Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-212024-05-312023-06-01truefalseThe principal activity of the company is that of an investment company.33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10788067 2023-06-01 2024-05-31 10788067 2022-06-01 2023-05-31 10788067 2024-05-31 10788067 2023-05-31 10788067 c:Director1 2023-06-01 2024-05-31 10788067 c:Director2 2023-06-01 2024-05-31 10788067 c:Director2 2024-05-31 10788067 c:Director3 2023-06-01 2024-05-31 10788067 c:Director3 2024-05-31 10788067 c:RegisteredOffice 2023-06-01 2024-05-31 10788067 d:MotorVehicles 2023-06-01 2024-05-31 10788067 d:MotorVehicles 2024-05-31 10788067 d:MotorVehicles 2023-05-31 10788067 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10788067 d:OfficeEquipment 2023-06-01 2024-05-31 10788067 d:OfficeEquipment 2024-05-31 10788067 d:OfficeEquipment 2023-05-31 10788067 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10788067 d:ComputerEquipment 2023-06-01 2024-05-31 10788067 d:ComputerEquipment 2024-05-31 10788067 d:ComputerEquipment 2023-05-31 10788067 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10788067 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10788067 d:CurrentFinancialInstruments 2024-05-31 10788067 d:CurrentFinancialInstruments 2023-05-31 10788067 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 10788067 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10788067 d:ShareCapital 2024-05-31 10788067 d:ShareCapital 2023-05-31 10788067 d:RetainedEarningsAccumulatedLosses 2024-05-31 10788067 d:RetainedEarningsAccumulatedLosses 2023-05-31 10788067 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-05-31 10788067 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-05-31 10788067 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 10788067 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 10788067 c:OrdinaryShareClass1 2023-06-01 2024-05-31 10788067 c:OrdinaryShareClass1 2024-05-31 10788067 c:OrdinaryShareClass1 2023-05-31 10788067 c:FRS102 2023-06-01 2024-05-31 10788067 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10788067 c:FullAccounts 2023-06-01 2024-05-31 10788067 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10788067 2 2023-06-01 2024-05-31 10788067 6 2023-06-01 2024-05-31 10788067 1 2024-05-31 10788067 2 2024-05-31 10788067 1 2023-05-31 10788067 2 2023-05-31 10788067 f:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10788067









RJL CARLTON LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
RJL CARLTON LIMITED
 
 
COMPANY INFORMATION


Directors
R Al-Abdali 
J Jameel (appointed 1 June 2024)
R Catherwood Smith (resigned 21 May 2024)




Registered number
10788067



Registered office
Eighth Floor
6 New Street Square

London

EC4A 3AQ




Accountants
Rawlinson & Hunter LLP
Chartered Accountants

Eighth Floor

6 New Street Square

New Fetter Lane

London

EC4A 3AQ





 
RJL CARLTON LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 11


 
RJL CARLTON LIMITED
REGISTERED NUMBER: 10788067

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
82,295
104,185

Investments
 5 
15,573,682
19,208,013

  
15,655,977
19,312,198

Current assets
  

Debtors: amounts falling due within one year
 6 
9,181,657
9,966,118

Cash at bank and in hand
 7 
949,842
2,768,237

  
10,131,499
12,734,355

Creditors: amounts falling due within one year
 8 
(22,189,967)
(30,519,534)

Net current liabilities
  
 
 
(12,058,468)
 
 
(17,785,179)

Total assets less current liabilities
  
3,597,509
1,527,019

Provisions for liabilities
  

Deferred tax
 10 
(398,083)
(162,456)

  
 
 
(398,083)
 
 
(162,456)

Net assets
  
3,199,426
1,364,563


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
  
3,199,425
1,364,562

  
3,199,426
1,364,563


Page 1

 
RJL CARLTON LIMITED
REGISTERED NUMBER: 10788067
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

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 profit and loss account 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 by: 




R Al-Abdali
Director

Date: 14 February 2025

The notes on pages 4 to 12 form part of these financial statements.

Page 2

 
RJL CARLTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

RJL Carlton Limited is a private company, limited by shares, incorporated in England and Wales with registration number of 10788067. The registered office is Eighth Floor, 6 New Street Square, London, EC4A 3AQ.

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

Going concern

The financial statements have been prepared on a going concern basis assuming the continued support of the sole shareholder who has confirmed her intention to provide such financial support as is necessary for the company to continue in operation for the foreseeable future and for a period of at least twelve months from the date of signing of the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
RJL CARLTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue comprises income received from listed investments, dividends and realised gains and losses arising on the revaluation of listed investments. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliabily measured. Revenue is measured as the fair value of the consideration received or receivable. 

 
2.5

Interest income

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

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

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 balance sheet 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 balance sheet 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 balance sheet date.

Page 4

 
RJL CARLTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.8

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, using the straight-line method.

The estimated useful lives range as follows:

Motor vehicles
-
5
years
Office equipment
-
3
years
Computer equipment
-
3
years

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

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.

 
2.11

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

 
RJL CARLTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

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.

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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual
Page 6

 
RJL CARLTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)

interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 7

 
RJL CARLTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2023
120,100
1,245
6,360
127,705



At 31 May 2024

120,100
1,245
6,360
127,705



Depreciation


At 1 June 2023
18,015
726
4,779
23,520


Charge for the year on owned assets
20,417
415
1,058
21,890



At 31 May 2024

38,432
1,141
5,837
45,410



Net book value



At 31 May 2024
81,668
104
523
82,295



At 31 May 2023
102,085
519
1,581
104,185

Page 8

 
RJL CARLTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Unlisted investments
Total

£
£
£
£



Cost or valuation


At 1 June 2023
1
19,088,241
119,771
19,208,013


Additions
-
31,129,625
532,220
31,661,845


Disposals
-
(36,423,917)
(129,529)
(36,553,446)


Foreign exchange movement
-
(87,535)
(4,513)
(92,048)


Revaluations
-
1,349,318
-
1,349,318



At 31 May 2024
1
15,055,732
517,949
15,573,682






Net book value



At 31 May 2024
1
15,055,732
517,949
15,573,682



At 31 May 2023
1
19,088,241
119,771
19,208,013

The cost of listed investments at 31 May 2024 was £13,678,334 (2023 - £18,972,626), and the cost of unlisted investments at 31 May 2024 was £510,484 (2023 - £107,794)


6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
9,181,657
9,966,118

9,181,657
9,966,118


Amounts owed by group undertakings relates to a loan which is unsecured, repayable on demand and
with 5% interest charged annually from 1st June 2023 (interest was previously charged at 2% above the
Bank of England base rate charged annually).


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
949,842
2,768,237


Page 9

 
RJL CARLTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
7,245
3,830

Corporation tax
139,325
193,568

Other taxation and social security
2,358
1,413

Other creditors
22,027,529
30,308,423

Accruals and deferred income
13,510
12,300

22,189,967
30,519,534


Other creditors of £22,027,272 relates to a loan from the sole shareholder. 


9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
16,005,574
21,856,478




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand and listed investments.


10.


Deferred taxation




2024


£






At beginning of year
(162,456)


Charged to profit or loss
(235,627)



At end of year
(398,083)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(398,083)
(162,456)

Page 10

 
RJL CARLTON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1
1
1



12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. The pension cost charge
represents contributions payable by the company to the fund. Contributions totalling £257 (
2023 - £257) were payable to the fund at the balance sheet date and are included in creditors.


13.Other financial commitments

The total amount of financial commitments not included in the balance sheet as at 31 May 2024 is £502,724 (2023 - Nil). This amount relates to future commitments in relation to the unlisted investments shown in Note 5.

 
Page 11