As MMM has pointed out, the 'A' is not a known stamp for the 303. AA was, but this is a very rare incendiary round and unlikely to be what you have.
If the R /|\ L is correct, (Royal Labs, Woolwich), then the 'A42' is far more likely to be a badly corroded or damaged '9' as the cartridge manufacturers were still using a four digit code in 1942. This being the case, the 'A42' is actually 1942 but the one has disappeared beneath corrosion and the 9 looks like an A. The only other explanation is that you haven't got a 303, but something else. However, without a picture we cannot help!
As for the 'IV' stamp, this is simply not possible in a cartridge case dated 1942 as MMM has pointed out. I believe you may be looking at it upside down and it is actually WI, or Mk I armour piercing.
So......what I'm trying to get round to saying in a polite as way as possible is.....you're reading it wrong!
Have another look and let us know.
RRPG