RACINE RAILROAD PRODUCTS UK LIMITED

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  Negative shareholders' funds

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102 §1A

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

S&W Partners Audit Limited (Formerly CLA Evelyn Partners Limited)

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis. The directors have received confirmation from the immediate parent company, Racine Railroads Products Inc that it is their intention to continue to use the Company to service its markets in the UK for the period covering at least the next 12 months from the date of signing of these accounts. The immediate parent company directors have prepared a group budget that demonstrates the group's ability to meet its liabilities as they fall due for a period of at least one year from the approval of these financial statements. The UK company is included within the budget, and the ultimate parent company directors have confirmed in writing that the ultimate parent company will provide financial support to enable the Company to continue as a going concern and meet its liabilities as they fall due for a period of at least one year from the date of approval of these financial statements. In the event that the existing trading relationship in place with Racine Railroads Products Inc were to change, the Company may not remain a going concern. The directors do not believe this to be a likely scenario. On this basis, the directors of the Company has concluded that there are no material uncertainties that may cast doubt on the Company's ability to continue as a going concern.”

Significant events

• “During the audit, it was identified that the recharge to the company of certain expenses paid by the parent company on behalf of the Company for the period ended 31 December 2023 had been overstated by £47,451. This overstatement related specifically to Employer's National Insurance contributions. This led to an overstatement of £47,451 in amounts owed to group undertakings. An adjustment has been made to the comparative figures to reflect the correction, resulting in a reduction in Employers NI by £26,888, a reduction in Directors' employers NI by £20,563, and a corresponding decrease in amounts owed to group undertakings by £47,451. The net impact of this adjustment at 31 December 2023 was a reduction in the reported loss for the year by £47,451 and a decrease in net liabilities of the same amount.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.