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COMPANY REGISTRATION NUMBER: 13094853
Radnor Financial Limited
Filleted Unaudited Financial Statements
31 December 2023
Radnor Financial Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
6
7,241,036
7,241,036
Current assets
Debtors
7
4
4
Creditors: amounts falling due within one year
8
2
2
----
----
Net current assets
2
2
------------
------------
Total assets less current liabilities
7,241,038
7,241,038
------------
------------
Capital and reserves
Called up share capital
10
7,241,038
7,241,038
------------
------------
Shareholders funds
7,241,038
7,241,038
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024 , and are signed on behalf of the board by:
Mr S Cullen
Director
Company registration number: 13094853
Radnor Financial Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Radnor Cliff, Folkestone, CT20 2JN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
4. Other financial commitments
As at the reporting date the Company had no capital or other commitments or contracts for capital expenditure in place.
5. Employee numbers
There are no contracts of employment in place with the directors or key management.
6. Investments
Other investments other than loans
£
Cost
At 1 January 2023 and 31 December 2023
7,241,036
------------
Impairment
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
7,241,036
------------
At 31 December 2022
7,241,036
------------
Fixed asset investments include investments made into group undertakings.
7. Debtors
2023
2022
£
£
Other debtors
4
4
----
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
2
2
----
----
Included within other debtors are amounts owed to undertakings which are under common control. See note 12 for further details.
9. Financial instruments
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
10. Called up share capital
The company was incorporated with a share capital of 2 ordinary shares with a nominal value of £1.00 each. On 3rd of March 2021 Company has alloted further 7,241,034 ordinary shares with a nominal value of £1.00 each in consideration for of Lutomax Financial Ltd. On the 4th of June 2021 further 2 ordinary shares, A and B, were issued with a nominal value of £1.00 each.
The shares have attached to them full rights regarding voting and rank equally in respect of payment of dividends and distribution (including on winding up).
11. Related party transactions
No transactions with related parties were undertaken such as is required to be disclosed under the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
12. Controlling party
The entity was under direct control of Mr S & Mrs J Cullen.