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Registration number: 08843332

Radionet Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Radionet Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Radionet Limited

Company Information

Directors

MN O'Rourke

NJ Campbell

Company secretary

NJ Campbell

Registered office

Unit 1
Caughey Street
Park Street
Hull, East Yorkshire
East Yorkshire
HU2 8TH

 

Radionet Limited

(Registration number: 08843332)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

51,938

51,938

Current assets

 

Cash at bank and in hand

 

704

105

Creditors: Amounts falling due within one year

5

(52,514)

(51,914)

Net current liabilities

 

(51,810)

(51,809)

Net assets

 

128

129

Capital and reserves

 

Called up share capital

100

100

Retained earnings

28

29

Shareholders' funds

 

128

129

For the financial year ending 30 June 2024 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 21 October 2024 and signed on its behalf by:
 

.........................................
MN O'Rourke
Director

.........................................
NJ Campbell
Company secretary and director

 

Radionet Limited

Notes to the Unaudited 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 & Wales and the company registration number is 08843332.

The address of its registered office is:
Unit 1
Caughey Street
Park Street
Hull, East Yorkshire
East Yorkshire
HU2 8TH

These financial statements were authorised for issue by the Board on 21 October 2024.

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 have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

The financial statements contain information about Radionet Limited as an individual company and do not contain consolidated financial information as part of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. .

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Radionet Limited

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

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

4

Investments

2024
£

2023
£

Investments in subsidiaries

51,938

51,938

Subsidiaries

£

Cost or valuation

At 1 July 2023

51,938

Provision

Carrying amount

At 30 June 2024

51,938

At 30 June 2023

51,938

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

30,014

30,034

Amounts owed to Company undertakings and undertakings in which the Company has a participating interest

7

22,500

21,880

 

52,514

51,914

6

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

30,014

30,034

Other borrowings relate to a unsecured directors loan account.

7

Related party transactions

Transactions with Directors

Other transactions with Directors

At the year end, the company owed the directors £30,014 (2023: £30,034). This amount is unsecured, interest free and repayable on demand.

 

Radionet Limited

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

Summary of transactions with subsidiaries

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 subsidaries within the group.