Radius Health Creative Limited
Unaudited Financial Statements
For the year ended 29 February 2024
Pages for Filing with Registrar
Company Registration No. 12888079 (England and Wales)
Radius Health Creative Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
Radius Health Creative Limited
Balance Sheet
As at 29 February 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,217
9,803
Current assets
Debtors
4
303,699
296,492
Cash at bank and in hand
666,734
456,705
970,433
753,197
Creditors: amounts falling due within one year
5
(238,417)
(403,392)
Net current assets
732,016
349,805
Net assets
738,233
359,608
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
738,231
359,606
Total equity
738,233
359,608

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 12 February 2025 and are signed on its behalf by:
C Valdez
Director
Company Registration No. 12888079
Radius Health Creative Limited
Statement of Changes in Equity
For the year ended 29 February 2024
Page 2
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 March 2022
1
103,860
103,861
Period ended 28 February 2023:
Profit and total comprehensive income for the period
-
360,813
360,813
Issue of share capital
6
1
-
1
Dividends
-
(105,067)
(105,067)
Balance at 28 February 2023
2
359,606
359,608
Year ended 29 February 2024:
Profit and total comprehensive income for the year
-
433,625
433,625
Dividends
-
(55,000)
(55,000)
Balance at 29 February 2024
2
738,231
738,233
Radius Health Creative Limited
Notes to the Financial Statements
For the year ended 29 February 2024
Page 3
1
Accounting policies
Company information

Radius Health Creative Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.

 

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
30% Straight Line

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.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Radius Health Creative Limited
Notes to the Financial Statements (Continued)
For the year ended 29 February 2024
1
Accounting policies
(Continued)
Page 4
1.5
Financial instruments

The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
Radius Health Creative Limited
Notes to the Financial Statements (Continued)
For the year ended 29 February 2024
Page 5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023
18,434
Additions
624
Transfers
(4,749)
At 29 February 2024
14,309
Depreciation and impairment
At 1 March 2023
8,631
Depreciation charged in the year
4,210
Transfers
(4,749)
At 29 February 2024
8,092
Carrying amount
At 29 February 2024
6,217
At 28 February 2023
9,803
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
284,763
296,491
Other debtors
18,936
1
303,699
296,492
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
65,852
131,406
Corporation tax
145,310
97,289
Other taxation and social security
16,930
(15,830)
Other creditors
4,737
4,489
Accruals and deferred income
5,588
186,038
238,417
403,392
Radius Health Creative Limited
Notes to the Financial Statements (Continued)
For the year ended 29 February 2024
Page 6
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.01p each
2,222
2,222
2
2

There was a sub-division of shares on 4th April 2022 which updated the nominal value of each share from £1 to £0.001.

7
Ultimate controlling party

There is no ultimate controlling party.

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