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REGISTERED NUMBER: 13589576 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

REALTERM EUROPE MANAGEMENT UK LIMITED

REALTERM EUROPE MANAGEMENT UK LIMITED (REGISTERED NUMBER: 13589576)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REALTERM EUROPE MANAGEMENT UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: Mr R G Fordi
Mr D A Pickett
Mr L J Powell
Mr A M Sacks
Mr J P Underwood





Secretary: Vistra Cosec Limited





Registered office: 7th Floor
50 Broadway
London
SW1H 0DB





Registered number: 13589576 (England and Wales)





Auditors: WD Audit Limited (Statutory Auditor)
5th Floor
111 Charterhouse Street
London
EC1M 6AW

REALTERM EUROPE MANAGEMENT UK LIMITED (REGISTERED NUMBER: 13589576)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,042 2,389

CURRENT ASSETS
Debtors 5 610,061 114,380
Cash at bank 113,455 63,637
723,516 178,017
CREDITORS
Amounts falling due within one year 6 (783,250 ) (357,196 )
NET CURRENT LIABILITIES (59,734 ) (179,179 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(52,692

)

(176,790

)

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 (52,693 ) (176,791 )
SHAREHOLDERS' FUNDS (52,692 ) (176,790 )

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 21 September 2024 and were signed on its behalf by:





Mr J P Underwood - Director


REALTERM EUROPE MANAGEMENT UK LIMITED (REGISTERED NUMBER: 13589576)

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

1. STATUTORY INFORMATION

Realterm Europe Management UK Limited 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 company's functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

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.

Turnover
Turnover is derived from recharged expenses to the parent company and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 33 % on cost

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

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 initially recognised at transaction price.

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.


REALTERM EUROPE MANAGEMENT UK LIMITED (REGISTERED NUMBER: 13589576)

NOTES TO THE 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company had net current liabilities at the balance sheet date. The financial statements have been prepared using the going concern basis due to the ongoing support it receives from other companies within the group. The group will not require repayment of the loans until the company is in a position to settle these.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 January 2023 4,096
Additions 6,372
At 31 December 2023 10,468
Depreciation
At 1 January 2023 1,707
Charge for year 1,719
At 31 December 2023 3,426
Net book value
At 31 December 2023 7,042
At 31 December 2022 2,389

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Amounts owed by group undertakings 536,377 93,817
Other debtors 73,684 20,563
610,061 114,380

REALTERM EUROPE MANAGEMENT UK LIMITED (REGISTERED NUMBER: 13589576)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 42,728 2,030
Amounts owed to group undertakings 63,510 204,531
Taxation and social security - 8,417
Other creditors 677,012 142,218
783,250 357,196

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/23 31/12/22
£    £   
Within one year 17,250 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
1 Ordinary 1 1 1

9. RESERVES
Retained
earnings
£   

At 1 January 2023 (176,791 )
Profit for the year 124,098
At 31 December 2023 (52,693 )

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Roy Davis FCA (Senior Statutory Auditor)
for and on behalf of WD Audit Limited (Statutory Auditor)

11. RELATED PARTY DISCLOSURES

The total revenue deriving from the service agreement is:
£1,294,231 (2022: £484,468) with RLF AM LLC.

At the balance sheet date the following related party was included within other debtors:
RLF AM, LLC. - £536,377 (2022 - £93,817).

At the balance sheet date the following related parties were included within creditors:
Realterm US Inc. - £62,375 (2022 - £204,531).
Realterm Europe Management Coop U.A. - £775 (2022 - £Nil).

12. ULTIMATE CONTROLLING PARTY

The controlling party is Realterm Pship Holdings, LLC. The immediate parent is Realterm Europe Logistics Holdings, LLC. Both Realterm Pship Holdings LLC and Realterm Europe Logistics Holdings LLC are registered in the United States. The registered address is 201 West Street, Annapolis, 21401, MD, United States.