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REGISTERED NUMBER: 03735878 (England and Wales)















RFMW UK LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






RFMW UK LTD (REGISTERED NUMBER: 03735878)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


RFMW UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B J Skipper
J I Levine
P F Saxby
S W Takaki
C Murton
W Carroll



SECRETARY: C Murton



REGISTERED OFFICE: Marlin Building
4 Sadler Road
Lincoln
Lincolnshire
LN6 3RS



REGISTERED NUMBER: 03735878 (England and Wales)



SENIOR STATUTORY AUDITOR: Tara Bellamy FCA



AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

RFMW UK LTD (REGISTERED NUMBER: 03735878)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,184,522 -

CURRENT ASSETS
Inventories 352,598 310,201
Debtors 5 4,491,775 2,813,152
Cash at bank and in hand 1,338,439 1,470,558
6,182,812 4,593,911
CREDITORS
Amounts falling due within one year 6 3,141,199 769,529
NET CURRENT ASSETS 3,041,613 3,824,382
TOTAL ASSETS LESS CURRENT LIABILITIES 4,226,135 3,824,382

CAPITAL AND RESERVES
Called up share capital 7 1,875 1,875
Share premium 8 45,990 45,990
Capital redemption reserve 8 1,190 1,190
Retained earnings 8 4,177,080 3,775,327
SHAREHOLDERS' FUNDS 4,226,135 3,824,382

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





B J Skipper - Director


RFMW UK LTD (REGISTERED NUMBER: 03735878)

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

1. STATUTORY INFORMATION

RFMW UK 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.

Preparation of consolidated financial statements
The financial statements contain information about RFMW UK Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, TTI Inc, 2441 Northeast Parkway, Fort Worth, Texas, 76106-1816.

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

Revenue from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and 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 statement of financial position 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 the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

RFMW UK LTD (REGISTERED NUMBER: 03735878)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

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 the income statement in the period to which they relate.

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

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2022 - 26 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 1,184,522
At 31 December 2023 1,184,522
NET BOOK VALUE
At 31 December 2023 1,184,522

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Braemac Limited
Registered office: Braemac House, 1 Mandarin Court, Centre Park, Warrington, Cheshire, WA1 1GG
Nature of business: Sale of telecommunications parts
%
Class of shares: holding
Ordinary 100.00

The shares in Braemac Ltd were acquired by RFMW UK on 1 January 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,853,202 1,585,557
Amounts owed by group undertakings 2,632,176 1,222,325
Other debtors 6,397 5,270
4,491,775 2,813,152

Amounts owed by group undertakings that are due within one year are unsecured and are repayable on demand.

RFMW UK LTD (REGISTERED NUMBER: 03735878)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 343,861 133,117
Amounts owed to group undertakings 1,934,947 83
Taxation and social security 590,170 481,095
Other creditors 272,221 155,234
3,141,199 769,529

Amounts owed to group undertakings that are due within one year are unsecured and are repayable on demand.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,875 Ordinary shares 1 1,875 1,875

8. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 January 2023 3,775,327 45,990 1,190 3,822,507
Profit for the year 401,753 401,753
At 31 December 2023 4,177,080 45,990 1,190 4,224,260

a) Retained earnings
The retained earnings account represents cumulative profits and losses net of dividends and other adjustments.

b) Share premium
The share premium account represents the premium arising on the issue of shares net of issue costs.

c) Capital redemption reserve
The capital redemption reserve is a non-distributable reserve into which amounts are paid following a redemption or share buyback.

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

The Report of the Auditors was unqualified.

Tara Bellamy FCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

10. ULTIMATE PARENT COMPANY

The ultimate parent company is TTI Inc, a company incorporated in the United States of America.

Consolidated accounts are prepared for TTI Inc and its registered address is:

2441 Northeast Parkway
Fort Worth
Texas
76106-1816