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Registered number: 03913445
Rudholm UK Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03913445
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 197,302 202,839
197,302 202,839
CURRENT ASSETS
Debtors 6 8,713 9,697
Cash at bank and in hand 22,473 29,440
31,186 39,137
Creditors: Amounts Falling Due Within One Year 7 (56,052 ) (87,884 )
NET CURRENT ASSETS (LIABILITIES) (24,866 ) (48,747 )
TOTAL ASSETS LESS CURRENT LIABILITIES 172,436 154,092
Creditors: Amounts Falling Due After More Than One Year 8 (31,000 ) (43,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (805 ) (974 )
NET ASSETS 140,631 110,118
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 139,631 109,118
SHAREHOLDERS' FUNDS 140,631 110,118
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Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R J Wollin
Director
9 March 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Rudholm UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03913445 . The registered office is 9-11 Stratford Road, Shirley, Solihull, B90 3LU.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents net sale of goods and services provided in the accounting period, excluding value added tax.
Exports to countries outside the United Kingdom represent 100% of turnover (2022 100%).
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software.  It was amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on cost of the building
Plant & Machinery 2% on cost
Office Equipment 25% on cost
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 5)
5 5
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 2,275
As at 31 December 2023 2,275
Amortisation
As at 1 January 2023 2,275
As at 31 December 2023 2,275
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
The website was amortised over its useful life of three years.
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Office Equipment Total
£ £ £ £
Cost
As at 1 January 2023 248,969 9,249 20,134 278,352
As at 31 December 2023 248,969 9,249 20,134 278,352
Depreciation
As at 1 January 2023 51,699 6,823 16,991 75,513
Provided during the period 4,567 63 907 5,537
As at 31 December 2023 56,266 6,886 17,898 81,050
Net Book Value
As at 31 December 2023 192,703 2,363 2,236 197,302
As at 1 January 2023 197,270 2,426 3,143 202,839
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 4,779 4,750
Tax 2,345 2,345
VAT 1,589 2,602
8,713 9,697
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 6,009 2,402
Corporation tax 10,804 9,920
Pensions payable - 377
Accruals and deferred income 3,500 3,446
Amounts owed to group undertakings 35,739 71,739
56,052 87,884
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Amounts owed to group undertakings 31,000 43,000
31,000 43,000
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 974 974
Deferred taxation (169 ) (169 )
Balance at 31 December 2023 805 805
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Related Party Transactions
The company provides marketing services to a fellow subsidiary undertaking, Rudholm & Haak (H.K.) Limited. During the year the services provided totalled £346,900 (2022 £304,700). The balance owed to the fellow subsidiary undertaking is interest free and repayable on demand and at 31st December 2023 was £23,745 (2022 £59,745).
The company also received £10,562 (2022 £9,840) from Rudholm Tekstil Aksesuarlari Sanayi Ve Tic Ltd.
There were no other transactions with companies owned by its parent company. Funds owed to the ultimate parent company at 31st December 2023 were £43,000 (2022 £55,000), and funds due from Rudholm & Haak another member of the group at 31st December 2023 was £6 (2022 £6).
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