Acorah Software Products - Accounts Production 16.3.350 false true false 3 November 2023 31 December 2024 31 December 2024 15257385 Mr John Martin Ms Gillian Mowbray Mr Jason Ransted Mr Scott Rawlings true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15257385 2023-11-02 15257385 2024-12-31 15257385 2023-11-03 2024-12-31 15257385 frs-core:CurrentFinancialInstruments 2024-12-31 15257385 frs-core:ComputerEquipment 2024-12-31 15257385 frs-core:ComputerEquipment 2023-11-03 2024-12-31 15257385 frs-core:ComputerEquipment 2023-11-02 15257385 frs-core:FurnitureFittings 2024-12-31 15257385 frs-core:FurnitureFittings 2023-11-03 2024-12-31 15257385 frs-core:FurnitureFittings 2023-11-02 15257385 frs-core:ShareCapital 2024-12-31 15257385 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 15257385 frs-bus:PrivateLimitedCompanyLtd 2023-11-03 2024-12-31 15257385 frs-bus:FilletedAccounts 2023-11-03 2024-12-31 15257385 frs-bus:SmallEntities 2023-11-03 2024-12-31 15257385 frs-bus:AuditExempt-NoAccountantsReport 2023-11-03 2024-12-31 15257385 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-03 2024-12-31 15257385 1 2023-11-03 2024-12-31 15257385 frs-bus:Director1 2023-11-03 2024-12-31 15257385 frs-bus:Director2 2023-11-03 2024-12-31 15257385 frs-bus:Director3 2023-11-03 2024-12-31 15257385 frs-bus:Director4 2023-11-03 2024-12-31 15257385 frs-countries:EnglandWales 2023-11-03 2024-12-31
Registered number: 15257385
Radcliffe And Newlands Wealth Limited
Unaudited Financial Statements
For the Period 3 November 2023 to 31 December 2024
Radcliffe and Newlands Wealth Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 15257385
31 December 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 3,270
3,270
CURRENT ASSETS
Debtors 5 265,544
Cash at bank and in hand 428,317
693,861
Creditors: Amounts Falling Due Within One Year 6 (443,194 )
NET CURRENT ASSETS (LIABILITIES) 250,667
TOTAL ASSETS LESS CURRENT LIABILITIES 253,937
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (74 )
NET ASSETS 253,863
CAPITAL AND RESERVES
Called up share capital 8 10
Profit and Loss Account 253,853
SHAREHOLDERS' FUNDS 253,863
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For the period ending 31 December 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
Mr John Martin
Director
23/04/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Radcliffe And Newlands Wealth Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15257385 . The registered office is Ground Floor, Crystal Gate, 28/30 Worship Street, London, EC2A 2AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Fixtures & Fittings 25% straight line basis
Computer Equipment 25% straight line basis
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 16
16
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 3 November 2023 - - -
Additions 3,622 5,056 8,678
As at 31 December 2024 3,622 5,056 8,678
Depreciation
As at 3 November 2023 - - -
Provided during the period 3,240 2,168 5,408
As at 31 December 2024 3,240 2,168 5,408
Net Book Value
As at 31 December 2024 382 2,888 3,270
As at 3 November 2023 - - -
5. Debtors
31 December 2024
£
Due within one year
Trade debtors 9,088
Prepayments and accrued income 256,456
265,544
6. Creditors: Amounts Falling Due Within One Year
31 December 2024
£
Trade creditors 9,489
Corporation tax 86,143
Other taxes and social security 17,967
VAT 1,364
Accruals and deferred income 328,231
443,194
Included in Trade Creditors is £82 oweing to Radcliffe and Newlands Limited, a related party.
7. Deferred Taxation
The provision for deferred tax is made up as follows:
31 December 2024
£
Other timing differences 74
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8. Share Capital
31 December 2024
£
Allotted, Called up and fully paid 10
9. Pension Commitments
The company operates a defined contribution pension scheme for all directors and salaried staff.  The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date there were no unpaid contributions due to the fund.
10. Related Party Transactions
During the year, Radcliffe and Newlands Wealth Limited was under common control and management with the following entities:
  • Radcliffe and Newlands Limited
  • Radcliffe and Newlands Mortgages Limited
  • Radcliffe and Newlands Estate Planning Limited
  • Radcliffe and Newlands Holding One Limited
  • Radcliffe and Newlands Holding Two Limited
During the year, there were shared directors and shareholders across the group of companies, and certain operational and financial arrangements continued between the entities, including the allocation of staff, costs, and shared services.
However, during the period and prior to the reporting date, a group restructuring occurred which resulted in a change in ownership of Radcliffe and Newlands Holding One Limited, and consequently, Radcliffe and Newlands Mortgages Limited. As a result, these companies were no longer under common ownership or control with Radcliffe and Newlands Wealth Limited at the reporting date. Nevertheless, as there remained common management and transactions continued during the period, appropriate disclosure is included within these financial statements.
Related Party Transactions – Radcliffe and Newlands Limited
In addition to the group restructuring described above, Radcliffe and Newlands Limited recharged various overheads to Radcliffe and Newlands Wealth Limited during the period as part of the transition of services. These recharges were as follows:
  • Advertising: £80
  • Cleaning: £2,735
  • Client Compensation: £5,066
  • Computer Software: £1,120
  • Staff Entertainment: £1,230
  • Insurance: £263
  • Internet: £2,293
  • Electricity: £2,219
  • Medical Insurance: £5,872
  • Sundries: £732
  • Hire of Equipment: £2,108
  • Other Staff Costs & Benefits: £3,142
  • Postage: £1,026
  • Printing & Stationery: £715
  • Professional Fees: £1,108
  • Rates: £13,842
  • Rent: £42,169
  • Staff Training: £91
  • Telephone: £1,908
Additionally, Radcliffe and Newlands Limited sold fixed assets to Radcliffe and Newlands Wealth Limited during the period, comprising:
  • Computer Equipment: £4,104
  • Fixtures & Fittings: £3,622
These recharges and asset transfers occurred while Radcliffe and Newlands Wealth Limited was assuming the relevant operational functions and responsibilities.
...CONTINUED
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10. Related Party Transactions - continued
Additionally, Radcliffe and Newlands Limited transferred retained profits of £160,199 to Radcliffe and Newlands Wealth Limited.
Subsequently Radcliffe and Newlands Wealth Limited loaned £165,000 from generated profits to Radcliffe and Newlands Limited following the network company of which Radcliffe and Newlands Limited was a member of going into adminstration.
The net effect of these transactions was £4,801, which represents a loan written off. This amount has been recognized in the financial statements of Radcliffe and Newlands Wealth Limited as a write-off of an intercompany loan.
At the period end Radcliffe and Newlands Wealth Limited owed Radcliffe and Newlands Limited £82, which is included in Trade Creditors.
Related Party Transactions – Radcliffe and Newlands Mortgages Limited
During the period, the following related party transactions occurred between Radcliffe and Newlands Wealth Limited and Radcliffe and Newlands Mortgages Limited:
  • Sale of assets: Radcliffe and Newlands Wealth Limited sold computer equipment to Radcliffe and Newlands Mortgages Limited for £601.
  • Telephone costs: Radcliffe and Newlands Wealth Limited reimbursed Radcliffe and Newlands Mortgages Limited for telephone costs amounting to £260.
Related Party Transactions – Radcliffe and Newlands Estate Planning Limited
There were no transactions with Radcliffe and Newlands Estate Planning Limited in the period.
11. Exceptional Items
During the period, an exceptional item of £4,801 was recognized in the financial statements of Radcliffe and Newlands Wealth Limited, relating to the write-off of an intercompany loan. This write-off resulted from transactions between Radcliffe and Newlands Limited and Radcliffe and Newlands Wealth Limited, as disclosed in the related party transactions note.
12. Ultimate Controlling Party
The company is a wholly owned subsidiary of Radcliffe and Newlands Holding Two Limited as a result of a capital demerger which took place during the period.
There is no individual ultimate controlling party, as the parent company is jointly controlled by its directors and shareholders acting by joint consent.
The company is exempt from the requirement to prepare consolidated financial statements under section 402 of the Companies Act 2006, as the parent company is exempt on the grounds that it has no subsidiaries requiring consolidation.
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