Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06002304 S S Pethard C M Sykes I M Heath J M Alberici M J Linnington iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06002304 2023-03-31 06002304 2024-03-31 06002304 2023-04-01 2024-03-31 06002304 frs-core:CurrentFinancialInstruments 2024-03-31 06002304 frs-core:Non-currentFinancialInstruments 2024-03-31 06002304 frs-core:BetweenOneFiveYears 2024-03-31 06002304 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06002304 frs-core:NetGoodwill 2024-03-31 06002304 frs-core:NetGoodwill 2023-04-01 2024-03-31 06002304 frs-core:NetGoodwill 2023-03-31 06002304 frs-core:LandBuildings 2024-03-31 06002304 frs-core:LandBuildings 2023-04-01 2024-03-31 06002304 frs-core:LandBuildings 2023-03-31 06002304 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06002304 frs-core:MoreThanFiveYears 2024-03-31 06002304 frs-core:MotorVehicles 2023-04-01 2024-03-31 06002304 frs-core:PlantMachinery 2024-03-31 06002304 frs-core:PlantMachinery 2023-04-01 2024-03-31 06002304 frs-core:PlantMachinery 2023-03-31 06002304 frs-core:WithinOneYear 2024-03-31 06002304 frs-core:CapitalRedemptionReserve 2024-03-31 06002304 frs-core:ShareCapital 2024-03-31 06002304 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06002304 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06002304 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06002304 frs-bus:SmallEntities 2023-04-01 2024-03-31 06002304 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06002304 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06002304 frs-bus:Director1 2023-04-01 2024-03-31 06002304 frs-bus:Director2 2023-04-01 2024-03-31 06002304 frs-bus:Director3 2023-04-01 2024-03-31 06002304 frs-bus:Director4 2023-04-01 2024-03-31 06002304 frs-bus:Director5 2023-04-01 2024-03-31 06002304 frs-countries:EnglandWales 2023-04-01 2024-03-31 06002304 2022-03-31 06002304 2023-03-31 06002304 2022-04-01 2023-03-31 06002304 frs-core:CurrentFinancialInstruments 2023-03-31 06002304 frs-core:Non-currentFinancialInstruments 2023-03-31 06002304 frs-core:BetweenOneFiveYears 2023-03-31 06002304 frs-core:MoreThanFiveYears 2023-03-31 06002304 frs-core:WithinOneYear 2023-03-31 06002304 frs-core:CapitalRedemptionReserve 2023-03-31 06002304 frs-core:ShareCapital 2023-03-31 06002304 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 06002304
Radford Heath Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06002304
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 373,549 313,902
373,549 313,902
CURRENT ASSETS
Stocks 21,962 18,150
Debtors 6 238,658 199,663
Cash at bank and in hand 6,571 31,002
267,191 248,815
Creditors: Amounts Falling Due Within One Year 7 (299,766 ) (232,187 )
NET CURRENT ASSETS (LIABILITIES) (32,575 ) 16,628
TOTAL ASSETS LESS CURRENT LIABILITIES 340,974 330,530
Creditors: Amounts Falling Due After More Than One Year 8 (99,849 ) (124,583 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (78,810 ) (60,816 )
NET ASSETS 162,315 145,131
CAPITAL AND RESERVES
Called up share capital 10 500 500
Capital redemption reserve 100 100
Profit and Loss Account 161,715 144,531
SHAREHOLDERS' FUNDS 162,315 145,131
Page 1
Page 2
For the year ending 31 March 2024 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.
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
I M Heath
Director
14 August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Radford Heath Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06002304 . The registered office is Haldon House, 4 Castle Road, Torquay, Devon, TQ1 3BG.
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. Going Concern Disclosure
The financial statements have been completed on the going concern basis albeit that there are net current liabilities reported on the balance sheet of £32,575 due to the ongoing support of the directors through their loan accounts to the company, which at the balance sheet date stood at a total balance of £34,291.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.Goodwill has been fully amortised.
2.5. 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:
Leasehold In accordance with the property
Plant & Machinery 15% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 15% reducing balance
2.6. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.


Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
Page 3
Page 4
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 18)
19 18
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 505,000
As at 31 March 2024 505,000
Amortisation
As at 1 April 2023 505,000
As at 31 March 2024 505,000
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 April 2023 30,855 670,387 701,242
Additions - 113,915 113,915
Disposals - (6,995 ) (6,995 )
As at 31 March 2024 30,855 777,307 808,162
Depreciation
As at 1 April 2023 7,260 380,080 387,340
Provided during the period 1,815 47,920 49,735
Disposals - (2,462 ) (2,462 )
As at 31 March 2024 9,075 425,538 434,613
Net Book Value
As at 31 March 2024 21,780 351,769 373,549
As at 1 April 2023 23,595 290,307 313,902
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 195,628 166,257
Other debtors 43,030 33,406
238,658 199,663
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 50,902 31,327
Trade creditors 32,463 34,217
Bank loans and overdrafts 57,471 62,562
Other creditors 57,705 45,707
Taxation and social security 101,225 58,374
299,766 232,187
Page 5
Page 6
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 46,250 13,513
Bank loans 53,599 111,070
99,849 124,583
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
Hire purchase liabilities are secured against the assets to which the agreements relate.
Bank overdrafts are secured against the company assets.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 97,152 44,840
Bank loans and overdrafts - 8,385
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 500 500
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 34,570 32,840
Later than one year and not later than five years 138,282 131,360
Later than five years 89,307 117,677
262,159 281,877
Page 6