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REGISTERED NUMBER: NI676795 (Northern Ireland)













RTD CRAWFORD HOLDINGS LTD

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Consolidated Income Statement 11

Consolidated Other Comprehensive Income 12

Consolidated Balance Sheet 13

Company Balance Sheet 15

Consolidated Statement of Changes in Equity 16

Company Statement of Changes in Equity 17

Consolidated Cash Flow Statement 18

Notes to the Consolidated Cash Flow Statement 19

Notes to the Consolidated Financial Statements 21


RTD CRAWFORD HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs M A Blakely
Mr R T D Crawford
Mr G R Crawford
Mr M T Crawford





REGISTERED OFFICE: 9 Drummeer Road
Faughard
LISBELLAW
Co. Fermanagh
BT94 5ES





REGISTERED NUMBER: NI676795 (Northern Ireland)





AUDITORS: McAleer Jackson Ltd
Chartered Accountants & Statutory Auditors
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their strategic report of the company and the group for the year ended 31 December 2023.

REVIEW OF BUSINESS
The financial results for the period are set out in the following pages and are considered by the directors to be satisfactory considering the volatility in raw material prices that prevailed in core business during the year.

The group continued to invest in chosen complimentary sectors during the year, as part of it's strategy to diversify the group's activities and to pursue opportunities for growth.

The directors continue to review all operations to ensure adequate and appropriate facilities are available to meet future demand and evolving market conditions.

The group remains committed to continued growth in the business through delivering quality products and services to its customers. The opportunities for further diversification of the group's operations continue to be considered and implemented by the directors.


RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

PRINCIPAL RISKS AND UNCERTAINTIES
The management and the execution of the group's strategy is subject to a number of risks. The key business risks and uncertainties affecting the group are considered to relate to competition in all of the sectors it operates, the impact of the wider economy on product demand and the ongoing sustainable supply of quality raw materials.

Supply chain and pricing challenges arising during the year and since the balance sheet date have had a significant impact on operations. The overall performance for the year demonstrated both the agility of our management team in responding at speed to emerging events, and to the strength of the group relationship with suppliers and customers.

Environment
The group recognises it responsibility to carry out all operations whilst minimising environmental impacts. The directors' continued aim is to comply with all applicable environmental legislation, prevent pollution and reduce waste wherever possible.

Health and Safety
The group is committed to achieving the highest practicable standards in health and safety management and strives to make its sites and offices safe environments for employees and customer alike.

Human resources
The group's staff are a key resource in the business. Their knowledge and experience enable the company to meet customer requirements, and retention of key staff is therefore important.

Financial risk management
The group's operations expose it to a variety of financial risks that include the effects of changes in, price risk, liquidity risk, foreign currency risk and credit risk.

Liquidity risk
The group actively maintains liquidity within its balance sheet to ensure that sufficient funds are available for operations and planned investment, as required.

Price risk
The group is exposed to commodity price risk as a result of its operations. However, given the size of the group's operations, the costs of managing exposure to commodity price risk exceed any potential benefits. The directors will revisit the appropriateness of this policy should the group's operations change in size or nature.

Foreign currency risk
The group manages exposure to foreign currency risk through the use of dedicated bank accounts denominated in foreign currencies to which receipts are lodged, and out of which payments are made. The directors monitor movements to the exchange rates on a regular basis, and trade funds when rates are favourable.

Credit risk
The group's credit risk is primarily attributable to its trade debtors, which is minimised by the number of long established customers and its emphasis on good credit management.


RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

KEY PERFORMANCE INDICATORS (KPIS)
Given the straightforward nature of the business, the group's directors are of the opinion that analysis using KPIs is not necessary for an understanding of the development, performance or position of the group.

ON BEHALF OF THE BOARD:





Mr R T D Crawford - Director


28 June 2024

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of importation, processing and manufacturing of timber products, farming and the provision of leisure and hospitality services.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

Mrs M A Blakely
Mr R T D Crawford
Mr G R Crawford
Mr M T Crawford

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


AUDITORS
The auditors, McAleer Jackson Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr R T D Crawford - Director


28 June 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RTD CRAWFORD HOLDINGS LTD

Opinion
We have audited the financial statements of RTD Crawford Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RTD CRAWFORD HOLDINGS LTD


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RTD CRAWFORD HOLDINGS LTD


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. We design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities is available on the FRC's website at: www.frc.org.uk/auditorsresponsiblities. This description forms part of our auditor's report.

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud and error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
- the nature of the industry and sector, control environment and business performance including the company's remuneration policies, and performance targets;
- results of our enquiries of management and other key persons about the company's own identification and assessment of the risks of irregularities, including those that may occur either as a result of fraud or error, and matters we identified from our review of the company's policies, procedures and internal controls; and
- the matters discussed among the audit engagement team regarding potential indicators of fraud and where it might occur in the financial statements.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, pensions and tax legislation, together with provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RTD CRAWFORD HOLDINGS LTD

From the above procedures, and in common with all audits under ISAs (UK), we identified journal adjustments as a key audit matter with respect to the potential risk of fraud, particularly in areas where management is required to exercise significant judgement.

We tailored our response to those identified risks to include enquiring of management and external legal advisors concerning actual and potential litigation and claims, performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, and reviewing correspondence with HMRC and other regulatory bodies.

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias, and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

Use of our report
This report is made solely to the group's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the group's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the group and the group's members as a body, for our audit work, for this report, for the opinions we have formed.




Michael Barnett (Senior Statutory Auditor)
for and on behalf of McAleer Jackson Ltd
Chartered Accountants & Statutory Auditors
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE

28 June 2024

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

TURNOVER 18,998,131 20,998,600

Cost of sales 15,250,019 16,592,973
GROSS PROFIT 3,748,112 4,405,627

Administrative expenses 1,378,686 1,790,333
2,369,426 2,615,294

Other operating income 375,304 362,468
OPERATING PROFIT 4 2,744,730 2,977,762

Profit/loss on sale of assets 5 1,438,597 392,836
4,183,327 3,370,598

Interest receivable and similar income 106,474 12,277
4,289,801 3,382,875

Interest payable and similar expenses 6 - 6,721
PROFIT BEFORE TAXATION 4,289,801 3,376,154

Tax on profit 7 764,917 435,542
PROFIT FOR THE FINANCIAL YEAR 3,524,884 2,940,612
Profit attributable to:
Owners of the parent 3,524,884 2,940,612

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 3,524,884 2,940,612


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

3,524,884

2,940,612

Total comprehensive income attributable to:
Owners of the parent 3,524,884 2,940,612

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

CONSOLIDATED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 15,714,260 14,547,325
Investments 11 - -
15,714,260 14,547,325

CURRENT ASSETS
Stocks 12 4,495,590 5,491,992
Debtors 13 3,025,381 3,900,431
Cash at bank and in hand 15,035,365 12,159,944
22,556,336 21,552,367
CREDITORS
Amounts falling due within one year 14 1,005,594 2,486,264
NET CURRENT ASSETS 21,550,742 19,066,103
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,265,002

33,613,428

CREDITORS
Amounts falling due after more than one
year

15

(1,696,528

)

(1,736,764

)

PROVISIONS FOR LIABILITIES 18 (431,776 ) (264,851 )
NET ASSETS 35,136,698 31,611,813

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

CONSOLIDATED BALANCE SHEET - continued
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 19 300 300
Retained earnings 20 35,136,398 31,611,513
SHAREHOLDERS' FUNDS 35,136,698 31,611,813


The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2024 and were signed on its behalf by:




Mr R T D Crawford - Director Mr M T Crawford - Director




Mr G R Crawford - Director Mrs M A Blakely - Director


RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

COMPANY BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 200 200
200 200

CURRENT ASSETS
Debtors 13 6,498,637 8,323,611
Cash at bank 7,501,463 1,676,489
14,000,100 10,000,100
NET CURRENT ASSETS 14,000,100 10,000,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,000,300

10,000,300

CAPITAL AND RESERVES
Called up share capital 19 300 300
Retained earnings 14,000,000 10,000,000
SHAREHOLDERS' FUNDS 14,000,300 10,000,300

Company's profit for the financial year 4,000,000 4,000,000

The financial statements have been prepared 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 28 June 2024 and were signed on its behalf by:



Mr R T D Crawford - Director Mr M T Crawford - Director



Mr G R Crawford - Director Mrs M A Blakely - Director


RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 300 28,670,901 28,671,201

Changes in equity
Total comprehensive income - 2,940,612 2,940,612
Balance at 31 December 2022 300 31,611,513 31,611,813

Changes in equity
Total comprehensive income - 3,524,884 3,524,884
Balance at 31 December 2023 300 35,136,397 35,136,697

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 300 6,000,000 6,000,300

Changes in equity
Total comprehensive income - 4,000,000 4,000,000
Balance at 31 December 2022 300 10,000,000 10,000,300

Changes in equity
Total comprehensive income - 4,000,000 4,000,000
Balance at 31 December 2023 300 14,000,000 14,000,300

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,553,994 4,687,655
Interest paid - (6,721 )
Tax paid (505,296 ) (682,337 )
Net cash from operating activities 4,048,698 3,998,597

Cash flows from investing activities
Purchase of tangible fixed assets (3,469,660 ) (3,602,026 )
Sale of tangible fixed assets 2,237,046 655,942
Interest received 106,474 12,277
Net cash from investing activities (1,126,140 ) (2,933,807 )

Cash flows from financing activities
Loan repayments in year (35,304 ) (29,520 )
Net hire purchase finance (11,833 ) (20,167 )
Net cash from financing activities (47,137 ) (49,687 )

Increase in cash and cash equivalents 2,875,421 1,015,103
Cash and cash equivalents at beginning
of year

2

12,159,944

11,144,841

Cash and cash equivalents at end of
year

2

15,035,365

12,159,944

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 4,289,801 3,376,154
Depreciation charges 1,504,276 1,195,317
Profit on disposal of fixed assets (1,438,597 ) (392,836 )
Finance costs - 6,721
Finance income (106,474 ) (12,277 )
4,249,006 4,173,079
Decrease in stocks 996,402 8,593
Decrease/(increase) in trade and other debtors 875,050 (198,069 )
(Decrease)/increase in trade and other creditors (1,566,464 ) 704,052
Cash generated from operations 4,553,994 4,687,655

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 15,035,365 12,159,944
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 12,159,944 11,144,841


RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 12,159,944 2,875,421 15,035,365
12,159,944 2,875,421 15,035,365
Debt
Finance leases (16,764 ) 11,833 (4,931 )
Debts falling due after 1 year (1,731,833 ) 35,305 (1,696,528 )
(1,748,597 ) 47,138 (1,701,459 )
Total 10,411,347 2,922,559 13,333,906

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

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

1. STATUTORY INFORMATION

RTD Crawford Holdings Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The consolidated financial statements include the financial statement of the holding company and all its subsidiary companies made up to 31 December 2023.

The transfer of the subsidiary shareholdings to the company has been accounted for in accordance with the principles of merger accounting method set out in Chapter 19 of FRS102 'Accounting and Reporting in the United Kingdom and Ireland.

Under the merger accounting method, the carrying values of the assets and liabilities of the parties to the combination are not required to be adjusted to fair value, although appropriate adjustments are made to achieve uniformity of accounting policies in the combining entities.

The results and cash flows of all the combining entities have been reported in the consolidated financial statements of the combined entity from the beginning of the financial year in which the combination occurred. The comparative information is restated to include the total comprehensive income for all the combining entities for the previous reporting period and their statement of financial position for the previous reporting date, adjusted as necessary to achieve uniformity of accounting policies.

The difference, if any, between the nominal value of the shares issued and the nominal value of the shares received in exchange is reported as a movement on reserves in the consolidated financial statements.

Significant judgements and estimates
When preparing the financial statements, the directors undertake a number of judgements/estimates and assumptions about the recognition and measurement of assets, liabilities, income and expenses. The following are significant management judgements in applying the accounting policies of the group that have the most significant effect on the financial statements.

Carrying value of stock
Stock is measured at the lower of cost and net realisable value. Net realisable value is the estimated selling price, less costs to complete and sell. A provision is made for obsolete and slow moving stock based on historical experience.

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. It is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land & buildings - 2% straight line and 0%
Plant and machinery - 20% straight line, 15% on reducing balance and 10% straight line
Fixtures and fittings - 10% straight line, At varying rates on cost and 15% - 25% straight line
Motor vehicles - 25% straight line

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.

The carrying values of tangible fixed assets are reviewed for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

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

Cost is defined as the expenditure which has been incurred in the normal course of business in bridging the product to its present location and condition. Net realisable value is the actual or estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distributing.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
The group's presentation currency is GBP ("sterling"). Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the consolidated income statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the consolidated income statement on a straight line basis over the period of the lease.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Pension costs
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the respective company. The annual contributions payable are charged to the consolidated income statement.

Grant income
Grants related to expenditure are credited to the consolidated income statement as the expenditure is incurred.

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 849,867 798,236
Social security costs 81,255 74,904
Other pension costs 24,055 582,844
955,177 1,455,984

The average number of employees during the year was as follows:
2023 2022

Production 18 20
Sales & distribution 4 4
Administration 4 1
26 25

2023 2022

Directors' remuneration 96,644 85,517
Directors' pension 2,614 561,486
99,258 647,003


RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Other operating leases 149,628 119,530
Depreciation - owned assets 1,504,276 1,195,317
Profit on disposal of fixed assets - (8,051 )
Profit/loss on foreign currencies - 36,263
Auditors' remuneration 19,500 18,000

5. EXCEPTIONAL ITEMS
2023 2022
£    £   
Profit/loss on sale of assets 1,438,597 392,836

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest - 6,721

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 597,992 452,578

Deferred tax 166,925 (17,036 )
Tax on profit 764,917 435,542

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 4,289,801 3,376,154
Profit multiplied by the standard rate of corporation tax in the UK of
23.520 % (2022 - 19 %)

1,008,961

641,469

Effects of:
Expenses not deductible for tax purposes 235 190
Depreciation on non-qualifying items 15,173 12,257
Changes in tax rates (4,457 ) (1,022 )
Adjustments to tax charge in respect of previous periods - (217,352 )
Other allowable deductions (254,995 ) -
Total tax charge 764,917 435,542

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 5
AMORTISATION
At 1 January 2023
and 31 December 2023 5
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Land & Plant and and Motor
buildings machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 14,137,236 11,048,679 217,740 463,377 25,867,032
Additions 1,268,410 2,133,636 1,173 66,441 3,469,660
Disposals (1,100,865 ) (349,096 ) - (52,455 ) (1,502,416 )
At 31 December 2023 14,304,781 12,833,219 218,913 477,363 27,834,276
DEPRECIATION
At 1 January 2023 2,247,614 8,494,815 170,285 406,993 11,319,707
Charge for year 133,391 1,312,182 13,900 44,803 1,504,276
Eliminated on disposal (414,916 ) (236,596 ) - (52,455 ) (703,967 )
At 31 December 2023 1,966,089 9,570,401 184,185 399,341 12,120,016
NET BOOK VALUE
At 31 December 2023 12,338,692 3,262,818 34,728 78,022 15,714,260
At 31 December 2022 11,889,622 2,553,864 47,455 56,384 14,547,325

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 200
NET BOOK VALUE
At 31 December 2023 200
At 31 December 2022 200

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

R.T.D. Crawford Limited
Registered office: 9 Drummeer Road, Faughard, Lisbellaw, Co. Fermanagh, BT94 5ES
Nature of business: Manufacture of timber products
%
Class of shares: holding
Ordinary 100.00

Crawfords Marina Ltd
Registered office: 1 Derryharney Road Aghnacarra, Lisbellaw, Enniskillen, Co. Fermanagh, BT94 5HW
Nature of business: Sale of marine equipment and related goods
%
Class of shares: holding
Ordinary 100.00

Dooneen Farms Ltd
Registered office: 10 Lunnon Road, Islandmagee, Co. Antrim, BT40 3TH
Nature of business: Farming
%
Class of shares: holding
Ordinary 100.00


12. STOCKS

Group
2023 2022
£    £   
Stocks 4,495,590 5,491,992

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

13. DEBTORS

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year:
Trade debtors 2,330,829 2,460,792 - -
Other debtors 3,311 - - -
VAT - 432,627 - -
Prepayments 691,241 1,007,012 - -
Sundry debtors - - - 4,000,000
3,025,381 3,900,431 - 4,000,000

Amounts falling due after more than one year:
Amounts owed by group undertakings - - 6,498,637 4,323,611

Aggregate amounts 3,025,381 3,900,431 6,498,637 8,323,611

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2023 2022
£    £   
Hire purchase contracts (see note 17) 4,931 11,833
Trade creditors 223,423 1,859,153
Corporation tax 309,952 217,256
Social security and other taxes 32,695 31,292
VAT 143,651 -
Accruals 290,942 366,730
1,005,594 2,486,264

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group
2023 2022
£    £   
Other loans (see note 16) 1,696,528 1,731,833
Hire purchase contracts (see note 17) - 4,931
1,696,528 1,736,764

16. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Directors loan 1,696,528 1,731,833

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 4,931 11,833
Between one and five years - 4,931
4,931 16,764

18. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 431,776 264,851

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

18. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 January 2023 264,851
Provided during year 166,925
Balance at 31 December 2023 431,776

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
300 Ordinary £1 300 300

20. RESERVES

Group
Retained
earnings
£   

At 1 January 2023 31,611,514
Profit for the year 3,524,884
At 31 December 2023 35,136,398


21. ULTIMATE PARENT COMPANY

RTD Crawford Holdings Ltd is under the ultimate control of Mr R T D Crawford.

22. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - 750,000

RTD CRAWFORD HOLDINGS LTD (REGISTERED NUMBER: NI676795)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

23. 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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Derrygiff Farm is an enterprise under the control of Mr Garreth Crawford. During the year the group supplied goods of £197,460 to Derrygiff Farm. No balances were due to or from Derrygiff Farm at the balance sheet date.

24. RECLASSIFICATION

Certain prior year amounts have been reclassified for consistency with current year presentation. These reclassifications had no effect on the reported results of the operations.