1 October 2023 v2025.19.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPNI0098412023-10-012024-09-30NI0098412024-09-30NI0098412023-09-30NI009841core:WithinOneYear2024-09-30NI009841core:WithinOneYear2023-09-30NI009841core:AfterOneYear2024-09-30NI009841core:AfterOneYear2023-09-30NI009841core:ShareCapital2024-09-30NI009841core:ShareCapital2023-09-30NI009841core:RetainedEarningsAccumulatedLosses2024-09-30NI009841core:RetainedEarningsAccumulatedLosses2023-09-30NI009841bus:Director12023-10-012024-09-30NI009841bus:Director22023-10-012024-09-30NI009841bus:RegisteredOffice2023-10-012024-09-30NI009841core:LandBuildings2023-10-012024-09-30NI009841core:FurnitureFittingsToolsEquipment2023-10-012024-09-30NI009841core:MotorVehicles2023-10-012024-09-30NI0098412022-10-012023-09-30NI009841core:LandBuildings2023-10-01NI009841core:PlantMachinery2023-10-01NI0098412023-10-01NI009841core:PlantMachinery2023-10-012024-09-30NI009841core:LandBuildings2024-09-30NI009841core:PlantMachinery2024-09-30NI009841core:LandBuildings2023-09-30NI009841core:PlantMachinery2023-09-30NI009841core:CostValuation2023-10-01NI009841core:AdditionsToInvestments2024-09-30NI009841core:DisposalsRepaymentsInvestments2024-09-30NI009841core:RevaluationsIncreaseDecreaseInInvestments2024-09-30NI00984112023-10-012024-09-30NI009841countries:NorthernIreland2023-10-012024-09-30NI009841bus:AuditExempt-NoAccountantsReport2023-10-012024-09-30NI009841bus:PrivateLimitedCompanyLtd2023-10-012024-09-30NI009841bus:SmallEntities2023-10-012024-09-30NI009841bus:FullAccounts2023-10-012024-09-30
Company registration number:
NI009841
Radiocontact Limited
Unaudited Filleted Financial Statements for the year ended
30 September 2024
Radiocontact Limited
Statement of Financial Position
30 September 2024
20242023
as restated
Note££
Fixed assets    
Tangible assets 5
677,277
 
689,301
 
Investments 6 -  
289,328
 
677,277
 
978,629
 
Current assets    
Stocks
65,649
 
75,370
 
Debtors 7
1,701,748
 
1,323,301
 
Cash at bank and in hand
842,314
 
841,031
 
2,609,711
 
2,239,702
 
Creditors: amounts falling due within one year 8
(1,235,970
)
(1,160,443
)
Net current assets
1,373,741
 
1,079,259
 
Total assets less current liabilities 2,051,018   2,057,888  
Creditors: amounts falling due after more than one year 9
(77,685
)
(62,614
)
Net assets
1,973,333
 
1,995,274
 
Capital and reserves    
Called up share capital
10,000
 
10,000
 
Profit and loss account
1,963,333
 
1,985,274
 
Shareholders funds
1,973,333
 
1,995,274
 
For the year ending
30 September 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
1 April 2025
, and are signed on behalf of the board by:
Mr John Glen
Mr James Glen
DirectorDirector
Company registration number:
NI009841
Radiocontact Limited
Notes to the Financial Statements
Year ended
30 September 2024

1 General information

The company is a private company limited by shares and is registered in Northern Ireland. The address of the registered office is
37 Montgomery Road
,
Castlereagh
,
Belfast
,
BT6 9HL
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
2% Straight Line
Fixtures, fittings and equipment
15% reducing balance
Motor vehicles
25% reducing balance

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
29
(2023:
25.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 October 2023
716,063
 
518,623
 
1,234,686
 
Additions -  
131,246
 
131,246
 
Disposals -  
(175,078
)
(175,078
)
At
30 September 2024
716,063
 
474,791
 
1,190,854
 
Depreciation      
At
1 October 2023
247,312
 
298,073
 
545,385
 
Charge
13,593
 
73,945
 
87,538
 
Disposals -  
(119,346
)
(119,346
)
At
30 September 2024
260,905
 
252,672
 
513,577
 
Carrying amount      
At
30 September 2024
455,158
 
222,119
 
677,277
 
At 30 September 2023
468,751
 
220,550
 
689,301
 

6 Investments

Other investments other than loans
£
Cost or valuation  
At
1 October 2023
289,328
 
Additions
9,000
 
Disposals
(380,915
)
Revaluations
82,587
 
At
30 September 2024
-  
Impairment  
At
1 October 2023
and
30 September 2024
-  
Carrying amount  
At
30 September 2024
-  
At 30 September 2023
289,328
 

7 Debtors

20242023
as restated
££
Trade debtors
1,264,430
 
994,866
 
Other debtors
437,318
 
328,435
 
1,701,748
 
1,323,301
 

8 Creditors: amounts falling due within one year

20242023
as restated
££
Trade creditors
282,483
 
401,194
 
Taxation and social security
373,105
 
313,415
 
Other creditors
580,382
 
445,834
 
1,235,970
 
1,160,443
 

9 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
77,685
 
62,614
 

10 Prior period errors

A prior period error has been identified which has resulted in a refund of expenses to the company of £229,233. Liabilities for corporation tax of £42,329 and PAYE of £12,681 have been recognised in respect of this error. Opening reserves in these financial statements have been increased by £174,223 to reflect these adjustments. A Section 455 tax liability and corresponding debtor of £74,258 have been included in the prior year comparatives and brought forward balances.