SFL RADIO BANK LTD |
Unaudited Financial Statements |
for the Year Ended 31st December 2024 |
SFL RADIO BANK LTD |
Unaudited Financial Statements |
for the Year Ended 31st December 2024 |
SFL RADIO BANK LTD (REGISTERED NUMBER: 12966965) |
Contents of the Financial Statements |
for the year ended 31st December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SFL RADIO BANK LTD |
Company Information |
for the year ended 31st December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Abbots Quay |
Monks Ferry |
Birkenhead |
Merseyside |
CH41 5LH |
SFL RADIO BANK LTD (REGISTERED NUMBER: 12966965) |
Balance Sheet |
31st December 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SFL RADIO BANK LTD (REGISTERED NUMBER: 12966965) |
Notes to the Financial Statements |
for the year ended 31st December 2024 |
1. | STATUTORY INFORMATION |
SFL Radio Bank Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing 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. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
SFL RADIO BANK LTD (REGISTERED NUMBER: 12966965) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2024 |
2. | ACCOUNTING POLICIES - continued |
Debtors |
Short term debtors are measured at transition price, less any impairment. Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Creditors |
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to/from related parties. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors | ( |
) |
Taxation and social security |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
Included in debtors is the sum of £476,358 (2023 - £301,985) owing from SFL Mobile Radio Holdings Ltd, the ultimate holding company. |
Further included in debtors is the sum of £nil (2023 - £13,362) owing from SFL Mobile Radio Ltd, a company in which Mr K K Beach is also directors. |
7. | ULTIMATE CONTROLLING PARTY |
The company is a subsidiary under the control of SFL Mobile Radio Holdings Ltd (company no 03464048 registered in England and Wales). |