Company registration number 13849101 (England and Wales)
RM Holdings Overseas Private Limited
Audited Financial Statements
For the year ended
31 March 2024
Pages for filing with registrar
RM Holdings Overseas Private Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
RM Holdings Overseas Private Limited
Statement Of Financial Position
As at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
292,500
-
0
Current assets
Debtors
5
-
0
1,000
Cash at bank and in hand
57,500
-
0
57,500
1,000
Creditors: amounts falling due within one year
6
(21,270)
-
0
Net current assets
36,230
1,000
Net assets
328,730
1,000
Capital and reserves
Called up share capital
350,000
1,000
Profit and loss reserves
(21,270)
-
0
Total equity
328,730
1,000

The notes on pages 2 to 5 form part of these financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 25 March 2025 and are signed on its behalf by:
L.G. Young
Director
Company registration number 13849101 (England and Wales)
RM Holdings Overseas Private Limited
Notes To The Financial Statements
For the year ended 31 March 2024
- 2 -
1
General information

RM Holdings Overseas Private Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, 53/54 Grosvenor Street, London, W1K 3HU.

2
Accounting policies
2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and have assurances from group companies that liabilities will be settled and support provided as required. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3
Fixed asset investments

Interests in associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

2.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

2.5
Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

 

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Fair value measurement of financial instruments

Convertible bonds held in subsidiaries, associates and jointly controlled entities are other financial instruments, initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

RM Holdings Overseas Private Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2024
2
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.

 

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.

2.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

3
Employees

There were no employees in the current year and preceding period.

4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2,500
-
0
Loans to group undertakings and participating interests
290,000
-
0
292,500
-
0
Movements in fixed asset investments
Shares in associates
Loans to associates
Total
£
£
£
Cost or valuation
At 1 April 2023
-
-
-
Additions
2,500
290,000
292,500
At 31 March 2024
2,500
290,000
292,500
Carrying amount
At 31 March 2024
2,500
290,000
292,500
At 31 March 2023
-
-
-
RM Holdings Overseas Private Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2024
4
Fixed asset investments
(Continued)
- 4 -

The loans to associates are in the form of a convertible bond. The amount is unsecured, interest free and repayable at any time up to 4 August 2028 at the option of the bond holder. The bonds are convertible into shares at the option of the bond holder at any time in the period to 4 August 2028 and will be mandatorily converted on this date if the bonds are not redeemed in this period.

 

On conversion, sufficient shares will be issued at fair market value to discharge the payment obligations towards the convertible bond. Consequently, the fair value of the bonds is considered to be the amount outstanding under the terms of the bond.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
0
1,000
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
8,100
-
0
Other creditors
13,170
-
0
21,270
-
0
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Julia Wigram FCA
Statutory Auditor:
Dixcart International Limited
Date of audit report:
26 March 2025
RM Holdings Overseas Private Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2024
- 5 -
8
Related party transactions

At the balance sheet date the company was owed £290,000 (2023 - £Nil) in the form of convertible bonds by a company in which it has a participating interest as included in note 4.

 

This amount is unsecured, interest free and is repayable at any time up to 4 August 2028 at the option of the bond holder. The bonds are convertible into shares at the option of the bond holder at any time in the period to 4 August 2028 and will be mandatorily converted on this date if the bonds are not redeemed in this period.

9
Parent company

The parent company is Bharti (RM) Holdings Private Limited, incorporated in India with registered office at Airtel Centre, Plot No 16, Udyog Vihar, Phase IV, Gurugram, Palam Road, Gurgaon, Palam Road, Haryana, India, 122015. It is also the parent of the smallest group for which consolidated accounts including RM Holdings Overseas Private Limited are drawn up, and copies of these accounts can be obtained from its registered office.

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