| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| RS GLOBAL LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| RS GLOBAL LIMITED |
| RS GLOBAL LIMITED (REGISTERED NUMBER: 05833038) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| RS GLOBAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| t/a Sterling |
| Chartered Accountants |
| 505 Pinner Road |
| Harrow |
| Middlesex |
| HA2 6EH |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| RS GLOBAL LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RS Global Limited for the year ended 31 March 2025 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of RS Global Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of RS Global Limited and state those matters that we have agreed to state to the Board of Directors of RS Global Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RS Global Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that RS Global Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of RS Global Limited. You consider that RS Global Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of RS Global Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| t/a Sterling |
| Chartered Accountants |
| 505 Pinner Road |
| Harrow |
| Middlesex |
| HA2 6EH |
| RS GLOBAL LIMITED (REGISTERED NUMBER: 05833038) |
| BALANCE SHEET |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| RS GLOBAL LIMITED (REGISTERED NUMBER: 05833038) |
| BALANCE SHEET - continued |
| 31 MARCH 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| RS GLOBAL LIMITED (REGISTERED NUMBER: 05833038) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| RS Global Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Revenue recognition |
| Revenue from electronics and telecommunications equipment's recognised when the goods are delivered to the customer. |
| Bad debts provisioning |
| At the end of each reporting period, the Company assesses trade debtors for impairment and creates a provision for doubtful debts equal to 100% of debts which are more than 12 months old. A specific bad debt provision is created for debtors which have gone for liquidation or the management has information about closure of business of such debtors. |
| Tangible fixed assets |
| Improvements to property | - |
| Computer equipment | - |
| 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. |
| RS GLOBAL LIMITED (REGISTERED NUMBER: 05833038) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 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. |
| No deferred tax asset has been created on current year's trading losses as the same relate to charge for VAT assessment claim. Refer note 5 for details regarding VAT assessment claim. |
| Foreign currencies |
| Transactions denominated in foreign currencies for sales and purchases are translated at the average exchange rate, published by HMRC, of the period in which transactions have occured. This policy is followed to avoid daily fluctuations between GBP and EUR as majority of transactions are in EUR. |
| Foreign currency monetary assets and liabilities held at the end of the reporting period are translated at the closing balance sheet rate. The resulting exchange gain or loss is recognised within the income statement. |
| Purchase recognition |
| Purchases of electronic and telecommunication equipment are recognised on the date of receipt of goods at the warehouse of the company. |
| Freight and insurance charges |
| Freight and insurance charges related to purchased goods are recognised at 0.55% of annual export turnover. Company benefits from the Head Office terms agreed with various vendors globally hence charge is based on inter-company agreement. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| RS GLOBAL LIMITED (REGISTERED NUMBER: 05833038) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Computer |
| property | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | DEBTORS |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by related companies | 4,456,213 | 4,251,666 |
| Other debtors |
| VAT |
| Amounts falling due after more than one year: |
| Amounts owed by related companies | 2,240,522 | 2,240,522 |
| Aggregate amounts |
| Amount owed by related parties includes, loan given to Krishna International FZCO, a related party, at an interest rate of 6% p.a., repayable in December 2031. |
| RS GLOBAL LIMITED (REGISTERED NUMBER: 05833038) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Amounts owed to related companies | 160,471 | 160,471 |
| Other creditors |
| Directors' current accounts | 634 | 1,604 |
| Accrued expenses |
| 7. | CONTINGENT LIABILITIES |
| The Commissioner of HM Revenue and Customs in December 2020 has issued penalty assessments i.r.o. 23 VAT returns it lodged for tax periods December 2017 to November 2019 amounting to £1.46M. The review decision by HMRC in May 2021, upheld it's earlier decision of imposing penalty. |
| Though there is a provision created on the HMRC VAT claim, no provision has been created on the penalties as it's obligation completely depends on the success of the appeal. Management has decided to continue the disclosure of the penalty as a contingent liability till the outcome of it's appeal. |
| 8. | RELATED PARTY DISCLOSURES |
| Transactions executed during the year with related parties were: |
| Sales to RS GLobal B.V., a related party, amounted to £53,045 (2024: 2.25M). Further, interest and management fee of £ 192,421 respectively, have been received from RS Global BV. |
| The following balances were owed (to)/from the related parties: |
| 2025 | 2024 |
| £ | £ |
| Krishna International FZCO (related party) | 4,003,226 | 3,860,954 |
| RS GLobal BV. (related party) | 2,649,635 | 2,631,234 |
| Logix one FZE (related party) | (160,471 | ) | (160,471 | ) |
| RS Global Fzc LLC | 43,874 |
| 6,536,264 | 5,887,757 |