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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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RW Invest North Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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RW Invest North Ltd |
RW Invest North Ltd (Registered number: 10237041) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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RW Invest North Ltd |
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Company Information |
for the Year Ended 31 March 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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44 The Pantiles |
Tunbridge Wells |
Kent |
TN2 5TN |
RW Invest North Ltd (Registered number: 10237041) |
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Balance Sheet |
31 March 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
RW Invest North Ltd (Registered number: 10237041) |
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Balance Sheet - continued |
31 March 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
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RW Invest North Ltd (Registered number: 10237041) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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RW Invest North Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The functional and presentational currency of the company is pounds sterling. Monetary amounts in these |
financial statements are rounded to the nearest £1, except where otherwise indicated. |
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Going concern |
After reviewing the company's forecasts and projections, the members have a reasonable expectation that the |
company has adequate resources to continue in operational existence for the foreseeable future. The company |
therefore continues to adopt the going concern basis in preparing its financial statements. |
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Preparation of consolidated financial statements |
The financial statements contain information about RW Invest North Ltd as an individual company and do not |
contain consolidated financial information as the parent of a group. The company is exempt under Section |
399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
including expectations of future events that are believed to be reasonable under the circumstances. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. Turnover from the supply of services represents the value of services |
provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the |
consideration received or receivable. |
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Other income |
Interest income, including income arising from finance leases and other financial instruments, is recognised using |
the effective interest method. |
RW Invest North Ltd (Registered number: 10237041) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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The carrying values of tangible fixed assets are reviewed for impairment when events or changes in |
circumstances indicate the carrying value may not be recoverable. |
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Impairment of assets |
Fixed assets are reviewed at each reporting date to determine whether there is any indication that those assets |
have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any |
affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the |
carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised |
immediately in profit or loss. |
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If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate |
of its recoverable amount, but not in excess of the amount that would have been determined had no impairment |
loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in |
profit or loss. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Debtors and creditors receivable/payable in one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in |
administrative expenses. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company contributes to personal pension schemes and the pension charge represents the amounts payable by |
the company to the funds in respect of the year. |
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Provision for liabilities |
Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past |
event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be |
made of the amount of the obligation. |
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The amount recognised as a provision is the best estimate of the consideration required to settle the present |
obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the |
obligation. |
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Dividends |
Dividends are recognised as liabilities once they are no longer at the discretion of the company. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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RW Invest North Ltd (Registered number: 10237041) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Amounts owed by participating interests | 496,952 | - |
Other debtors |
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RW Invest North Ltd (Registered number: 10237041) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.19 | 31.3.18 |
value: | £ | £ |
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Ordinary | £1 | 3 | 3 |
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9. | RELATED PARTY DISCLOSURES |
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As at the balance sheet date £nil (2018: £2,250) was owing to group companies and included in trade creditors. |
Also owing was £nil (2018: £190,000) to group companies and included in creditors falling due within one year. |
The loan was interest free and repayable on demand. |
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As at the balance sheet date £106,781 (2018: £795) was owed from group companies and included in debtors |
falling due within one year. The amount is interest free and repayable on demand. |
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As at the balance sheet date £496,952 (2018: £69) was owed from participating interests and included in debtors |
falling due within one year. The amount is interest free and repayable on demand. |
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As at the balance sheet date £125,000 (2018: £nil) was due from entities connected to key management |
personnel. The loans are interest free and repayable on demand. |
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10. | CONTROLLING PARTY |
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The company is immediately controlled by R W Invest Holdings Limited but has no ultimately controlling party. |