RADICAL HQ LIMITED Filleted Accounts Cover
RADICAL HQ LIMITED
Company No. 12580247
Information for Filing with The Registrar
30 April 2024
RADICAL HQ LIMITED Directors Report Registrar
The Directors present their report and the accounts for the year ended 30 April 2024.
Principal activities
The principal activity of the company during the year under review was business and domestic software development.
Directors
The Directors who served at any time during the year were as follows:
J.I. Gabbard
J. Hammer
(Resigned 13 June 2024)
N. Priell
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
N. Priell
Director
09 January 2025
RADICAL HQ LIMITED Balance Sheet Registrar
at
30 April 2024
Company No.
12580247
Notes
2024
2023
£
£
Fixed assets
Intangible assets
4
33,35438,118
Tangible assets
5
112,047178,907
145,401217,025
Current assets
Debtors
6
786,954820,047
Cash at bank and in hand
5,289,8868,132,083
6,076,8408,952,130
Creditors: Amount falling due within one year
7
(66,952)
(123,426)
Net current assets
6,009,8888,828,704
Total assets less current liabilities
6,155,2899,045,729
Net assets
6,155,2899,045,729
Capital and reserves
Called up share capital
1818
Share premium account
10
13,152,65613,150,205
Other reserve
10
160,429124,011
Profit and loss account
10
(7,157,814)
(4,228,505)
Total equity
6,155,2899,045,729
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 April 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 09 January 2025
And signed on its behalf by:
N. Priell
Director
09 January 2025
RADICAL HQ LIMITED Notes to the Accounts Registrar
for the year ended 30 April 2024
1
General information
Its registered number is: 12580247
Its registered office is:
48 Wilson Grove
London
England
SE16 4PN
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (January 2022) and the Companies Act 2006.
Going concern
These financial statements have been prepared on a going concern basis. The director, having considered the financial position of the company for a period of at least twelve months from the date of signing these financial statements, has no reason to believe that a material uncertainty exists that may cast doubt about the ability of the company to continue as a going concern. Accordingly the director has a reasonable expectation that the company will continue in operational existence and therefore he continues to adopt the going concern basis of accounting to prepare the financial statements.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
25% Straight line
Research and development costs
Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.
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 profit and loss account because of items of income or expense that are taxable or deductible in other years 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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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.

Current or deferred tax for the year is recognised in profit or loss, except when they relate 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.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Share based payments
Share-based payment arrangements in which the entity receives goods or services as consideration for its own equity instruments are accounted for as equity-settled share-based payment transactions, regardless of how the equity instruments are obtained by the entity.
The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured based on an using an option valuation model, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes.
Where the terms and conditions of options are modified before they vest, the increase in the fair value of options, measured immediately before and after the modification, is also charged to the Profit and Loss account over the remaining vesting period.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
1618
4
Intangible fixed assets
Other
Total
£
£
Cost
At 1 May 2023
47,64847,648
At 30 April 2024
47,64847,648
Amortisation and impairment
At 1 May 2023
9,5309,530
Charge for the year
4,7644,764
At 30 April 2024
14,29414,294
Net book values
At 30 April 2024
33,35433,354
At 30 April 2023
38,11838,118
5
Tangible fixed assets
Plant and machinery
Total
£
£
Cost or revaluation
At 1 May 2023
266,642266,642
Additions
20,64720,647
Disposals
(26,890)
(26,890)
At 30 April 2024
260,399260,399
Depreciation
At 1 May 2023
87,73587,735
Charge for the year
68,83268,832
Disposals
(8,215)
(8,215)
At 30 April 2024
148,352148,352
Net book values
At 30 April 2024
112,047112,047
At 30 April 2023
178,907
178,907
6
Debtors
2024
2023
£
£
Trade debtors
9,58211,696
Corporation tax recoverable
641,401641,401
VAT recoverable
21,48540,393
Other debtors
72,45072,450
Prepayments and accrued income
42,03654,107
786,954820,047
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Trade creditors
18,70813,031
Taxes and social security
3,408
2,381
Other creditors
4,9358,589
Accruals and deferred income
39,90199,425
66,952123,426
8
Share based payments
The company operates an employee share option plan, 318800 options have been granted in 2024 (2023: 1268541) for shares in the company.
Details of the share options outstanding during the year are as follows, presented in GBP:
Weighted average exercise price (USD) 2024
Number 2024
Weighted average exercise price (USD) 2023
Number 2023
Outstanding as at beginning of year
0.22
1,472,923
0.22
798,595
Granted during the year
0.22
318,800
0.22
1,268,541
Cancelled during the year
0.22
(604,819)
0.22
(594,213)
Outstanding as at the end of the year
-
1,186,904
-
1,472,923
0.22
1,186,904
0.22
1,472,923
2024
2023
Option pricing model used
Black and Scholes
Black and Scholes
Share price (USD)
0.01
0.01
Exercise price (USD)
0.01
0.01
Contractual life (years)
4.00
4.00
Expected volatility
70.00%
70.00%
Risk-free interest rate
0.20%
0.20%
2024
2023
£
£
Equity-settled schemes
160,429
124,011
9
Share Capital
10,811,916 ordinary shares and 3,079,680 seed preference shares at a nominal price of £0.000001 and 5,226,481 A preferred shares at a nominal price of $0.000001.
10
Reserves
Other Reserve
Total other reserves
£
£
At 1 May 2022
50,500
50,500
Movement on other reserve
73,511
73,511
At 30 April 2023 and 1 May 2023
124,011
124,011
Movement on other reserve
36,418
36,418
At 30 April 2024
160,429160,429
Other reserve - reflects the movement in equity-settled schemes.
Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
Profit and loss account - includes all current and prior period retained profits and losses.
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