Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseto be that of steel stockholders and specialist fabrications.33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01609655 2023-01-01 2023-12-31 01609655 2022-01-01 2022-12-31 01609655 2023-12-31 01609655 2022-12-31 01609655 2022-01-01 01609655 c:Director1 2023-01-01 2023-12-31 01609655 d:Buildings 2023-01-01 2023-12-31 01609655 d:Buildings 2023-12-31 01609655 d:Buildings 2022-12-31 01609655 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01609655 d:PlantMachinery 2023-01-01 2023-12-31 01609655 d:PlantMachinery 2023-12-31 01609655 d:PlantMachinery 2022-12-31 01609655 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01609655 d:MotorVehicles 2023-01-01 2023-12-31 01609655 d:MotorVehicles 2023-12-31 01609655 d:MotorVehicles 2022-12-31 01609655 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01609655 d:OfficeEquipment 2023-01-01 2023-12-31 01609655 d:OfficeEquipment 2023-12-31 01609655 d:OfficeEquipment 2022-12-31 01609655 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01609655 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01609655 d:FreeholdInvestmentProperty 2023-01-01 2023-12-31 01609655 d:FreeholdInvestmentProperty 2023-12-31 01609655 d:CurrentFinancialInstruments 2023-12-31 01609655 d:CurrentFinancialInstruments 2022-12-31 01609655 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01609655 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01609655 d:ShareCapital 2023-12-31 01609655 d:ShareCapital 2022-12-31 01609655 d:RevaluationReserve 2023-01-01 2023-12-31 01609655 d:RevaluationReserve 2023-12-31 01609655 d:RevaluationReserve 2022-12-31 01609655 d:RetainedEarningsAccumulatedLosses 2023-12-31 01609655 d:RetainedEarningsAccumulatedLosses 2022-12-31 01609655 c:OrdinaryShareClass1 2023-01-01 2023-12-31 01609655 c:OrdinaryShareClass1 2023-12-31 01609655 c:OrdinaryShareClass1 2022-12-31 01609655 c:OrdinaryShareClass2 2023-01-01 2023-12-31 01609655 c:OrdinaryShareClass2 2023-12-31 01609655 c:OrdinaryShareClass2 2022-12-31 01609655 c:OrdinaryShareClass3 2023-01-01 2023-12-31 01609655 c:OrdinaryShareClass3 2023-12-31 01609655 c:OrdinaryShareClass3 2022-12-31 01609655 c:FRS102 2023-01-01 2023-12-31 01609655 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01609655 c:FullAccounts 2023-01-01 2023-12-31 01609655 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01609655 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01609655 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 01609655 d:RetirementBenefitObligationsDeferredTax 2023-12-31 01609655 d:RetirementBenefitObligationsDeferredTax 2022-12-31 01609655 2 2023-01-01 2023-12-31 01609655 5 2023-01-01 2023-12-31 01609655 6 2023-01-01 2023-12-31 01609655 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01609655









RTJ INTERNATIONAL LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
RTJ INTERNATIONAL LIMITED
REGISTERED NUMBER: 01609655

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,243,146
1,215,810

Investment property
  
313,798
-

  
1,556,944
1,215,810

Current assets
  

Stocks
  
76,000
52,517

Debtors: amounts falling due within one year
 6 
435,082
465,972

Current asset investments
 7 
169,509
76,009

Cash at bank and in hand
  
930,130
488,352

  
1,610,721
1,082,850

Creditors: amounts falling due within one year
 8 
(1,072,997)
(603,674)

Net current assets
  
 
 
537,724
 
 
479,176

Total assets less current liabilities
  
2,094,668
1,694,986

Provisions for liabilities
  

Deferred tax
 9 
(121,723)
(83,838)

  
 
 
(121,723)
 
 
(83,838)

Net assets
  
1,972,945
1,611,148


Capital and reserves
  

Called up share capital 
 10 
100
100

Revaluation reserve
 11 
140,444
140,444

Profit and loss account
 11 
1,832,401
1,470,604

  
1,972,945
1,611,148


Page 1

 
RTJ INTERNATIONAL LIMITED
REGISTERED NUMBER: 01609655
    
STATEMENT OF FINANCIAL POSITION (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 income and retained earnings 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 on 11 June 2024.




Scott Ellis 
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
RTJ INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is registered in England and Wales. Its' registered office is Racecourse Road, Pinvin Indistrial Estate, Pershore, Worcestershire, WR10 2EY. The principal activity continues to be that of steel stockholders and specialised fabrications.

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

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

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

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

 
2.4

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.

Page 3

 
RTJ INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting 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 reporting 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 reporting date.

 
2.6

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, as follows:.

Depreciation is provided on the following basis:

Freehold property
-
2% Straight line
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
25% straight line

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.

Page 4

 
RTJ INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
RTJ INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

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.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 6

 
RTJ INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
915,000
698,149
68,104
60,398
1,741,651


Additions
-
163,649
-
-
163,649



At 31 December 2023

915,000
861,798
68,104
60,398
1,905,300



Depreciation


At 1 January 2023
-
430,744
63,448
31,649
525,841


Charge for the year on owned assets
18,300
104,114
4,656
9,242
136,312



At 31 December 2023

18,300
534,858
68,104
40,891
662,153



Net book value



At 31 December 2023
896,700
326,940
-
19,507
1,243,147



At 31 December 2022
915,000
267,405
4,656
28,749
1,215,810

Page 7

 
RTJ INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Investment property


Freehold investment property

£



Valuation


Additions at cost
313,798



At 31 December 2023
313,798

The 2023 valuations were made by the directors , on an open market value for existing use basis.



At 31 December 2023



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
313,798
-

313,798
-

Page 8

 
RTJ INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
351,237
372,009

Other debtors
83,845
93,963

435,082
465,972



7.


Current asset investments

2023
2022
£
£

Unlisted investments
169,509
76,009

169,509
76,009



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
147,989
111,752

Corporation tax
114,504
83,955

Other taxation and social security
40,236
36,107

Other creditors
367,743
367,743

Accruals and deferred income
402,525
4,117

1,072,997
603,674


Page 9

 
RTJ INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
83,838
44,260


Charged to profit or loss
37,885
39,578



At end of year
121,723
83,838

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
86,612
57,154

Property Revaluation
35,111
26,684

121,723
83,838


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



72 (2022 - 72) ordinary 'A' shares shares of £1.00 each
72
72
25 (2022 - 25) ordinary 'B' shares shares of £1.00 each
25
25
3 (2022 - 3) ordinary 'C' shares shares of £1.00 each
3
3

100

100



11.


Reserves

Revaluation reserve

Included within the revaluation reserve is an udistributable freehold property revaluation of £140,444. 


12.


Controlling party

The controlling interest in the company is held by Scott Ellis.

 
Page 10