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Registered number: 07413003
Radiant Drops Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
SKZ Chartered Certified Accountants
Unit 1
1 Riches Road
Ilford
IG1 1JH
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07413003
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 5 36,648 53,000
36,648 53,000
CURRENT ASSETS
Cash at bank and in hand 3,358 65,085
3,358 65,085
Creditors: Amounts Falling Due Within One Year 6 (6,705 ) (6,607 )
NET CURRENT ASSETS (LIABILITIES) (3,347 ) 58,478
TOTAL ASSETS LESS CURRENT LIABILITIES 33,301 111,478
NET ASSETS 33,301 111,478
CAPITAL AND RESERVES
Called up share capital 7 40,000 40,000
Profit and Loss Account (6,699 ) 71,478
SHAREHOLDERS' FUNDS 33,301 111,478
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mohammed Nabeel KHAN
Director
31/01/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Radiant Drops Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07413003 . The registered office is Unit 1, Kataria Point C/O Skz Accountants, 1 Riches Road, Ilford, IG1 1JH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 18% Reducing balance Method
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2022 4,527
As at 31 October 2023 4,527
Depreciation
As at 1 November 2022 4,527
As at 31 October 2023 4,527
Net Book Value
As at 31 October 2023 -
As at 1 November 2022 -
Page 3
Page 4
5. Investments
Unlisted
£
Cost
As at 1 November 2022 53,000
As at 31 October 2023 53,000
Provision
As at 1 November 2022 -
Impairment losses 16,352
As at 31 October 2023 16,352
Net Book Value
As at 31 October 2023 36,648
As at 1 November 2022 53,000
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 1,506 17
Accruals and deferred income 1,735 2,064
Director's loan account 3,464 4,526
6,705 6,607
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 40,000 40,000
Page 4