Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Restated | ||||
Fixed assets | ||||
Intangible assets | 4 |
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Tangible assets | 5 |
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348,449 | 320,730 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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327,000 | 505,169 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 153,419 | 297,637 | ||
Total assets less current liabilities | 501,868 | 618,367 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Share premium account |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Radio H-P Limited (registered number:
Mr N Hadden-Paton
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Radio H-P Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
This is the first year in which the financial statements have been prepared under FRS102 Section 1A. Restatements were required to the prior year as a result of transition to FRS102 Section 1A, and these are detailed in note 2.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Goodwill |
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Land and buildings | not depreciated |
Plant and machinery |
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Vehicles |
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Office equipment |
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Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
The Company has adopted FRS 102 for the year ended 30 April 2024 and has restated the comparative year amounts.
Reconciliation of equity
01.05.2022 | 30.04.2023 | |||
£ | £ | |||
Capital and reserves (as previously stated) | 534,805 | 618,367 | ||
Deferred Tax Provision | (906) | (2,708) | ||
Capital and reserves (as restated) | 533,899 | 615,659 |
Reconciliation of profit or loss
30.04.2023 | ||||
£ | ||||
Profit for the year (as previously stated) | 251,562 | |||
Deferred Tax Provision | (1,802) | |||
Profit for the year (as restated) | 249,760 |
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Goodwill | Total | ||
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Cost | |||
At 01 May 2023 |
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At 30 April 2024 |
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Accumulated amortisation | |||
At 01 May 2023 |
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Charge for the financial year |
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At 30 April 2024 |
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Net book value | |||
At 30 April 2024 |
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At 30 April 2023 |
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Land and buildings | Plant and machinery | Vehicles | Office equipment | Computer equipment | Total | ||||||
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Cost | |||||||||||
At 01 May 2023 |
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Additions |
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Disposals |
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At 30 April 2024 |
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Accumulated depreciation | |||||||||||
At 01 May 2023 |
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Charge for the financial year |
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Disposals |
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At 30 April 2024 |
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Net book value | |||||||||||
At 30 April 2024 |
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At 30 April 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by related parties |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Taxation and social security |
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Other creditors |
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Transactions with the entity's directors
The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
At 1 May 2023 the balance owed to the Company was £207,170. During the year, £209,279 was advanced and £283,350 was repaid. The balance owed to the Company as at 30 April 2024 was £133,099.
At 1 May 2022 the balance owed to the Company was £12,270. During the year, £206,294 was advanced and £11,394 was repaid. The balance owed to the Company as at 30 April 2023 was £207,170