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RADON NETWORKS LTD

Registered Number
08774485
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

RADON NETWORKS LTD
Company Information
for the year from 1 December 2023 to 30 November 2024

Directors

ANJAM LATIF, Asma
LATIF, Mohammad Anjam

Registered Address

First Floor, County Motors, C/O H&R Legal
Alderney Street
Newport
NP20 5NH

Registered Number

08774485 (England and Wales)
RADON NETWORKS LTD
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,9085,517
2,9085,517
Current assets
Stocks4-2,627
Debtors558,59248,053
Cash at bank and on hand27,74028,673
86,33279,353
Creditors amounts falling due within one year6(56,048)(48,454)
Net current assets (liabilities)30,28430,899
Total assets less current liabilities33,19236,416
Creditors amounts falling due after one year7(17,469)(27,656)
Net assets15,7238,760
Capital and reserves
Called up share capital100100
Profit and loss account15,6238,660
Shareholders' funds15,7238,760
The financial statements were approved and authorised for issue by the Board of Directors on 27 January 2025, and are signed on its behalf by:
LATIF, Mohammad Anjam
Director
Registered Company No. 08774485
RADON NETWORKS LTD
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing 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 transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings25-
Office Equipment-25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year43
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 December 235106,6917,201
Disposals-(1,683)(1,683)
At 30 November 245105,0085,518
Depreciation and impairment
At 01 December 231281,5561,684
Charge for year951,6721,767
Revaluation surplus-(841)(841)
At 30 November 242232,3872,610
Net book value
At 30 November 242872,6212,908
At 30 November 233825,1355,517
4.Stocks

2024

2023

££
Other stocks-2,627
Total-2,627
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables57,50047,479
Other debtors1,092574
Total58,59248,053
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables40,08916,608
Taxation and social security12,12430,555
Other creditors1,909264
Accrued liabilities and deferred income1,9261,027
Total56,04848,454
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts17,46927,656
Total17,46927,656
8.Related party transactions
At the reporting date, included in the other creditors is an amount of £1,146 (2023: £3,156) is due to directors of the company