Company registration number 03623235 (England and Wales)
RKW LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
RKW LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RKW LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Capital and reserves
Called up share capital
6,790,398
6,790,398
Other reserves
352,244
352,244
Profit and loss reserves
(7,142,642)
(7,142,642)
Total equity
-
0
-
0

The directors of the company have elected not to include a copy of the profit and loss account 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 8 August 2024 and are signed on its behalf by:
Ms K J Vercher
Director
Company Registration No. 03623235
RKW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

RKW Limited is a private company, limited by shares, incorporated in England and Wales. The registered office is 64 Hagley Road, Birmingham, United Kingdom, B16 8PF.

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
Going concern

After taking into account the economic conditions, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Spearmint Rhino Companies Worldwide continues to be supportive of the company and its business. The company therefore continues to adopt the going concern basis in preparing its financial statements.true

As permitted by FRS 102, investment properties used by fellow group undertakings are initially valued at at cost, included within property, plant and equipment and subsequently carried at amortised cost.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand,

1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

RKW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
4
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.

Senior Statutory Auditor:
Paul Creasey
Statutory Auditor:
Azets Audit Services
5
Financial commitments, guarantees and contingent liabilities

At the year end the company is party to a cross guarantee with members of its group headed by Spearmint Rhino Ventures (UK) Limited and associated group headed by Spearmint Rhino JSUK Limited. In the event of the cross guarantee being enforced the company is contingently liable for the amounts due to the bank at that time. The directors do not expect this liability to crystallise in the foreseeable future.

6
Events after the reporting date

Since the year end, the company purchased an investment property and commenced trading.

RKW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
7
Ultimate controlling party

The immediate parent company is Spearmint Rhino Ventures (UK) Limited, a company incorporated in England and Wales. The registered office is 64 Hagley Road, Birmingham, B16 8PF.

 

The ultimate controlling party is J Gray.

8
Related Party Disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2023-12-312023-01-01false09 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedMs K J VercherMr J R SpechtSpearmint Rhino Secretarial Services Ltdfalsefalse036232352023-01-012023-12-31036232352023-12-3103623235core:ShareCapital2023-12-3103623235core:ShareCapital2022-12-3103623235core:OtherMiscellaneousReserve2023-12-3103623235core:OtherMiscellaneousReserve2022-12-3103623235core:RetainedEarningsAccumulatedLosses2023-12-3103623235core:RetainedEarningsAccumulatedLosses2022-12-31036232352022-12-3103623235bus:Director12023-01-012023-12-31036232352022-01-012022-12-3103623235bus:PrivateLimitedCompanyLtd2023-01-012023-12-3103623235bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103623235bus:FRS1022023-01-012023-12-3103623235bus:Audited2023-01-012023-12-3103623235bus:Director22023-01-012023-12-3103623235bus:CompanySecretary12023-01-012023-12-3103623235bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP