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Registration number: 02851234

Radius Educational Services Limited

Annual Report and Financial Statements

for the Year Ended 30 June 2024

 

Radius Educational Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Radius Educational Services Limited

Company Information

Directors

Mr PE Sachs

Ms EJ Phillips

Registered office

Oakmoore Court Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

Auditors

Ballards LLP
Statutory Auditors, Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Radius Educational Services Limited

(Registration number: 02851234)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

102,530

78,279

Current assets

 

Debtors

5

960,525

484,977

Cash at bank and in hand

 

49,890

170,446

 

1,010,415

655,423

Creditors: Amounts falling due within one year

6

(244,055)

(222,750)

Net current assets

 

766,360

432,673

Net assets

 

868,890

510,952

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

868,690

510,752

Shareholders' funds

 

868,890

510,952

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 October 2024 and signed on its behalf by:
 

.........................................
Mr PE Sachs
Director

.........................................
Ms EJ Phillips
Director

 
 

Radius Educational Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Oakmoore Court Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH
Great Britain

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements have been rounded to the neared £.

Going concern

The directors have reviewed the appropriateness of presenting the financial statements using the going concern principle.

Radius has experienced strong growth and operational profitability, as demonstrated by consistent positive EBITDA over the previous 4 years.

Having considered the forecast revenues and the company's ongoing operational expenditure the company's directors have concluded that it is appropriate that these financial statements are prepared and presented using the going concern principle.

Audit report
The Independent Auditor's was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 29 October 2024 was James Syree BSc FCA, who signed for and on behalf of Ballards LLP.
 

 

Radius Educational Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affacts only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue recognition

Revenue represents the value of services provided, excluding value added tax and is attributable to the Company's principal activity.

Childcare services

The principal activity of the Company is the provision of childcare services, which is treated as a single performance obligation. Revenue from providing these services is recognised over time in the accounting period in which the services are rendered, reflecting the simultaneous receipt and consumption of benefits by the customer. Fees for childcare services are invoiced in advance and recognised as advance fees and only recognised in the period which they relate.

Government funding

Government funding is directly linked to the provision of childcare services, representing additional government funding to supplement the amounts paid by parents. This activity is considered to be lined to the single performance obligation of providing childcare services which is recognised over time in the accounting period in which the services are rendered. Government funding is paid in advance and recognised as a liability and only recognised in the period to which it relates.

Deposits

Deposits are required upfront for the provision of childcare services and are recorded as liabilities upon receipt. Deposits are refunded on conclusion of a performance obligation where the parent chooses not to renew, except in cases where they are recouped against outstanding fees. Where deposits remain for a period of 12 months following the conclusion of a performance obligation and have not been requested for repayment, they are released to the profit or loss account.

Government grants

The accounting policy adopted for grants is the accruals model.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of histroical cost in a foreign currency are not retranslated.

 

Radius Educational Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

20% Straight line

Plant and machinery

20% Straight line

Motor vehicles

20% Straight line

Furniture & fixtures

33% Straight line

Electronic Equipment

33% Straight line

Leased assets

Over the term of the lease

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Radius Educational Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 30 (2023 - 31).

4

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

126,519

71,894

12,949

211,362

Additions

49,374

6,394

-

55,768

At 30 June 2024

175,893

78,288

12,949

267,130

Depreciation

At 1 July 2023

56,845

63,289

12,949

133,083

Charge for the year

25,272

6,245

-

31,517

At 30 June 2024

82,117

69,534

12,949

164,600

Carrying amount

At 30 June 2024

93,776

8,754

-

102,530

At 30 June 2023

69,674

8,605

-

78,279

Included within the net book value of leasehold improvements above is £69,674 (2022 - £68,744) in respect of short leasehold land and buildings.
 

 

Radius Educational Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

111,364

89,803

Amounts owed by related parties

8

804,043

348,074

Prepayments

 

42,549

44,802

Other debtors

 

2,569

2,298

   

960,525

484,977

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

33,925

50,810

Taxation and social security

13,011

10,772

Other creditors

197,119

161,168

244,055

222,750

7

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

100,000

100,000

Later than one year and not later than five years

400,000

400,000

Later than five years

125,000

225,000

625,000

725,000

The amount of non-cancellable operating lease payments recognised as an expense during the year was £100,000 (2023 - £100,000).

8

Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

 

Radius Educational Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

9

Parent and ultimate parent undertaking

The company's immediate parent is Kido Schools UK Limited, incorporated in England and Wales.

 The ultimate parent is Kido Holdings PTE Limited (Singapore), incorporated in Singapore.

  These financial statements are available upon request from 30 Raffles Place, #23-01 Oxley@Raffles, Singapore 048622.