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Company Registration No. 11274350 (England and Wales)
Radley Management Limited Unaudited accounts for the year ended 31 March 2023
Radley Management Limited Unaudited accounts Contents
Page
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Radley Management Limited Company Information for the year ended 31 March 2023
Directors
Jodie Gallagher James Gallagher
Company Number
11274350 (England and Wales)
Registered Office
First Floor 129 High Street Guildford Surrey GU1 3AA UK
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Radley Management Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,477 
1,668 
Current assets
Inventories
35,103 
36,424 
Debtors
78,299 
14,266 
Cash at bank and in hand
30,042 
36,808 
143,444 
87,498 
Creditors: amounts falling due within one year
(144,098)
(123,760)
Net current liabilities
(654)
(36,262)
Net assets/(liabilities)
823 
(34,594)
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
813 
(34,604)
Shareholders' funds
823 
(34,594)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by
Jodie Gallagher Director Company Registration No. 11274350
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Radley Management Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Radley Management Limited is a private company, limited by shares, registered in England and Wales, registration number 11274350. The registered office is First Floor, 129 High Street, Guildford, Surrey, GU1 3AA, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Computer equipment
25% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
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Radley Management Limited Notes to the Accounts for the year ended 31 March 2023
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the directors have made the following judgements: Determine whether there are indicators of impairment of the company's inventories and tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty: Tangible fixed assets (note 4) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
7,851 
70 
7,921 
Additions
1,218 
- 
1,218 
At 31 March 2023
9,069 
70 
9,139 
Depreciation
At 1 April 2022
6,243 
10 
6,253 
Charge for the year
1,399 
10 
1,409 
At 31 March 2023
7,642 
20 
7,662 
Net book value
At 31 March 2023
1,427 
50 
1,477 
At 31 March 2022
1,608 
60 
1,668 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
8,667 
Accrued income and prepayments
68,748 
- 
Other debtors
9,551 
5,599 
78,299 
14,266 
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Radley Management Limited Notes to the Accounts for the year ended 31 March 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
32,570 
36,033 
VAT
12,116 
5,233 
Trade creditors
45,542 
24,652 
Taxes and social security
- 
(163)
Other creditors
(48)
1,311 
Loans from directors
53,918 
56,694 
144,098 
123,760 
7
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
7,319 
- 
Later than one year and not later than five years
19,518 
- 
26,837 
- 
8
Average number of employees
During the year the average number of employees was 2 (2022: 1).
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