Company registration number 03623235 (England and Wales)
RKW LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
RKW LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
RKW LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,216,222
-
0
Current assets
Debtors
5
434,248
-
0
Cash at bank and in hand
17,033
-
0
451,281
-
0
Creditors: amounts falling due within one year
6
(1,921,276)
-
0
Net current liabilities
(1,469,995)
-
0
Total assets less current liabilities
(253,773)
-
0
Creditors: amounts falling due after more than one year
7
(187,500)
-
0
Net liabilities
(441,273)
-
0
Capital and reserves
Called up share capital
6,790,398
6,790,398
Capital contributions
352,244
352,244
Profit and loss reserves
(7,583,915)
(7,142,642)
Total equity
(441,273)
-
0

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered 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 3 July 2025 and are signed on its behalf by:
Mr J R Specht
Director
Company Registration No. 03623235
RKW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

RKW Limited is a private company, limited by shares, incorporated in England and Wales. The registered office is 64 Hagley Road, Birmingham, United Kingdom, B16 8PF.

1.1
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. The principal accounting policies adopted are set out below.

1.2
Going concern

After taking into account the economic conditions, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Spearmint Rhino Companies Worldwide continues to be supportive of the company and its business. The company therefore continues to adopt the going concern basis in preparing its financial statements.true

1.3
Turnover

Turnover represents rental income earned in the year calculated on an accruals basis and excludes VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
4% straight line basis
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand,

1.6
Financial instruments
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 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. Financial assets classified as receivable within one year are not amortised.

RKW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
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.

RKW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation and residual values

The directors have reviewed the asset lives and associated residual values of all fixed asset classes and have concluded them to be appropriate.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2024
-
0
Additions
1,240,226
At 31 December 2024
1,240,226
Depreciation and impairment
At 1 January 2024
-
0
Depreciation charged in the year
24,004
At 31 December 2024
24,004
Carrying amount
At 31 December 2024
1,216,222
At 31 December 2023
-
0
RKW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
105,000
-
0
Other debtors
329,248
-
0
434,248
-
0
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
92,606
-
0
Amounts owed to group undertakings
1,385,930
-
0
Other creditors
442,740
-
0
1,921,276
-
0
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
187,500
-
0
8
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 was unqualified.

Senior Statutory Auditor:
Paul Creasey
Statutory Auditor:
Azets Audit Services
9
Financial commitments, guarantees and contingent liabilities

At the year end the company is party to a cross guarantee with members of its group headed by Spearmint Rhino Ventures (UK) Limited and associated group headed by Spearmint Rhino JSUK Limited. In the event of the cross guarantee being enforced the company is contingently liable for the amounts due to the bank at that time. The directors do not expect this liability to crystallise in the foreseeable future.

RKW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
500,000
-
0
Between two and five years
2,000,000
-
0
In over five years
9,724,658
-
0
12,224,658
-
0
11
Ultimate controlling party

The immediate parent company is Spearmint Rhino Ventures (UK) Limited, a company incorporated in England and Wales. The registered office is 64 Hagley Road, Birmingham, B16 8PF.

 

The ultimate controlling party is The Gray Family Trust.

12
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.

2024-12-312024-01-01falsefalsefalse14 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMs K J VercherMr J R SpechtSpearmint Rhino Secretarial Services Limited036232352024-01-012024-12-31036232352024-12-31036232352023-12-3103623235core:LandBuildings2024-12-3103623235core:LandBuildings2023-12-3103623235core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3103623235core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3103623235core:Non-currentFinancialInstrumentscore:AfterOneYear2024-12-3103623235core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3103623235core:CurrentFinancialInstruments2024-12-3103623235core:CurrentFinancialInstruments2023-12-3103623235core:ShareCapital2024-12-3103623235core:ShareCapital2023-12-3103623235core:OtherMiscellaneousReserve2024-12-3103623235core:OtherMiscellaneousReserve2023-12-3103623235core:RetainedEarningsAccumulatedLosses2024-12-3103623235core:RetainedEarningsAccumulatedLosses2023-12-3103623235bus:Director22024-01-012024-12-3103623235core:LandBuildingscore:LongLeaseholdAssets2024-01-012024-12-31036232352023-01-012023-12-3103623235core:LandBuildings2023-12-3103623235core:LandBuildings2024-01-012024-12-3103623235core:WithinOneYear2024-12-3103623235core:WithinOneYear2023-12-3103623235core:Non-currentFinancialInstruments2024-12-3103623235core:Non-currentFinancialInstruments2023-12-3103623235core:BetweenTwoFiveYears2024-12-3103623235core:BetweenTwoFiveYears2023-12-3103623235core:MoreThanFiveYears2024-12-3103623235core:MoreThanFiveYears2023-12-3103623235bus:PrivateLimitedCompanyLtd2024-01-012024-12-3103623235bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3103623235bus:FRS1022024-01-012024-12-3103623235bus:Audited2024-01-012024-12-3103623235bus:Director12024-01-012024-12-3103623235bus:CompanySecretary12024-01-012024-12-3103623235bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP