7,617

Other creditors
2,539
326

Accruals and deferred income
6,600
8,399

210,432
302,940


The following liabilities were secured:

2023
2022
£
£



Hire purchases
24,667
32,284

Details of security provided:

The above liabilities are secured on the specific assets as shown in the fixed asset note.

Page 9

 
RDW SCENERY CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,501
26,597

Net obligations under finance leases and hire purchase contracts
-
24,667

16,501
51,264



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,113
9,864

Other loans
52,650
86,012

62,763
95,876

Amounts falling due 1-2 years

Bank loans
16,501
26,597

79,264
122,473



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
1,929
9,546

Between 1-5 years
22,738
22,738

24,667
32,284

Page 10

 
RDW SCENERY CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
(13,931)


Charged to profit or loss
(160)



At end of year
(14,091)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(14,877)
(13,931)

Tax losses carried forward
786
-


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) "A" Ordinary shares of £1.00 each
100
100
20 (2022 - 20) "B" Ordinary shares of £1.00 each
20
20

120

120

The "A" ordinary shares carry full voting rights and the "B" Ordinary shares are non voting.  The "B" Ordinary shares carry rights to capital and income as per the company's memorandum and articles of association.



12.


Pension commitments

The Company operates a defined contributions pension scheme and also makes employer contributions to employee's schemes. The assets of the schemes are held separately from those of the Company  in independently administered funds. The pension cost charge represents contributions payable by the Company to the funds and amounted to £2,310 (2022 - £2,334). Contributions of £194 (2022 - £326) were payable to the funds at the balance sheet date


13.


Related party transactions

The company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or balances with other wholly owned members of the group.
A J Howe-Davies has provided a personal guarantee for other loans of £52,206 (2022 - £86,012). 

Page 11

 
RDW SCENERY CONSTRUCTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Parent undertaking

The immediate parent company is The Stockyard Limited, a company registered in England and Wales. Its registered office is 3rd Floor, 24 Old Bond Street, London, W1S 4BH.
The ultimate parent company is New York Associates Limited, a company incorporated in the England and Wales.


Page 12