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REGISTERED NUMBER: 02057210 (England and Wales)















Financial Statements for the Year Ended 30 September 2023

for

RWO (MARINE EQUIPMENT) LTD

RWO (MARINE EQUIPMENT) LTD (REGISTERED NUMBER: 02057210)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RWO (MARINE EQUIPMENT) LTD

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr T Alderson
Mrs A K Perry





REGISTERED OFFICE: 1&2 Studley Court Mews
Studley Court
Guildford Road
Chobham
Surrey
GU24 8EB





REGISTERED NUMBER: 02057210 (England and Wales)





ACCOUNTANTS: THB LLP
1 & 2 Studley Court Mews
Studley Court
Guildford Road
Chobham
Surrey
GU24 8EB

RWO (MARINE EQUIPMENT) LTD (REGISTERED NUMBER: 02057210)

Balance Sheet
30 September 2023

30/9/23 30/9/22
Notes £    £   
CURRENT ASSETS
Stocks 198,449 198,449
Debtors 4 158,449 184,800
Cash at bank and in hand 3,290 3,341
360,188 386,590
CREDITORS
Amounts falling due within one year 5 574,445 474,682
NET CURRENT LIABILITIES (214,257 ) (88,092 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(214,257

)

(88,092

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (214,259 ) (88,094 )
SHAREHOLDERS' FUNDS (214,257 ) (88,092 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 30 June 2024 and were signed on its behalf by:





Mr B Matthews - Director


RWO (MARINE EQUIPMENT) LTD (REGISTERED NUMBER: 02057210)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Rwo (Marine Equipment) 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.

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.

On September 30, 2023 the company's liabilities exceeded its assets by £214,257. As shown in note 6 the company is supported by loans from group undertakings amounting to £150,000. The directors of the parent company and its subsidiaries have confirmed the intention of those companies to support this company for the foreseeable future. The financial statements have therefore been prepared on the basis of a going concern.

In addition, the company's parent company is in an on going dispute with its Landlord regarding an asbestos issue at this company's factory premises. These financial statements have been prepared to fulfil the company's filing obligation at Companies House and are subject to any revisions that may be necessary relating to that dispute

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Unrelieved tax losses and other 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.

RWO (MARINE EQUIPMENT) LTD (REGISTERED NUMBER: 02057210)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 14 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/23 30/9/22
£    £   
Trade debtors 158,449 184,800

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/23 30/9/22
£    £   
Trade creditors 41,512 59,911
Amounts owed to group undertakings 150,000 150,000
Taxation and social security 359,285 238,410
Other creditors 23,648 26,361
574,445 474,682

6. CONTINGENT LIABILITIES

The company is currently in dispute with their former accountant over fees owed. The final liability has not currently been decided or settled.