2023-01-01 08047629 2023-12-31 08047629 2023-01-01 2023-12-31 08047629 2022-12-31 08047629 2022-05-01 2022-12-31 08047629 uk-core:WithinOneYear 2022-12-31 08047629 uk-core:WithinOneYear 2023-12-31 08047629 uk-core:ShareCapital 2023-12-31 08047629 uk-core:ShareCapital 2022-12-31 08047629 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 08047629 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 08047629 uk-bus:Director1 2023-01-01 2023-12-31 08047629 uk-core:ComputerEquipment 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure 08047629 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08047629 uk-bus:FRS102 2023-01-01 2023-12-31 08047629 uk-bus:FilletedAccounts 2023-01-01 2023-12-31 08047629 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Radic8 Limited
Registered Number:08047629
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2023
Radic8 Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
08047629
As at 31 December 2023
Radic8 Limited
Statement of Financial Position
£
£
31/12/2022
31/12/2023
Notes
Fixed assets
Property, plant and equipment
-
457
2
-
457
Current assets
Inventories
18,092
-
3
Trade and other receivables
2,839
-
4
40,887
Cash and cash equivalents
2
2
61,818
Trade and other payables: amounts falling due within one year
(48,128)
-
5
13,690
2
Net current assets
Total assets less current liabilities
2
14,147
-
(87)
Provisions for liabilities
2
Net assets
14,060
Capital and reserves
Called up share capital
2
2
Retained earnings
-
14,058
2
14,060
Shareholders' funds
For the year ended 31 December 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 of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
All the members have consented to the preparation of an Abridged Income Statement for the year ended 31 December 2023 in accordance with Section 444 (2A) of the Companies Act 2006.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr John Wallace Director
These financial statements were approved and authorised for issue by the Board on 11 March 2024 and were signed by:
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4
Registered Number :
08047629
For the year ended 31 December 2023
Radic8 Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 December 2023
Radic8 Limited
Notes to the Financial Statements
Statutory Information
Radic8 Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 08047629.
The company is being wound up.
Registered address:
135 Church Street
Horwich
Bolton
BL6 7BR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The
financial statements have been prepared under a basis other than going concern, as the Company ceased to trade on 31st
December 2023, and the director of the Company intends on dissolving the Company on 31st March 2024.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% Straight line
Computer Equipment
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position 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 the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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 not be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Foreign currencies
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 rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.
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6
For the year ended 31 December 2023
Radic8 Limited
Notes to the Financial Statements Continued
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 rates and laws that have been enacted or substantively enacted
by the Statement of Financial Position date.
Impairment of assets
At each reporting date assets are reviewed 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 the recoverable amount is lower, the carrying amount of the asset is reduced to its
recoverable amount and an impairment loss is recognised immediately in the profit or loss.
If an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its
recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised in
prior periods. A reversal of an impairment loss is recognised immediately in the profit or loss.
Financial instruments
Basic financial instruments that are payable or receivable within one year, typically trade creditors and debtors, are measured
initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received
less impairment losses for bad and doubtful debts.
2. Property, plant and equipment
Computer
Equipment
£
Cost or valuation
At 01 January 2023
806
Disposals
(806)
At 31 December 2023
-
Provision for depreciation and impairment
At 01 January 2023
349
Charge for year
161
(510)
On disposal
At 31 December 2023
-
At 31 December 2023
Net book value
-
At 31 December 2022
457
3. Inventories
31/12/2022
31/12/2023
£
£
Stocks
-
18,092
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7
For the year ended 31 December 2023
Radic8 Limited
Notes to the Financial Statements Continued
4. Trade and other receivables
31/12/2022
31/12/2023
£
£
Trade debtors
-
2,689
Taxation and social security
-
150
2,839
-
5. Trade and other payables: amounts falling due within one year
31/12/2022
31/12/2023
£
£
Taxation and social security
-
238
Accruals and deferred income
-
1,000
Other creditors
-
46,890
-
48,128
6. Related party transactions
The Company has taken the disclosure exemption available and has not disclosed transactions entered into between two or more
members of the group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.
7. Average number of persons employed
During the year the average number of employees was 0
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