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REGISTERED NUMBER: 00285811 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Radford Holdings Limited

Radford Holdings Limited (Registered number: 00285811)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Radford Holdings Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A W Radford
Mrs V C A Radford
G P Allmand
J A J Muddiman





SECRETARY: G P Allmand





REGISTERED OFFICE: First Floor Offices
Unit 17 Colwick Business Park
Private Road No.2, Colwick
Nottingham
Nottinghamshire
NG4 2JR





REGISTERED NUMBER: 00285811 (England and Wales)





ACCOUNTANTS: D. K. Rumsby & Co Limited
3 Colwick Quays
Colwick
Nottingham
Nottinghamshire
NG4 2JY

Radford Holdings Limited (Registered number: 00285811)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 111,423 34,121
Investments 5 37 37
Investment property 6 14,413,062 13,505,585
14,524,522 13,539,743

CURRENT ASSETS
Debtors 7 560,864 758,408
Cash at bank and in hand 384,878 222,833
945,742 981,241
CREDITORS
Amounts falling due within one year 8 (1,148,188 ) (1,188,606 )
NET CURRENT LIABILITIES (202,446 ) (207,365 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,322,076

13,332,378

CREDITORS
Amounts falling due after more than one
year

9

(3,265,989

)

(2,468,683

)

PROVISIONS FOR LIABILITIES (148,691 ) (107,539 )
NET ASSETS 10,907,396 10,756,156

CAPITAL AND RESERVES
Called up share capital 12 21,140 21,140
Non distributable reserve 4,868,255 4,904,609
Retained earnings 6,018,001 5,830,407
SHAREHOLDERS' FUNDS 10,907,396 10,756,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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 directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Radford Holdings Limited (Registered number: 00285811)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2024 and were signed on its behalf by:





A W Radford - Director


Radford Holdings Limited (Registered number: 00285811)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Radford Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company has net current liabilities at 31 December 2023 of £202,446 (2022 - £207,365) and is, therefore, reliant on the continued support of its principal creditors. The directors are confident that this support will not be withdrawn and as a result the going concern basis of accounting has been adopted.

These accounts do not reflect any changes that would be required if the going concern basis was not considered to be appropriate.

Preparation of consolidated financial statements
The financial statements contain information about Radford Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, in the case of finance leases, over the lease term, whichever is the shorter.
Land and buildings- 12.5% on cost
Plant and machinery etc- 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised through total comprehensive income.

The fair value is ascertained by consideration of market evidence for similar properties in the same location and condition.

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 tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Radford Holdings Limited (Registered number: 00285811)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that 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 be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Non distributable reserve
The non distributable reserve consists of the fair value adjustment to investment properties net of deferred tax provision on any potential gains.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

Radford Holdings Limited (Registered number: 00285811)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 102,706
Additions 95,862
At 31 December 2023 198,568
DEPRECIATION
At 1 January 2023 68,585
Charge for year 18,560
At 31 December 2023 87,145
NET BOOK VALUE
At 31 December 2023 111,423
At 31 December 2022 34,121

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 50,636
At 31 December 2023 50,636
DEPRECIATION
Charge for year 3,165
At 31 December 2023 3,165
NET BOOK VALUE
At 31 December 2023 47,471

Radford Holdings Limited (Registered number: 00285811)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 137
Additions 48,363
Disposals (100 )
At 31 December 2023 48,400
PROVISIONS
At 1 January 2023 100

Eliminated on disposal (100 )
Impairments 48,363
At 31 December 2023 48,363
NET BOOK VALUE
At 31 December 2023 37
At 31 December 2022 37

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 13,505,585
Additions 907,477
At 31 December 2023 14,413,062
NET BOOK VALUE
At 31 December 2023 14,413,062
At 31 December 2022 13,505,585

The investment properties were valued on a fair value basis on 31 December 2023 by the directors.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 359,464 297,355
Amounts owed by group undertakings 28,507 43,207
Other debtors 172,893 417,846
560,864 758,408

Radford Holdings Limited (Registered number: 00285811)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 112,867 101,317
Hire purchase contracts (see note 10) 5,571 -
Trade creditors 103,679 97,145
Amounts owed to group undertakings 24,326 23,967
Taxation and social security 77,013 70,681
Other creditors 824,732 895,496
1,148,188 1,188,606

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 2,625,817 1,988,683
Hire purchase contracts (see note 10) 40,172 -
Other creditors 600,000 480,000
3,265,989 2,468,683

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 5,571 -
Between one and five years 40,172 -
45,743 -

11. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 45,743 -
Bank loans 2,738,684 2,090,000
Other loans 750,000 600,000
3,534,427 2,690,000

Obligations under hire purchase contracts are secured on the assets concerned.

The bank borrowing is secured by a debenture from Radford Holdings Limited over all of its assets and undertaking and a first legal mortgage charge over certain of the company's freehold properties.

The other loans are secured by a legal mortgage over certain of the company's freehold properties.

Radford Holdings Limited (Registered number: 00285811)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
21,140 Ordinary shares £1 21,140 21,140

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
G P Allmand
Balance outstanding at start of year 150,000 -
Amounts advanced 50,000 150,000
Amounts repaid (200,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 150,000

J A J Muddiman
Balance outstanding at start of year - -
Amounts advanced 5,182 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,182 -

The interest rate charged on the above loans to G P Allmand was 1.00% over Bank of England Base Rate.

The loans to J A J Muddiman are interest free.