IRIS Accounts Production v24.2.0.383 06555203 Board of Directors 30.4.24 1.5.23 30.4.24 30.4.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. dispensing pharmacies and associated services. true true true false true true false false false false false false false false false false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh065552032023-04-30065552032024-04-30065552032023-05-012024-04-30065552032022-04-30065552032022-05-012023-04-30065552032023-04-3006555203ns15:EnglandWales2023-05-012024-04-3006555203ns14:PoundSterling2023-05-012024-04-3006555203ns10:Director12023-05-012024-04-3006555203ns10:Consolidated2024-04-3006555203ns10:ConsolidatedGroupCompanyAccounts2023-05-012024-04-3006555203ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3006555203ns10:Consolidatedns10:MediumEntities2023-05-012024-04-3006555203ns10:Consolidatedns10:Audited2023-05-012024-04-3006555203ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-05-012024-04-3006555203ns10:Medium-sizedCompaniesRegimeForAccounts2023-05-012024-04-3006555203ns10:Consolidated2023-05-012024-04-3006555203ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-05-012024-04-3006555203ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-05-012024-04-3006555203ns10:FullAccounts2023-05-012024-04-3006555203ns5:Subsidiary12023-05-012024-04-3006555203ns5:Subsidiary22023-05-012024-04-3006555203ns5:Subsidiary32023-05-012024-04-3006555203ns5:Subsidiary42023-05-012024-04-3006555203ns5:Subsidiary52023-05-012024-04-3006555203ns5:Subsidiary62023-05-012024-04-3006555203ns5:Associate12023-05-012024-04-3006555203ns5:Associate22023-05-012024-04-3006555203ns5:Associate32023-05-012024-04-300655520312023-05-012024-04-3006555203ns10:OrdinaryShareClass12023-05-012024-04-3006555203ns10:Director22023-05-012024-04-3006555203ns10:Director32023-05-012024-04-3006555203ns10:CompanySecretary12023-05-012024-04-3006555203ns10:RegisteredOffice2023-05-012024-04-3006555203ns10:Consolidated2022-05-012023-04-3006555203ns5:CurrentFinancialInstruments2024-04-3006555203ns5:CurrentFinancialInstruments2023-04-3006555203ns5:Non-currentFinancialInstruments2024-04-3006555203ns5:Non-currentFinancialInstruments2023-04-3006555203ns5:ShareCapital2024-04-3006555203ns5:ShareCapital2023-04-3006555203ns5:RetainedEarningsAccumulatedLosses2024-04-3006555203ns5:RetainedEarningsAccumulatedLosses2023-04-3006555203ns5:ShareCapital2022-04-3006555203ns5:RetainedEarningsAccumulatedLosses2022-04-3006555203ns5:RetainedEarningsAccumulatedLosses2022-05-012023-04-3006555203ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-3006555203ns5:NetGoodwill2023-05-012024-04-3006555203ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3006555203ns5:FurnitureFittings2023-05-012024-04-3006555203ns5:NetGoodwill2023-04-3006555203ns5:NetGoodwill2024-04-3006555203ns5:NetGoodwill2023-04-3006555203ns5:LandBuildingsns5:ShortLeaseholdAssets2023-04-3006555203ns5:FurnitureFittings2023-04-3006555203ns5:LandBuildingsns5:ShortLeaseholdAssets2023-05-012024-04-3006555203ns5:LandBuildingsns5:ShortLeaseholdAssets2024-04-3006555203ns5:FurnitureFittings2024-04-3006555203ns5:LandBuildingsns5:ShortLeaseholdAssets2023-04-3006555203ns5:FurnitureFittings2023-04-3006555203ns5:CostValuation2023-04-3006555203ns5:CostValuation2024-04-3006555203ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-04-3006555203ns5:AdditionsToInvestments2024-04-3006555203ns5:AdditionsToInvestmentsns5:UnlistedNon-exchangeTraded2024-04-3006555203ns5:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-04-3006555203ns5:ProvidedReleasedInPeriodProvisionsForImpairmentInvestmentsns5:UnlistedNon-exchangeTraded2024-04-3006555203ns5:TransfersBetweenInvestmentClassesIncreaseDecreaseInInvestments2024-04-3006555203ns5:UnlistedNon-exchangeTradedns5:TransfersBetweenInvestmentClassesIncreaseDecreaseInInvestments2024-04-3006555203ns5:UnlistedNon-exchangeTradedns5:CostValuation2024-04-3006555203ns5:UnlistedNon-exchangeTraded2024-04-3006555203ns5:UnlistedNon-exchangeTraded2023-04-30065552031ns5:Subsidiary12023-05-012024-04-3006555203ns5:Subsidiary232023-05-012024-04-30065552035ns5:Subsidiary32023-05-012024-04-30065552037ns5:Subsidiary42023-05-012024-04-3006555203ns5:Subsidiary592023-05-012024-04-3006555203ns5:Subsidiary6112023-05-012024-04-3006555203ns5:Associate112023-05-012024-04-3006555203ns5:Associate122023-05-012024-04-30065552033ns5:Associate22023-05-012024-04-3006555203ns5:Associate352023-05-012024-04-30065552036ns5:Associate32023-05-012024-04-3006555203ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3006555203ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3006555203ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-04-3006555203ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-04-3006555203ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-04-3006555203ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-04-3006555203ns5:WithinOneYear2024-04-3006555203ns5:WithinOneYear2023-04-3006555203ns5:BetweenOneFiveYears2024-04-3006555203ns5:BetweenOneFiveYears2023-04-3006555203ns5:MoreThanFiveYears2024-04-3006555203ns5:MoreThanFiveYears2023-04-3006555203ns5:AllPeriods2024-04-3006555203ns5:AllPeriods2023-04-3006555203ns5:Secured2024-04-3006555203ns5:Secured2023-04-3006555203ns5:DeferredTaxation2023-04-3006555203ns5:DeferredTaxation2023-05-012024-04-3006555203ns5:DeferredTaxation2024-04-3006555203ns10:OrdinaryShareClass12024-04-3006555203ns5:RetainedEarningsAccumulatedLosses2023-04-30
REGISTERED NUMBER: 06555203 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30th April 2024

for

RADIANT MEDICARE LIMITED

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)






Contents of the Consolidated Financial Statements
for the year ended 30th April 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


RADIANT MEDICARE LIMITED

Company Information
for the year ended 30th April 2024







DIRECTORS: P Radia
Mrs M Radia
N Radia





SECRETARY: P Radia





REGISTERED OFFICE: 2 Burton House
Repton Place
White Lion Road
Amersham
Buckinghamshire
HP7 9LP





REGISTERED NUMBER: 06555203 (England and Wales)





AUDITORS: Jacquards Limited
2 Burton House
Repton Place
White Lion Road
Amersham
Buckinghamshire
HP7 9LP

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Group Strategic Report
for the year ended 30th April 2024

The directors present their strategic report of the company and the group for the year ended 30th April 2024.

REVIEW OF BUSINESS
Despite continuing challenges faced by the industry and the wider business environment, the business trading saw strong levels of trade for the period with sales growth. This was partly due to the acquisition of a new branches part way through the financial period and additional services provided at existing sites. We have also expanded our service offering, in line with greater opportunities for impacting patient health at a local level.

We continue to develop our systems which will allow us a more efficient operation and support for the growth of the business with an ongoing focus on continuous improvement and adaptability to future operational needs.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties faced by the business are considered by the Directors to be as follows.

Staffing Risk

The sector continues to face the challenge of recruitment and retention of staff, particularly with other structural challenges to the labour market. The directors place a great emphasis on the welfare and development of all our staff as well as rewarding their valuable contribution. We continue to believe we have a sector-leading employee proposition, and that this will support our recruitment and retention efforts going forward.

Consumer Risk


The current state of the economy and general consumer sentiment and uncertainty continue to have an influence on discretionary spending. The directors believe that their focus on our core service and diverse customer base helps to mitigate this risk.

Supplier and Price Risk

As a business we are reliant on supplies from a diverse geographical supplier chain, and the amounts that we pay for these supplies can fluctuate due to a number of factors. Price increases as a result of these factors could negatively impact our margins. The directors believe that our pro-active purchasing strategy and long-term relationships with our main suppliers provides the flexibility to mitigate this risk, with no over-reliance on a particular source of product.


RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Group Strategic Report
for the year ended 30th April 2024

FINANCIAL KEY PERFORMANCE INDICATORS
The directors measure the group's performance using a number of key performance indicators.

2024 2023

Sales 17,732,817 15,872,801
EBITDA (adjusted) 1,830,147 2,185,819

Other key performance indicators

Non financial KPls are monitored on a regular basis and include staff turnover levels, customer feedback, and liaison with medical services providers. These are reviewed by the management and appropriate action is taken if required. The management is satisfied with the performance of these KPls during the year.

ON BEHALF OF THE BOARD:





N Radia - Director


26th April 2025

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Report of the Directors
for the year ended 30th April 2024

The directors present their report with the financial statements of the company and the group for the year ended 30th April 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30th April 2024 will be £396,667 (2023: £1,764,250)..

DIRECTORS
The directors shown below have held office during the whole of the period from 1st May 2023 to the date of this report.

P Radia
Mrs M Radia
N Radia

POLITICAL DONATIONS AND EXPENDITURE
During the period the group made donations of £4,790 (2023: £2,884) to non-political charitable organisations.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Report of the Directors
for the year ended 30th April 2024


AUDITORS
The auditors, Jacquards Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





N Radia - Director


26th April 2025

Report of the Independent Auditors to the Members of
Radiant Medicare Limited

Opinion
We have audited the financial statements of Radiant Medicare Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th April 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30th April 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Radiant Medicare Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Radiant Medicare Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

enquiring of management and the directors, including obtaining and reviewing supporting documentation, concerning the group's policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
- assessing the internal controls established by the group to mitigate risks related to fraud or non-compliance with laws and regulations.

In addition to the above, our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations noted above;
- enquiring of management, the directors and legal counsel concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and
- reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Radiant Medicare Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jayesh Patel (Senior Statutory Auditor)
for and on behalf of Jacquards Limited
2 Burton House
Repton Place
White Lion Road
Amersham
Buckinghamshire
HP7 9LP

26th April 2025


Jacquards Limited - Statutory Auditors

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Consolidated
Income Statement
for the year ended 30th April 2024

2024 2023
Notes £    £    £    £   

TURNOVER 17,732,817 15,872,801

Cost of sales 11,518,185 9,725,329
GROSS PROFIT 6,214,632 6,147,472

Administrative expenses 5,224,914 4,558,082
OPERATING PROFIT 4 989,718 1,589,390

Income from interest in associated
undertakings

16,950

37,000
Interest receivable and similar income 49,469 29,439
66,419 66,439
1,056,137 1,655,829

Interest payable and similar expenses 5 356,853 205,590
PROFIT BEFORE TAXATION 699,284 1,450,239

Tax on profit 6 352,085 416,203
PROFIT FOR THE FINANCIAL YEAR 347,199 1,034,036
Profit attributable to:
Owners of the parent 347,199 1,034,036

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Consolidated
Other Comprehensive Income
for the year ended 30th April 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 347,199 1,034,036


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

347,199

1,034,036

Total comprehensive income attributable to:
Owners of the parent 347,199 1,034,036

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Consolidated Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 7,157,752 5,375,783
Tangible assets 10 1,020,527 507,960
Investments 11
Interest in associate 213 213
Other investments 49,712 -
8,228,204 5,883,956

CURRENT ASSETS
Stocks 12 914,242 749,218
Debtors 13 7,395,775 6,753,844
Cash at bank and in hand 1,451,808 2,563,927
9,761,825 10,066,989
CREDITORS
Amounts falling due within one year 14 5,558,390 5,357,445
NET CURRENT ASSETS 4,203,435 4,709,544
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,431,639

10,593,500

CREDITORS
Amounts falling due after more than one
year

15

(5,374,714

)

(3,624,865

)

PROVISIONS FOR LIABILITIES 19 (247,619 ) (109,861 )
NET ASSETS 6,809,306 6,858,774

CAPITAL AND RESERVES
Called up share capital 20 2 2
Retained earnings 21 6,809,304 6,858,772
SHAREHOLDERS' FUNDS 6,809,306 6,858,774

The financial statements were approved by the Board of Directors and authorised for issue on 26th April 2025 and were signed on its behalf by:





N Radia - Director


RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Company Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 4,445,739 4,004,271
Tangible assets 10 975,535 463,568
Investments 11 2,113,669 2,673
7,534,943 4,470,512

CURRENT ASSETS
Stocks 12 914,242 749,218
Debtors 13 7,649,895 6,384,631
Cash at bank 730,151 1,473,109
9,294,288 8,606,958
CREDITORS
Amounts falling due within one year 14 4,985,611 4,225,135
NET CURRENT ASSETS 4,308,677 4,381,823
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,843,620

8,852,335

CREDITORS
Amounts falling due after more than one
year

15

(3,327,307

)

(1,210,323

)

PROVISIONS FOR LIABILITIES 19 (233,979 ) (89,584 )
NET ASSETS 8,282,334 7,552,428

CAPITAL AND RESERVES
Called up share capital 20 2 2
Retained earnings 21 8,282,332 7,552,426
SHAREHOLDERS' FUNDS 8,282,334 7,552,428

Company's profit for the financial year 1,126,573 1,245,775

The financial statements were approved by the Board of Directors and authorised for issue on 26th April 2025 and were signed on its behalf by:





N Radia - Director


RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Consolidated Statement of Changes in Equity
for the year ended 30th April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st May 2022 2 7,588,986 7,588,988

Changes in equity
Dividends - (1,764,250 ) (1,764,250 )
Total comprehensive income - 1,034,036 1,034,036
Balance at 30th April 2023 2 6,858,772 6,858,774

Changes in equity
Dividends - (396,667 ) (396,667 )
Total comprehensive income - 347,199 347,199
Balance at 30th April 2024 2 6,809,304 6,809,306

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Company Statement of Changes in Equity
for the year ended 30th April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st May 2022 2 8,070,901 8,070,903

Changes in equity
Dividends - (1,764,250 ) (1,764,250 )
Total comprehensive income - 1,245,775 1,245,775
Balance at 30th April 2023 2 7,552,426 7,552,428

Changes in equity
Dividends - (396,667 ) (396,667 )
Total comprehensive income - 1,126,573 1,126,573
Balance at 30th April 2024 2 8,282,332 8,282,334

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Consolidated Cash Flow Statement
for the year ended 30th April 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,920,735 1,914,101
Interest paid (356,853 ) (205,590 )
Tax paid (380,293 ) (357,505 )
Net cash from operating activities 1,183,589 1,351,006

Cash flows from investing activities
Purchase of intangible fixed assets (2,416,230 ) (2,736,630 )
Purchase of tangible fixed assets (636,720 ) (253,793 )
Purchase of fixed asset investments (49,712 ) (60 )
Sale of intangible fixed assets - 2,411,418
Sale of tangible fixed assets (1,956 ) 94,116
Interest received 49,469 29,439
Dividends received 16,950 37,000
Net cash from investing activities (3,038,199 ) (418,510 )

Cash flows from financing activities
New loans in year 2,393,700 275,000
Loan repayments in year (895,773 ) (577,117 )
Amount introduced by directors 15,069 12,318
Amount withdrawn by directors (12,418 ) (72,444 )
Movements in inter-company balances (361,420 ) (152,548 )
Equity dividends paid (396,667 ) (1,764,250 )
Net cash from financing activities 742,491 (2,279,041 )

Decrease in cash and cash equivalents (1,112,119 ) (1,346,545 )
Cash and cash equivalents at
beginning of year

2

2,563,927

3,910,472

Cash and cash equivalents at end of
year

2

1,451,808

2,563,927

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Cash Flow Statement
for the year ended 30th April 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 699,284 1,450,239
Depreciation charges 774,010 716,399
Profit on disposal of fixed assets - (186,409 )
Finance costs 356,853 205,590
Finance income (66,419 ) (66,439 )
1,763,728 2,119,380
Increase in stocks (165,024 ) (24,169 )
Increase in trade and other debtors (236,121 ) (316,811 )
Increase in trade and other creditors 558,152 135,701
Cash generated from operations 1,920,735 1,914,101

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30th April 2024
30/4/24 1/5/23
£    £   
Cash and cash equivalents 1,451,808 2,563,927
Year ended 30th April 2023
30/4/23 1/5/22
£    £   
Cash and cash equivalents 2,563,927 3,910,472


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/5/23 Cash flow At 30/4/24
£    £    £   
Net cash
Cash at bank and in hand 2,563,927 (1,112,119 ) 1,451,808
2,563,927 (1,112,119 ) 1,451,808
Debt
Debts falling due within 1 year (852,219 ) 251,922 (600,297 )
Debts falling due after 1 year (3,624,865 ) (1,749,849 ) (5,374,714 )
(4,477,084 ) (1,497,927 ) (5,975,011 )
Total (1,913,157 ) (2,610,046 ) (4,523,203 )

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements
for the year ended 30th April 2024

1. STATUTORY INFORMATION

Radiant Medicare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The consolidated financial statements include the financial statements of the company and its subsidiary undertakings drawn up to 30 April 2022.

The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control over the operating and financial decisions is obtained and cease to be consolidated from the date on which power is transferred out of the group. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

All subsidiaries have a period end of 30 April 2022. All intercompany balances and transactions, including recognised gains arising from inter-group transactions, have been eliminated in full.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over
the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is
amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of
goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance, 20% on cost and 15% on reducing balance

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th April 2024

2. ACCOUNTING POLICIES - continued

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,294,958 1,989,856
Other pension costs 1,114 3,985
2,296,072 1,993,841

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th April 2024

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Operational staff 99 87
Directors 3 3
102 90

2024 2023
£    £   
Directors' remuneration 37,548 36,099

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery - 365
Other operating leases 414,245 400,170
Depreciation - owned assets 139,749 141,020
Profit on disposal of fixed assets - (186,409 )
Goodwill amortisation 634,261 575,319
Auditors' remuneration 12,000 17,000
Auditors' remuneration for non audit work 50,796 51,215

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 356,853 205,590

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 241,418 384,271
Adjustment for previous period (13,451 ) -
Total current tax 227,967 384,271

Deferred tax 124,118 31,932
Tax on profit 352,085 416,203

UK corporation tax has been charged at 25 % .

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th April 2024

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £0.01 each
Interim 396,667 1,764,250

9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1st May 2023 10,711,225
Additions 2,416,230
At 30th April 2024 13,127,455
AMORTISATION
At 1st May 2023 5,335,442
Amortisation for year 634,261
At 30th April 2024 5,969,703
NET BOOK VALUE
At 30th April 2024 7,157,752
At 30th April 2023 5,375,783

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th April 2024

9. INTANGIBLE FIXED ASSETS - continued

Company
Goodwill
£   
COST
At 1st May 2023 6,897,695
Additions 703,800
Reclassification/transfer 60
At 30th April 2024 7,601,555
AMORTISATION
At 1st May 2023 2,893,424
Amortisation for year 262,392
At 30th April 2024 3,155,816
NET BOOK VALUE
At 30th April 2024 4,445,739
At 30th April 2023 4,004,271

The Company has hived-up certain acquired subsidiaries. The policy is to transfer the trade and net assets of the acquired subsidiaries in question to the Company at book value. The initial cost of the Company's investment in the subsidiary undertaking reflects the underlying fair value of its net assets and goodwill at the time of its acquisition.

As a result of the transfer, the value of the Company's investment in the subsidiary undertaking falls below the amount at which it is stated in the Company's accounting records. Section 396 of the Companies Act 2006 requires that the investment be written down accordingly and that the amount be charged as a loss in the Company's income statement. However, the directors consider that, as there has been no overall loss to the Company, it would fail to give a true and fair view to charge the diminution to the Company's income statement and it should instead be re-allocated to goodwill and the identifiable net assets transferred, so as to recognise, in the Company's individual statement of financial position, the effective cost to the Company of those net assets and goodwill. The effect on the Company's statement of financial position of this departure is to recognise goodwill at cost of £1,622,043 (2023: £1,622,043), less accumulated amortisation of £322,632 (2023: £215,088).

Given that the businesses concerned operate in a generally stable market, the directors have concluded that the estimated economic life of the resulting intangible asset is fifteen years at the date that the transfer took place.

The asset is reviewed annually for impairment and the last review indicated that no impairment had arisen.

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th April 2024

10. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
Short to and
leasehold property fittings Totals
£    £    £    £   
COST
At 1st May 2023 107,166 6,465 998,408 1,112,039
Additions - - 636,720 636,720
Disposals - (6,465 ) (63,130 ) (69,595 )
Reclassification/transfer - - 59,988 59,988
At 30th April 2024 107,166 - 1,631,986 1,739,152
DEPRECIATION
At 1st May 2023 107,166 6,465 490,448 604,079
Charge for year - - 139,749 139,749
Eliminated on disposal - (6,465 ) (18,738 ) (25,203 )
At 30th April 2024 107,166 - 611,459 718,625
NET BOOK VALUE
At 30th April 2024 - - 1,020,527 1,020,527
At 30th April 2023 - - 507,960 507,960

Company
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1st May 2023 107,166 935,278 1,042,444
Additions - 636,719 636,719
At 30th April 2024 107,166 1,571,997 1,679,163
DEPRECIATION
At 1st May 2023 107,166 471,710 578,876
Charge for year - 124,752 124,752
At 30th April 2024 107,166 596,462 703,628
NET BOOK VALUE
At 30th April 2024 - 975,535 975,535
At 30th April 2023 - 463,568 463,568

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th April 2024

11. FIXED ASSET INVESTMENTS

Group
Interest
in Unlisted
associate investments Totals
£    £    £   
COST
At 1st May 2023 213 - 213
Additions - 49,712 49,712
At 30th April 2024 213 49,712 49,925
NET BOOK VALUE
At 30th April 2024 213 49,712 49,925
At 30th April 2023 213 - 213
Company
Shares in Interest
group in Unlisted
undertakings associate investments Totals
£    £    £    £   
COST
At 1st May 2023 2,460 213 - 2,673
Additions 2,924,737 - 49,712 2,974,449
Impairments (863,393 ) - - (863,393 )
Reclassification/transfer (60 ) - - (60 )
At 30th April 2024 2,063,744 213 49,712 2,113,669
NET BOOK VALUE
At 30th April 2024 2,063,744 213 49,712 2,113,669
At 30th April 2023 2,460 213 - 2,673

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Radipharm Limited
Registered office: 2 Burton House, Repton Place, White Lion Road, Amersham HP7 9LP
Nature of business: Interim holding company
%
Class of shares: holding
Ordinary 100.00

Mayfair Pharmacare Limited
Registered office: 2 Burton House, Repton Place, White Lion Road, Amersham HP7 9LP
Nature of business: Retail dispensing pharmacy
%
Class of shares: holding
Ordinary 100.00

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th April 2024

11. FIXED ASSET INVESTMENTS - continued

Radicare Limited
Registered office: 2 Burton House, Repton Place, White Lion Road, Amersham HP7 9LP
Nature of business: Non-trading
%
Class of shares: holding
Ordinary 100.00

Avenue Pharmacy Limited
Registered office: 2 Burton House, Repton Place, White Lion Road, Amersham HP7 9LP
Nature of business: Non-trading
%
Class of shares: holding
Ordinary 100.00

Birchtrade Limited
Registered office: 2 Burton House, Repton Place, White Lion Road, Amersham HP7 9LP
Nature of business: Non-trading
%
Class of shares: holding
Ordinary 100.00

Eastware Pharmacy Limited
Registered office: 2 Burton House, Repton Place, White Lion Road, Amersham HP7 9LP
Nature of business: Retail dispensing pharmacy
%
Class of shares: holding
Ordinary 100.00

Associated companies

Surreal Medicare Limited
Registered office: 2 Burton House, Repton Place, White Lion Road, Amersham HP7 9LP
Nature of business: Dispensing pharmacies
%
Class of shares: holding
Ordinary 10.00
Ordinary "A" 10.00

Vision Medicare Limited
Registered office: 2 Burton House, Repton Place, White Lion Road, Amersham HP7 9LP
Nature of business: Parent company of dispensing pharmacy
%
Class of shares: holding
Ordinary 12.50

Fampharm Limited
Registered office: 2 Burton House, Repton Place, White Lion Road, Amersham, HP7 9LP
Nature of business: Dispensing pharmacies
%
Class of shares: holding
Ordinary 33.33
B Ordinary 100.00


RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th April 2024

12. STOCKS

Group Company
2024 2023 2024 2023
£    £    £    £   
Stocks 914,242 749,218 914,242 749,218

13. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 3,161,728 3,003,671 3,133,709 2,278,821
Amounts owed by group undertakings - - 1,089,443 1,126,420
Amounts owed by associates 3,533,284 3,171,864 2,838,816 2,522,959
Other debtors 98,426 121,904 54,755 52,102
Corporation tax 74,089 29,699 - -
VAT 392,879 334,273 399,773 322,396
Prepayments 118,181 75,495 116,211 75,495
7,378,587 6,736,906 7,632,707 6,378,193

Amounts falling due after more than one year:
Rent deposits 17,188 16,938 17,188 6,438

Aggregate amounts 7,395,775 6,753,844 7,649,895 6,384,631

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 16) 596,624 564,268 214,058 161,160
Other loans (see note 16) 3,673 287,951 3,673 3,673
Trade creditors 2,716,138 2,294,021 2,647,651 2,043,470
Corporation tax 301,876 409,812 252,674 367,981
Social security and other taxes 67,301 72,297 64,565 59,969
Other creditors 80,624 156,648 63,987 158,661
Directors' current accounts 15,069 12,418 2,044 18
Accruals and deferred income 1,777,085 1,560,030 1,736,959 1,430,203
5,558,390 5,357,445 4,985,611 4,225,135

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th April 2024

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 16) 5,374,714 3,624,865 3,327,307 1,210,323

16. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 596,624 564,268 214,058 161,160
Other loans 3,673 287,951 3,673 3,673
600,297 852,219 217,731 164,833
Amounts falling due between one and two years:
Bank loans - 1-2 years 613,096 578,368 212,395 161,160
Amounts falling due between two and five years:
Bank loans - 2-5 years 1,522,652 1,433,273 446,028 222,732
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 3,238,966 1,613,224 2,668,884 826,431

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 468,379 373,567
Between one and five years 981,128 545,382
In more than five years 1,000,310 493,100
2,449,817 1,412,049

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th April 2024

17. LEASING AGREEMENTS - continued

Company
Non-cancellable operating leases
2024 2023
£    £   
Within one year 468,379 373,567
Between one and five years 981,128 545,382
In more than five years 100,310 493,100
1,549,817 1,412,049

18. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans 5,971,338 4,189,133 3,541,365 1,371,483

The group's bank facilities are secured by a fixed and floating charge over assets of the group.

19. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 247,619 109,861 233,979 89,584

Group
Deferred
tax
£   
Balance at 1st May 2023 109,861
Charge to Income Statement during year 137,758
Balance at 30th April 2024 247,619

Company
Deferred
tax
£   
Balance at 1st May 2023 89,584
Charge to Income Statement during year 144,395
Balance at 30th April 2024 233,979

RADIANT MEDICARE LIMITED (REGISTERED NUMBER: 06555203)

Notes to the Consolidated Financial Statements - continued
for the year ended 30th April 2024

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £0.01 2 2

21. RESERVES

Group
Retained
earnings
£   

At 1st May 2023 6,858,772
Profit for the year 347,199
Dividends (396,667 )
At 30th April 2024 6,809,304

Company
Retained
earnings
£   

At 1st May 2023 7,552,426
Profit for the year 1,126,573
Dividends (396,667 )
At 30th April 2024 8,282,332


22. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Radia family who own the entire issued share capital of the company.