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Registered number: 14867771
Rad-Line Limited
Unaudited Financial Statements
For the Period 15 May 2023 to 30 June 2024
Steven Burton & Co Limited
Chartered Certified Accountants
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14867771
30 June 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 7,344
7,344
CURRENT ASSETS
Debtors 5 6,658
6,658
Creditors: Amounts Falling Due Within One Year 6 (28,177 )
NET CURRENT ASSETS (LIABILITIES) (21,519 )
TOTAL ASSETS LESS CURRENT LIABILITIES (14,175 )
NET LIABILITIES (14,175 )
CAPITAL AND RESERVES
Called up share capital 7 100
Profit and Loss Account (14,275 )
SHAREHOLDERS' FUNDS (14,175)
For the period ending 30 June 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Victoria Lewis
Director
14/02/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Rad-Line Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14867771 . The registered office is Broomfield Park Coggeshall Road, Earls Colne, Colchester, Essex, CO6 2JX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The company has retained losses of £14,275. As such, the company's ability to trade is based upon the continued support of it's bank and Director. The company's Director, V Lewis, believes sufficient support will remain in place for the next 12 months and as such these accounts have been prepared on a going concern basis
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reducing balance.
2.4. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 15 May 2023 -
Additions 7,500
As at 30 June 2024 7,500
...CONTINUED
Page 2
Page 3
Depreciation
As at 15 May 2023 -
Provided during the period 156
As at 30 June 2024 156
Net Book Value
As at 30 June 2024 7,344
As at 15 May 2023 -
5. Debtors
30 June 2024
£
Due within one year
Trade debtors 6,514
Other debtors 144
6,658
6. Creditors: Amounts Falling Due Within One Year
30 June 2024
£
Trade creditors 2,674
Bank loans and overdrafts 2,614
Other creditors 22,889
28,177
7. Share Capital
30 June 2024
£
Allotted, Called up and fully paid 100
Page 3